Notes to the Consolidated Financial Statements 合併財務報表附註 The University of Hong Kong 香港大學 35 主要會計政策－續 (l) 財務資產－續 (iv) 財務資產減值－續 倘信貸風險大幅增加或應收款未根據協 議所載條款結付，則管理層認為該等應 收款表現不理想或無表現及按全期預期 信貸虧損計量減值。 倘管理層認為並無預期合理收回款項的 可能，則按攤銷成本計量之財務資產將 撇銷。 (m) 存貨 存貨包括指由香港大學出版社及香港大學專 業進修學院持有以供轉售之書籍。該等存貨 乃按成本與可變現淨值兩者中之較低者列 賬，成本乃採用加權平均法計算。可變現淨 值則以預計銷售收入扣除估計銷售開支計算。 (n) 應收賬項 倘預期在一年或以內（倘屬較長期間，須在正 常營運週期中）收回應收賬項，有關款項乃分 類為流動資產；否則以非流動資產呈列。 應收賬項最初按公平值確認，其後以實際利 率法按已攤銷成本扣除減值撥備列賬。 本機構就應收賬項之全期預期虧損對計量虧 損撥備。預期虧損比率基於歷史可觀察違約 率，並按前瞻性估計予以調整。 應收賬項之減值虧損於營運表現中確認。應 收賬項於合理預期無法收回時（部份或全部） 撇銷。 (o) 現金及等同現金 在綜合現金流量表中，現金及等同現金包括 庫存現金、銀行通知存款、原到期日為三個 月或以下的銀行存款及其他短期高流動性投 資及銀行透支（如適用）。 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (l) Financial Assets – Cont’d (iv) Impairment of financial assets – Cont’d When there is a significant increase in credit risk or the receivables are not settled in accordance with the terms stipulated in the agreements, management considers these receivables as underperforming or non-performing and impairment is measured as lifetime expected credit loss. When management considers that there is no reasonable expectation of recovery, the financial assets measured at amortised cost will be written off. (m) Inventories Inventories comprise books held by the Hong Kong University Press and HKU SPACE for resale. They are stated at the lower of cost and net realisable value. Cost is calculated using the weighted average costing method. Net realisable value is determined on the basis of anticipated sales proceeds less estimated selling expenses. (n) Accounts Receivable If collection of accounts receivable is expected in one year or less (or in the normal operating cycle of the business if longer), they are classified as current assets. If not, they are presented as non-current assets. Accounts receivable are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less provision for impairment. The Group measures the loss allowance using a lifetime expected loss for accounts receivable. The expected loss rates are based on the historical observed default rates adjusted for forward-looking estimates. Impairment losses on accounts receivable are recognised within operating result. Accounts receivable are written off (either partially or in full) when there is no reasonable expectation of recovery. (o) Cash and Cash Equivalents In the consolidated statement of cash flows, cash and cash equivalents comprise cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts (if any).
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