Page 141 - Demo

- 16 -- 10 -2 %u91cd%u5927%u6703%u8a08%u653f%u7b56(%u7e8c) 2 MATERIAL ACCOUNTING POLICIES (Continued)(l) %u91d1%u878d%u5de5%u5177%u7684%u6e1b%u503c(%u7e8c) (l) Impairment of financial instruments (Continued)%u91d1%u878d%u5de5%u5177%u7684%u9810%u671f%u4fe1%u8cb8%u640d%u5931%uff0c%u662f%u5c31%u8a72%u91d1%u878d%u5de5%u5177%u5728%u9810%u671f%u5e74%u9650%u5167%u7684%u4fe1%u8cb8%u640d%u5931(%u5373%u6240%u6709%u73fe%u91d1%u77ed%u7f3a%u7684%u73fe%u503c)%u6240%u4f5c%u7684%u516c%u6b63%u4e26%u7d93%u6982%u7387%u52a0%u6b0a%u8655%u7406%u7684%u4f30%u8a08%u3002%u73fe%u91d1%u77ed%u7f3a%u6307%u6839%u64da%u5408%u7d04%u61c9%u4ed8%u4e88%u623f%u59d4%u6703%u7684%u73fe%u91d1%u6d41%u91cf%u8207%u623f%u59d4%u6703%u9810%u671f%u6536%u5230%u7684%u73fe%u91d1%u6d41%u91cf%u4e4b%u9593%u7684%u5dee%u7570%u3002%u5c0d%u65bc%u5728%u5831%u544a%u65e5%u671f%u5c6c%u4fe1%u8cb8%u6e1b%u503c%u7684%u91d1%u878d%u8cc7%u7522%uff0c%u623f%u59d4%u6703%u8a08%u91cf%u7684%u9810%u671f%u4fe1%u8cb8%u640d%u5931%u70ba%u8cc7%u7522%u7684%u7e3d%u5e33%u9762%u503c%u8207%u4f30%u8a08%u672a%u4f86%u73fe%u91d1%u6d41%u91cf%u73fe%u503c%u7684%u5dee%u984d%uff0c%u8a72%u73fe%u503c%u6309%u8cc7%u7522%u7684%u539f%u4f86%u5be6%u969b%u5229%u7387(%u5982%u91d1%u878d%u8cc7%u7522%u662f%u6309%u6524%u92b7%u6210%u672c%u8a08%u91cf)%u6216%u6309%u540c%u985e%u91d1%u878d%u8cc7%u7522%u7684%u73fe%u884c%u5e02%u5834%u56de%u5831%u7387(%u5982%u91d1%u878d%u8cc7%u7522%u662f%u6309%u6210%u672c%u8a18%u5e33)%u4ee5%u8cbc%u73fe%u65b9%u5f0f%u8a08%u7b97%u3002Expected credit losses of a financial instrument are an unbiased and probability-weighted estimate of credit losses (i.e. the present value of all cash shortfalls) over the expected life of the financial instrument. A cash shortfall is the difference between the cash flows due to the Authority in accordance with the contract and the cash flows that the Authority expects to receive. For a financial asset that is credit impaired at the reporting date, the Authority measures the expected credit losses as the difference between the asset%u2019s gross carrying amount and the present value of estimated future cash flows discounted at the asset%u2019s original effective interest rate (for financial assets measured at amortised cost), or at the current market rate of return for a similar financial asset (for financial assets stated at cost).(m) %u5b58%u8ca8 (m) Inventories%u5b58%u8ca8%u5305%u62ec%u672a%u552e%u7684%u5c45%u5c4b%uff0f%u7da0%u7f6e%u5c45%u8a08%u5283%u55ae%u4f4d%u3001%u5009%u5b58%u548c%u5099%u4ef6%uff0c%u6709%u95dc%u9805%u76ee%u4ee5%u6210%u672c%u8207%u53ef%u8b8a%u73fe%u6de8%u503c%u5169%u8005%u4e2d%u8f03%u4f4e%u8005%u8a18%u5e33%u3002%u672a%u552e%u7684%u5c45%u5c4b%uff0f%u7da0%u7f6e%u5c45%u8a08%u5283%u55ae%u4f4d%u7684%u53ef%u8b8a%u73fe%u6de8%u503c%uff0c%u662f%u6307%u4f30%u8a08%u552e%u50f9%u6263%u9664%u51fa%u552e%u55ae%u4f4d%u6240%u9700%u6210%u672c%u5f8c%u7684%u50f9%u503c%u3002%u55ae%u4f4d%u552e%u51fa%u5f8c%uff0c%u5176%u5e33%u9762%u503c%u6703%u65bc%u78ba%u8a8d%u76f8%u95dc%u552e%u6a13%u6536%u5165%u7684%u540c%u4e00%u5e74%uff0c%u78ba%u8a8d%u70ba%u652f%u51fa%u3002%u5009%u5b58%u548c%u5099%u4ef6%u7684%u6210%u672c%u4e3b%u8981%u6309%u52a0%u6b0a%u5e73%u5747%u6210%u672c%u65b9%u6cd5%u8a08%u7b97%u3002%u5df2%u904e%u6642%u7684%u5009%u5b58%u548c%u5099%u4ef6%u6703%u5728%u5168%u9762%u6536%u76ca%u8868%u5167%u8a3b%u92b7%u3002%u7576%u5009%u5b58%u548c%u5099%u4ef6%u8017%u7528%u5f8c%uff0c%u5176%u5e33%u9762%u503c%u6703%u65bc%u8017%u7528%u7576%u5e74%uff0c%u78ba%u8a8d%u70ba%u652f%u51fa%u3002Inventories consist of unsold HOS/GSH flats, stores and spares. They are carried at the lower of cost and net realisable value.The net realisable value of unsold HOS/GSH flats represents the estimated selling price less costs to be incurred in selling the flats. When flats are sold, the carrying amount of those flats is recognised as an expense in the year in which the related sales income is recognised.The cost of stores and spares is mainly determined by the weighted average cost method. Obsolete stores and spares are written off to the statement of comprehensive income. When stores and spares are consumed, the carrying amount of those stores and spares is recognised as an expense in the year in which the consumption occurs.(n) %u73fe%u91d1%u53ca%u7b49%u540c%u73fe%u91d1 (n) Cash and cash equivalents%u73fe%u91d1%u53ca%u7b49%u540c%u73fe%u91d1%u5305%u62ec%u9280%u884c%u7d50%u9918%u548c%u73fe%u91d1%uff0c%u4ee5%u53ca%u65bc%u8cfc%u5165%u6642%u8ddd%u671f%u6eff%u65e5%u901a%u5e38%u4e0d%u8d85%u904e 3 %u500b%u6708%uff0c%u5c6c%u77ed%u671f%u6027%u8cea%u4e26%u96a8%u6642%u53ef%u8f49%u63db%u70ba%u5df2%u77e5%u6578%u984d%u7684%u73fe%u91d1%u548c%u50f9%u503c%u8b8a%u52d5%u98a8%u96aa%u4e0d%u5927%u4e14%u6d41%u901a%u6027%u9ad8%u7684%u6295%u8cc7%u3002Cash and cash equivalents consist of bank balances and cash, and short-term highly liquid investments that are readily convertible to known amounts of cash and subject to an insignificant risk of changes in value, normally having a maturity of three months or lessfrom the date of acquisition.(o) %u61c9%u4ed8%u5e33%u9805%u53ca%u5176%u4ed6%u8ca1%u52d9%u8ca0%u50b5 (o) Creditors and other financial liabilities%u61c9%u4ed8%u5e33%u9805%u53ca%u5176%u4ed6%u8ca1%u52d9%u8ca0%u50b5%u5747%u4ee5%u5df2%u6524%u92b7%u6210%u672c%u8a08%u91cf%uff0c%u4f46%u662f%u5982%u5c6c%u61c9%u4ed8%u4e88%u653f%u5e9c%u7684%u514d%u606f%u6b3e%u9805%uff0c%u6216%u5176%u8cbc%u73fe%u6548%u61c9%u5fae%u4e0d%u8db3%u9053%u7684%u9805%u76ee%uff0c%u5247%u6703%u4ee5%u6210%u672c%u5217%u51fa%u3002Creditors and other financial liabilities are measured at amortisedcost except for the interest-free amount due to the Government or where the effect of discounting would be immaterial. In those cases, they are stated at cost.(p) %u50f1%u54e1%u798f%u5229 (p) Employee benefits%u50f1%u54e1%u798f%u5229%u5982%u5de5%u8cc7%u3001%u85aa%u91d1%u548c%u82b1%u7d05%uff0c%u5728%u50f1%u54e1%u63d0%u4f9b%u670d%u52d9%u5f8c%u6703%u78ba%u8a8d%u70ba%u652f%u51fa%u3002%u5408%u7d04%u50f1%u54e1%u56e0%u5728%u5e74%u5167%u63d0%u4f9b%u670d%u52d9%u800c%u61c9%u4ed8%u4e88%u4ed6%u5011%u7684%u7d04%u6eff%u916c%u91d1%u6703%u5728%u8ca1%u52d9%u5831%u8868%u5167%u4f5c%u51fa%u64a5%u5099%u3002%u50f1%u54e1%u4eab%u6709%u7684%u5e74%u5047%u662f%u6839%u64da%u4ed6%u5011%u7576%u6642%u7d2f%u7a4d%u7684%u5e74%u5047%u65e5%u6578%u78ba%u8a8d%u5165%u5e33%uff0c%u800c%u50f1%u54e1%u4eab%u6709%u7684%u75c5%u5047%u548c%u7522%u5047%uff0c%u5247%u6703%u5728%u50f1%u54e1%u653e%u53d6%u6709%u95dc%u5047%u671f%u6642%u624d%u78ba%u8a8d%u3002%u5408%u7d04%u50f1%u54e1%u7684%u5f37%u5236%u6027%u516c%u7a4d%u91d1%u4f9b%u6b3e%u5728%u7522%u751f%u6709%u95dc%u8cac%u4efb%u671f%u9593%u4f5c%u70ba%u958b%u652f%u3002%u516c%u52d9%u54e1%u7684%u9577%u4ff8%u8ca0%u50b5%u5247%u5728%u623f%u59d4%u6703%u6309%u6708%u4ed8%u9084%u653f%u5e9c%u7684%u516c%u52d9%u54e1%u54e1%u5de5%u6210%u672c%u6642%u652f%u4ed8%u3002Employee benefits such as wages, salaries and bonuses are recognised as an expense when the employee has rendered the service. Obligations on contract-end gratuities payable to contract staff for services rendered during the year are provided for in the financial statements.Employee entitlements to annual leave are recognised when they accrue to employees. Employee entitlements to sick leave and maternity leave are not recognised until the time of leave.Contributions to the Mandatory Provident Fund for contract staff are expensed as incurred. Pension liabilities for civil servants are discharged by reimbursement to the Government as part of the civil servants%u2019 staff costs charged by the Government to the Authority on a monthly basis.(q) %u5916%u5e63%u63db%u7b97 (q) Foreign currency translation%u5e74%u5167%u9032%u884c%u7684%u5916%u5e63%u4ea4%u6613%uff0c%u5747%u6309%u4ea4%u6613%u7576%u65e5%u7684%u73fe%u8ca8%u532f%u7387%u63db%u7b97%u70ba%u6e2f%u5143%u3002%u4ee5%u6e2f%u5143%u4ee5%u5916%u7684%u8ca8%u5e63%u70ba%u55ae%u4f4d%u7684%u8ca8%u5e63%u8cc7%u7522%u548c%u8ca0%u50b5%uff0c%u5747%u6309%u5831%u544a%u65e5%u671f%u7684%u6536%u5e02%u532f%u7387%u63db%u7b97%u70ba%u6e2f%u5143%u3002%u5916%u5e63%u63db%u7b97%u7522%u751f%u7684%u532f%u514c%u6536%u76ca%u548c%u8667%u640d%uff0c%u5747%u5728%u5168%u9762%u6536%u76ca%u8868%u5167%u78ba%u8a8d%u3002Foreign currency transactions during the year are translated into Hong Kong dollars using the spot exchange rates at the transaction dates. Monetary assets and liabilities denominated in currenciesother than Hong Kong dollars are translated into Hong Kong dollars using the closing exchange rates at the reporting date. Exchange gains and losses are recognised in the statement of comprehensive income.- 16 -