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 31 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (h) Recognition of Income – Cont’d (ii) Tuition, programmes and other fees Tu i t i on , pr og r ammes and o t he r f ee i ncome , including composition fees, are recognised on an accruals basis. Unearned composition fees are included in accounts payable. (iii) Interest and investment income Interest income is recognised on a time proportion basis, taking into account the principal amounts ou t s t and i ng and t he e f f ec t i ve i n t e r es t r a t es applicable. Dividend income is recognised when the right to receive payment is established. Rea l i sed and unrea l i sed ga i ns or l osses are recognised in accordance with Note 1(m). In the case where the interest and investment income arises from funds earmarked for specific purposes, such income is deferred and recognised in the consolidated statement of comprehensive i ncome ove r t he pe r i od necessa r y to ma t ch with the related costs for which it is intended to compensate. (iv) Donations and benefactions Dona t i ons and bene f ac t i ons a r e r ecogn i sed as i ncome i n t he conso l i da t ed s t a t emen t o f comprehensive income when the right of collection is established by the Group. Outstanding pledges are not recognised as income unless a legal obligation on the donor is established by the Group. Donations and benefactions designated by the donor for specific purposes within a fixed period of time are recognised as income to the extent of the related expenditure incurred during the year. The f o l l owi ng i s an ana l ys i s o f t he Gr oup ’ s revenue by timing of satisfaction of performance obligations: (Expressed in thousand of Hong Kong dollars) （以港幣千元列賬） 2019 2018 Revenue from contracts with customers and students: 顧客及學生合約收益： At a point in time 在某一時點 268,276 269,806 Over time 在一段時間內 3,617,297 3,367,747 3,885,573 3,637,553 Revenue from other sources 其他來源收益 6,784,762 7,208,417 10,670,335 10,845,970 1. 主要會計政策－續 (h) 收益確認－續 (ii) 學費、課程及其他收費 學費、課程及其他收費按應計 制確認。未實現學費包括在應 付賬項內。 (iii) 利息及投資收益 利息收益依據未償還本金額及 適用利率按時間比例確認。 股息收益於收款權確立時確認。 已實現及未實現盈虧乃依據附 註 1(m) 入賬。 如利息及投資收益源自於指定 補助金的投資項目，這些利息 及投資收益乃按擬補償之成本 配合所需期間在合併綜合收益 表中記賬。 (iv) 外界捐助 本機構獲得之外界捐助均在確 立本機構的收賬權後入賬。而 未兌現的承諾捐獻，則在本機 構確立捐贈人有法定義務實現 所許下的承諾後確認為年度的 收益。經捐贈人指定於固定期 間內用作特定用途之外界捐助 以年內發生之支出金額為限列 賬。 以下為按履行履約責任之時間 割分之本機構收益分析： 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 32 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (i) Property, Plant and Equipment (i) Property Bu i l d i ngs ( i nc l ud i ng t he l and and bu i l d i ngs ) are stated at historical cost less accumulated depreciation and impairment losses. Historical cost includes expenditure that is directly attributable to the acquisition of the buildings and leasehold land. Leasehold land classified as a finance lease commences amortisation from the time when the land interest becomes available for its intended use. Buildings are depreciated over their estimated useful lives of 50 years and leasehold land are depreciated over the remaining lives of the leases. In the case where the term of the related leasehold land is shorter than the estimated useful life of the building, it will be depreciated over the term of the lease. However, if it is reasonably certain at the inception of the lease that the lease will be renewed at the discretion of the Group upon expiration of the current terms, the estimated useful lives of 50 years will be applied for depreciation of the building. Major repairs and refurbishments are expensed as incurred unless they substantially add to the total area of the building, prolong its useful life or improve the economic benefits of the building in which case they are capitalised and depreciated over their estimated useful lives to the Group. (ii) Construction in progress Construction in progress represents costs incurred on buildings where construction work has not been completed and which, upon completion, management intends to hold for use as property, p l an t and equ i pmen t . These p r ope r t i es a r e carried at cost which includes development and construction expenditure incurred and other direct costs attributable to the development less any accumulated impairment losses. No depreciation is provided for construction in progress since it is not in use. Upon receipt of the occupation permit issued by the Hong Kong SAR Government, the construction costs are transferred to the app r op r i a t e p r ope r t y , p l an t and equ i pmen t category and depreciated accordingly. 1. 主要會計政策－續 (i) 物業、機器及設備 (i) 物業 校舍（包括土地及校舍）以歷史 成本值減除累積折舊及減值虧 損後列值。成本值包括購置校 舍及租賃土地時之相關開支。 分類為融資租賃土地自土地權 益可供其擬定用途時開始攤 銷。校舍將按五十年之估計可 用年期計算折舊，租賃土地按 尚餘租期攤銷折舊。如相關的 土地租賃年期是較校舍估計可 用年期短，校舍則按租賃土地 年期計算折舊。但如可合理地 確定於租賃開始日本機構可於 現行的租賃年期滿後行使其續 約權以續訂土地租約，校舍則 可按五十年之估計可用年期計 算折舊。 如若大修及翻新可顯著增加校 舍之總面積、延長其可用年期 或提高校舍之經濟利益，其成 本亦撥充資本及按照本機構的 估計可用年期計算折舊。否 則，其大修及翻新的成本均於 發生年度中在合併綜合收益表 中支銷。 (ii) 在建工程 在建工程指在興建中的校舍之 成本，而管理層有意在工程完 成後持有此等物業作物業、機 器及設備用途。此等物業以成 本值列賬，包括發展與建築費 用，及屬於發展項目之其他直 接成本，扣除任何累積減值虧 損。在建工程因未投入使用， 故無折舊準備。但在收到香港 特別行政區政府發出之佔用許 可證時，該校舍之成本即撥歸 適當的物業、機器及設備項 目，並相應計算折舊。