Page 144 - Hong Kong Housing Society 香港房屋協會 - Annual Report 2018 年報

AUDITED FINANCIAL STATEMENTS 已審核財務報表

Notes to the Financial Statements
財務報表附註

2.3 Issued but not yet effective Hong Kong 2.3 已頒布但未生效之香港財務

Financial Reporting Standards (continued) 報告準則 €ᚃ
HKFRS 16 (continued) 香港財務報告準則第十六號€ᚃ
Lessees can choose to apply the standard using either a full וॡɛ̙፯኿˸Όࠦ৛๑Ꮠ͜א௅ʱ
retrospective or a modified retrospective approach. The Housing ৛๑Ꮠ͜˙όᏐ͜༈๟ۆfג܊՘ึ
Society expects to adopt HKFRS 16 from 1 April 2019 and is currently ཫಂІɚཧɓɘϋ̬˜ɓ˚મॶ࠰ಥ
assessing the impact of HKFRS 16 upon adoption. ৌਕజѓ๟ۆୋɤʬ໮Ԩ͍ί൙Пમ
ॶ࠰ಥৌਕజѓ๟ۆୋɤʬ໮ٙᅂᚤf

Amendments to HKAS 40, issued in April 2017, clarify when an entity ׵ɚཧɓɖϋ̬˜཯̺ٙ࠰ಥึࠇ๟
should transfer property, including property under construction or ۆୋ̬ɤ໮€ࡌࠈd݊މᔾ૶຅ҳ༟
development, into or out of investment property. The amendments يุ€ܼ̍ίܔيุא೯࢝ʕيุᔷ
state that a change in use occurs when the property meets, or ceases ɝאᔷ̈ࣛd༈ࡌࠈࠈ׼͜௄ᜊһਗ਼
to meet, the definition of investment property and there is evidence ܼ̍༈يุ݊щୌΥאʔΎୌΥҳ༟
of the change in use. A mere change in management’s intentions for يุ່֛ٙ൙Пiʿيุ͜௄ʊᜊһ
the use of a property does not provide evidence of a change in use. ٙႾпᗇ׼f༈ࡌࠈᏐ׵ҷᜊ͜௄೯
The amendments should be applied prospectively to the changes in ͛ࣛא׵ྼ᜗࠯ϣᏐ͜༈ࡌࠈࣛٙϋ
use that occur on or after the beginning of the annual reporting ܓజڌࣛݬක֐ࣛಂܝᏐ͜fྼ᜗Ꮠ
period in which the entity first applies the amendments. An entity ࠠอ൙П׵࠯ϣᏐ͜༈ࡌࠈࣛהܵϞ
should reassess the classification of property held at the date that it ٙيุʱᗳiʿνቇ͜Ꮠࠠอʱᗳي
first applies the amendments and, if applicable, reclassify property to ุ˸ˀ݈༈˚הπίٙઋرf຅ʔც
reflect the conditions that exist at that date. Retrospective application Դ͜ԫܝ༟ࣘࣛd৛๑Ꮠ͜ʑ̙஗Ꮠ
is only permitted if it is possible without the use of hindsight. The ͜fג܊՘ึཫಂ༈ࡌࠈ׵ɚཧɓɞ
Housing Society expects to adopt the amendments prospectively ϋ̬˜ɓ˚א˸ܝක֐ٙϋܓಂග͛
from 1 April 2018. The amendments are not expected to have any ࣖf༈ഃࡌࠈཫಂਗ਼ʔึ࿁ג܊՘ึ
significant impact on the Housing Society’s financial statements. ٙৌਕజڌϞࠠɽᅂᚤf

2.4 Summary of significant accounting policies 2.4 主要會計政策概要

Fair value measurement 公允࠽計量
The Housing Society measures its investment related financial assets ג܊՘ึ׵΢జѓಂ͋ܲʮʪ࠽ࠇඎ
and investment related financial liabilities at fair value at the end of ՉϞᗫҳ༟ٙৌਕ༟ପʿϞᗫҳ༟ٙ
each reporting period. Fair value is the price that would be received ৌਕࠋවfʮʪ࠽މ̹ఙਞၾ٫׵ࠇ
to sell an asset or paid to transfer a liability in an orderly transaction ඎ˚ಂίϞҏʹ׸ʕ̈ਯ༟ପהϗ՟
between market participants at the measurement date. The fair value ٙᄆࣸאᔷᜫࠋවה˕˹ٙᄆࣸfʮ
measurement is based on the presumption that the transaction to ʪ࠽ࠇඎɗ࣬ኽ৿ண̈ਯ༟ପאᔷᜫ
sell the asset or transfer the liability takes place either in the principal ࠋවٙʹ׸׵༟ପאࠋව˴ࠅ̹ఙא
market for the asset or liability, or in the absence of a principal €ίೌ˴ࠅ̹ఙઋرɨ௰ՈᎴැ̹ఙ
market, in the most advantageous market for the asset or liability. The ආБϾЪ̈f˴ࠅʿ௰ՈᎴැ̹ఙ඲
principal or the most advantageous market must be accessible by the މג܊՘ึ̙ආɝʘ̹ఙf༟ପאࠋ
Housing Society. The fair value of an asset or a liability is measured වٙʮʪ࠽ɗܲ৿ண̹ఙਞၾ٫׵༟
using the assumptions that market participants would use when ପאࠋව֛ᄆࣛึ˸௰Գ຾᏶лूБ
pricing the asset or liability, assuming that market participants act in ԫࠇඎf
their economic best interest.

142 Hong Kong Housing Society Annual Report 2017/18