Financial Report 2019

Notes to the Consolidated Financial Statements 合併財務報表附註 The University of Hong Kong 香港大學 19 Effective for accounting periods beginning on or after HKICPA’s annual improvements to HKFRSs 2015-2017 cycle 1 January 2019 Amendments to HKFRS 10 and HKAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture To be determined Ma n a g eme n t h a s a l r e a d y c omme n c e d a n assessment of the likely impact of adopting t he above new s t anda rds , amendmen t s and interpretations on the Group’s financial statements, in which the preliminary assessment of HKFRS 16 is detailed below. HKFRS 16, “Leases” HKFRS 16 is mandatory for the Group’s financial statements for accounting periods beginning on or after 1 July 2019. The Group currently plans to adopt this new standard from 1 July 2019. 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (a) Basis of Preparation – Cont’d (ii) New, revised and amendments to existing standards and interpretations that are not yet effective – Cont’d 1. 主要會計政策－續 (a) 編制基準－續 (ii) 尚未生效的新訂╱已修改財務 報告準則及詮釋－續 於下列日期 或以後之會 計年度生效 香港會計師公會 公佈對財務報 告準則 2015- 2017 週期年度 改進 二零一九年 一月一日 香港財務報告準 則第 10 號及香 港會計準則第 28 號（修訂） 投資者與其聯 營或合營企業 之間的資產出 售或注資 待確定 管理層已開始評估該等新準 則、修訂及詮譯對本機構財務 報表的影響，其中對香港財務 報告準則第 16 號初步的評估詳 情如下。 香 港 財 務 報 告 準 則 第 16 號 「租賃」 香港財務報告準則第 16 號對本 機構於二零一九年七月一日或 以後開始之年度之財務報表屬 強制性。本機構現時計劃由二 零一九年七月一日起採納此新 準則。 Notes to the Consolidated Financial Statements 合併財務報表附註 2019 Financial Report 二零一九財務報告 20 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (a) Basis of Preparation – Cont’d (ii) New, revised and amendments to existing standards and interpretations that are not yet effective – Cont’d HKFRS 16, “Leases” – Cont’d HKFRS 16 r equ i r es a lmos t a l l l eases be i ng recognised by the lessee on the statement of financial position as the distinction between operating and finance leases is removed. Under HKFRS 16, an asset (the right to use the leased item) and a financial liability to pay rentals are recognised. The only exceptions are short-term leases of less than twelve months and leases of low-value assets. In addition, the nature of expenses related to those leases will now change as HKFRS 16 replaces the straight-line operating expense with a depreciation charge for right-of- use assets and interest expense on lease liabilities. The combination of a straight-line depreciation of the right-of-use asset and the effective interest rate method applied to the lease liability will result in a higher expenses charge to statement of comprehensive income in the initial years of the lease, and decreasing expenses during the latter part of the lease term. As at 30 June 2019, the Group has non-cancellable operating lease commitments of HK$217 million (see Note 32(i)). Some of these amounts may need to be recognised as lease liabilities, with corresponding right-of use assets, once HKFRS 16 is adopted. The Group is in the process of assessing to what extent these operating lease commitments will result in the recognition of an asset and a liability for future payments and how this will affect the Group’s surplus for the year and classification of cash flows. There are no other standards that have been issued but are not yet effective and upon their initial application that would be expected to have a material impact on the financial position and/or financial performance of the Group. 1. 主要會計政策－續 (a) 編制基準－續 (ii) 尚未生效的新訂╱已修改財務 報告準則及詮釋－續 香 港 財 務 報 告 準 則 第 16 號 「租賃」－續 因作為經營租賃與融資租賃之 區分已被刪除，香港財務報告 準則第 16 號要求近乎所有租 賃由承租人於財務狀況表上確 認。根據香港財務報告準則第 16 號，一項資產（使用租賃項目 之權利）以及支付租金之財務負 債乃予以確認。唯一例外之情 況是少於十二個月的短期租賃 及低價值租賃。此外，與該等 租賃有關之開支之性質將會變 更，因為香港財務報告準則第 16 號以有使用權之資產之折舊 支出及租賃負債之利息開支， 取代平均等額經營租賃開支。 有使用權之資產的直線折舊法 及應用於租賃負債的實際利率 法兩者之組合，將導致於租約 初期在收益表的總開支較高， 及於租約後期的開支逐漸減少。 於二零一九年六月三十日，本 機構擁有不可撤銷營運租約之 承擔金額為港幣二億一千七百 萬元（見附註 32(i) ）。一旦採納 香港財務報告準則第 16 號，該 等款項部分可能須確認為租賃 負債，並確認相應的有使用權 之資產。本機構正在評估此等 變動將導致確認一項資產及就 未來付款之一項負債的程度， 以及採納香港財務報告準則第 16 號將如何影響本機構之盈餘 及現金流之分類。 除此，並沒有已頒佈但尚未生 效，且預期於首次應用後會對 本機構之財務狀況及╱或財務 表現有重大影響之其他準則。