Page 152 - 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

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

(continued)
Offsetting of financial instruments 抵銷財務工具

Financial assets and financial liabilities are offset and the net amount ຅ତࣛπίɓධ̙Աج੶ՓੂБʘᛆ
is reported in the statement of financial position if there is a currently л̙תቖʊᆽႩږᕘd˲͵Ϟจ˸ଋ
enforceable legal right to offset the recognised amounts and there is ᕘഐၑאΝࣛᜊତ༟ପʿᎵ˹වਕ
an intention to settle on a net basis, or to realise the assets and settle ࣛdۆৌਕ༟ପʿৌਕࠋව̙ʚת
the liabilities simultaneously. ቖdϾՉଋᕘ׵ৌਕًرڌʫяజf

Properties under development for sale 作出售用途的發展中物業
Properties under development for sale in the ordinary course of ܙܔϓܝ͜Ъ̈ਯ͜௄ٙ೯࢝ʕيุ
business are stated at the lower of cost and net realisable value. ɗ˸ϓ͉࠽ʿࢁତଋ࠽ٙ༰Э٫ɝሪf

The cost of properties under development for sale comprises ೯࢝ʕيุٙϓ͉ܼ̙̍׼ᆽᗆйʘ
specifically identified cost, including the acquisition cost of land, ϓ͉dܼ̍ɺήϗᒅϓ͉eଢ଼ࠇ೯
aggregate cost of development, materials and supplies, wages and ࢝eيࣘʿԶᏐۜϓ͉eʈ༟ձʊ༟
other direct expenses capitalised, and an appropriate proportion of ͉ʷʘՉ˼ٜટ൬͜eʿܲΥଣਿ๟
overheads and borrowing costs capitalised. Net realisable value ʱৣٙ຾ᐄ൬͜ձʊ༟͉ʷʘ࠾൲ϓ
represents the estimated selling price, based on prevailing market ͉f̙ᜊତଋ࠽މПࠇਯᄆ€࣬ኽ຅
conditions, less estimated costs of completion and costs to be ̹ࣛఙઋرಯ̘ҁϓʹ׸ʘПࠇϓ
incurred in selling the property. ͉ʿ׵ቖਯيุࣛהცପ͛ʘПࠇϓ
͉f

Housing inventories 樓宇存貨
Housing inventories represent completed properties held for sale and ᅽρπ஬ɗܵЪ̈ਯٙيุd˸ϓ͉
are stated at the lower of cost and net realisable value. ࠽ʿ̙ࢁତଋ࠽ٙ༰Э٫ɝሪf

Cash and cash equivalents 現金及現金等價物
Cash and cash equivalents comprise cash at bank and in hand, ତږʿତږഃᄆيܼ̍ვБπಛʿତ
demand deposits with banks and other financial institutions, and ږeπ׳׵ვБʿՉ˼ৌਕዚ࿴ٙݺ
short-term, highly liquid investments that are readily convertible into ಂπಛd˸ʿ೵ಂϾՈ৷ݴਗ׌ٙҳ
known amounts of cash and which are subject to an insignificant risk ༟fவԬҳ༟̙˸ᎇࣛ౬ၑމʊٝʿ
of changes in value, having been within three months of maturity at ᄆ࠽ᜊਗࠬᎈʔɽeԨίᒅɝܝɧࡈ
acquisition. Bank overdrafts that are repayable on demand and form ˜ʫՑಂʘତږᕘfఱᏝ௪ତږݴඎ
an integral part of the Housing Society’s cash management are also ڌϾԊdତږʿତږഃᄆيɰܼ̍඲
included as a component of cash and cash equivalents for the ׵ટᐏஷٝࣛᎵᒔdԨ࿴ϓג܊՘ึ
purpose of the statement of cash flows. ତږ၍ଣɓ௅΅ٙვБீ˕f

150 Hong Kong Housing Society Annual Report 2017/18