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 27 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (d) Interests in Associates – Cont’d The Group’s share of post-acquisition profit or loss is recognised in the income statement, and its share of post-acquisition movements in other comprehensive income is recognised in other comprehensive income with a corresponding adjustment to the carrying amount of the investment. When the Group’s share of losses in an associate equals or exceeds its interest in the associate, including any other unsecured receivables, the Group does not recognise further losses, unless it has incurred legal or constructive obligations or made payments on behalf of the associate. The Group determines at each reporting date whether there is any objective evidence that the investment in the associate is impaired. If this is the case, the Group calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value and recognises the amount adjacent to ‘share of surplus/(losses) of associates’ in the consolidated statement of comprehensive income. Pro f i t s and l osses r esu l t i ng f rom ups t r eam and downstream transactions between the Group and its associate are recognised in the Group’s financial statements only to the extent of unrelated investor’s interests in the associates. Unrealised losses are eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been changed where necessary to ensure consistency with the policies adopted by the Group. Ga i ns or l osses on d i l ut i on of equ i t y i nt eres t i n assoc i a t es a r e r ecogn i sed i n t he conso l i da t ed statement of comprehensive income. (e) Joint Arrangements T h e G r o up h a s a pp l i e d HKFRS 1 1 t o a l l j o i n t arrangements. Under HKFRS 11, investments in joint arrangements are classified as either joint operations or joint ventures depending on the contractual rights and obligations of each investor. The Group has assessed the nature of its joint arrangements and determined them to be joint ventures or joint operations as appropriate. Joint ventures are accounted for using the equity method. 1. 主要會計政策－續 (d) 聯營公司之投資－續 本機構應佔聯營公司購買後利潤或 虧損於利潤表內確認，而應佔其購 買後的其他綜合收益變動則於其他 綜合收益內確認，並相應調整投資 賬面值。如本機構應佔一家聯營公 司的虧損等於或超過其在該聯營公 司的權益，包括任何其他無抵押應 收款，本機構不會確認進一步虧 損，除非本機構對聯營公司已產生 法律或推定債務或已代聯營公司作 出付款。 本機構在每個報告日期釐定是否有 客觀證據證明聯營公司投資已減 值。如投資已減值，本機構計算減 值，數額為聯營公司可收回數額與 其賬面值的差額，並在合併綜合 收益表中確認於「應佔聯營公司盈 餘╱（虧損）」旁。 本機構與其聯營公司之間的上流和 下流交易的利潤和虧損，在本機構 的財務報表中確認，但僅限於無關 連投資者在聯營公司權益的數額。 除非交易提供證據顯示所轉讓資產 已減值，否則未實現虧損亦予以對 銷。聯營公司的會計政策已按需要 作出改變，以確保與本機構採用的 政策符合一致。 在聯營公司股權稀釋所產生的利得 或損失於合併綜合收益表確認。 (e) 合營安排 本機構對所有合營安排應用香港財 務報告準則第 11 號。根據香港財務 報告準則第 11 號，在合營安排的 投資必須分類為共同經營或合營企 業，視乎每個投資者的合同權益和 義務而定。本機構已評估其合營安 排的性質並釐定為合營企業或共同 經營。合營企業按權益法入賬。 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 28 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (e) Joint Arrangements – Cont’d (i) Joint ventures Under the equity method of accounting, the investments in joint ventures are initially recognised at cost and adjusted thereafter to recognise the Group’s share of the post-acquisition profits or losses and movements in other comprehensive income. Upon the acquisition of the ownership interest in a joint venture, any difference between the cost of the joint venture and the Group’s share of the net fair value of the joint venture’s identifiable assets and liabilities is accounted for as goodwill. When the Group’s share of losses in a joint venture equals or exceeds its interest in the joint ventures (which include any long-term interests that, in substance, form part of the Group’s net investment in the joint ventures), the Group does not recognise further losses, unless it has incurred obligations or made payments on behalf of the joint ventures. Unrealised gains on transactions between the Group and its joint ventures are eliminated to the extent of the Group’s interest in the joint ventures. Unr ea l i sed l osses a r e e l imi na t ed un l ess t he transaction provides evidence of an impairment of the asset transferred. Accounting policies of the joint ventures have been changed where necessary to ensure consistency with the policies adopted by the Group. In the University’s Statement of Financial Position, investments in joint ventures are stated at cost less provision for impairment losses. The results of the joint ventures are accounted for by the University on the basis of distributions received and receivable. (ii) Joint operations Assets that the Group controls and liabilities that it incurs in relation to the joint operations are recognised in the Group’s statement of financial position on an accruals basis and classified according to the nature of the item. The Group’s share of the income that it earns from the joint operations together with expenditure that it incurs are included in the Group’s consolidated statement of comprehensive income when it is probable that economic benefits associated with the transactions will flow to or from the Group. 1. 主要會計政策－續 (e) 合營安排－續 (i) 合營企業 根據權益法，合營企業權益初 步以成本確認，其後經調整以 確認本機構享有的收購後利潤 或虧損以及其他綜合收益變動 的份額。本機構對合營企業 的投資包括在購買時已辨認的 商譽。在購買合營企業的投資 時，購買成本與本機構享有的 對合營企業可辨認資產和負債 的公允價值淨額的差額確認為 商譽。當本機構享有某一合營 企業的虧損超過或相等於在該 合營企業的權益（包括任何實質 上構成機構在該合營淨投資的 長期權益），則本機構不確認進 一步虧損，除非本機構已產生 義務或已代合營企業付款。 本機構與其合營企業之間交易 之未變現收益按本機構在合營 企業權益對銷。除非交易提供 所轉讓資產減值之憑證，否則 未變現虧損亦予以對銷。合營 企業的會計政策已按需要作出 改變，以確保與本機構採用的 政策符合一致。 在本大學之財務狀況表內，合 營企業之投資以成本值扣除減 值虧損入賬。本大學將合營企 業之業績按已收及應收分派入 賬。 (ii) 共同經營 本機構就共同經營所控制之資 產及承擔之負債按應計準則根 據項目性質分類計入合併財務 狀況表，而本機構就此所佔收 入及所承擔開支則在本機構可 能獲得╱支付有關交易經濟利 益之情況下計入合併綜合收益 表。