Page 139 - Hong Kong Housing Society 香港房屋協會 - Annual Report 2019 年報

137

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

Fair value measurement 公允值計量
The Housing Society measures its investment related financial assets 房屋協會於各報告期末按公允值計量
and investment related financial liabilities at fair value at the end of 其有關投資的財務資產及有關投資的
each reporting period. Fair value is the price that would be received 財務負債。公允值為市場參與者於計
to sell an asset or paid to transfer a liability in an orderly transaction 量日期在有序交易中出售資產所收取
between market participants at the measurement date. The fair value 的價格或轉讓負債所支付的價格。公
measurement is based on the presumption that the transaction to 允值計量乃根據假設出售資產或轉讓
sell the asset or transfer the liability takes place either in the principal 負債的交易於資產或負債主要市場或
market for the asset or liability, or in the absence of a principal （在無主要市場情況下）最具優勢市場
market, in the most advantageous market for the asset or liability. The 進行而作出。主要及最具優勢市場須
principal or the most advantageous market must be accessible by the 為房屋協會可進入之市場。資產或負
Housing Society. The fair value of an asset or a liability is measured 債的公允值乃按假設市場參與者於資
using the assumptions that market participants would use when 產或負債定價時會以最佳經濟利益行
pricing the asset or liability, assuming that market participants act in 事計量。
their economic best interest.

A fair value measurement of a non-financial asset takes into account 非財務資產的公允值計量須考慮市場
a market participant’s ability to generate economic benefits by using 參與者能以最大限度使用該資產達致
the asset in its highest and best use or by selling it to another market 最佳用途，或將該資產出售予將最大
participant that would use the asset in its highest and best use. 限度使用該資產達致最佳用途的其他
市場參與者，所產生的經濟效益。

The Housing Society uses valuation techniques that are appropriate 房屋協會採納適用於不同情況且具備
in the circumstances and for which sufficient data are available to 充分數據以供計量公 允 值的估值方
measure fair value, maximising the use of relevant observable inputs 法，以儘量使用相關可觀察輸入數據
and minimising the use of unobservable inputs. 及儘量減少使用不可觀察輸入數據。

All assets and liabilities for which fair value is measured or disclosed 所有載於本財務報表計量或披露的資
in the financial statements are categorised within the fair value 產及負債乃基於對公允值計量整體而
hierarchy, described as follows, based on the lowest level input that is 言屬重大的最低層輸入數據按以下公
significant to the fair value measurement as a whole: 允值等級分類：

Level 1 — based on quoted prices (unadjusted) in active markets 第一級 — 基於相同資產或負債於活
for identical assets or liabilities 躍市場的報價（未經調整）

Level 2 — based on valuation techniques for which the lowest 第二級 — 基於對公允值計量而言屬
level input that is significant to the fair value 重大的可觀察（直接或間
measurement is observable, either directly or indirectly 接）最低層輸入數據的估
值方法
Level 3 — based on valuation techniques for which the lowest
level input that is significant to the fair value 第三級 — 基於對公允值計量而言屬
measurement is unobservable 重大的不可觀察最低層輸
入數據的估值方法

香港房屋協會 2018/19 年度年報