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 35 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (l) Impairment of Investments in Subsidiaries, Associates, Joint Ventures and Non-Financial Assets Assets that have an indefinite useful life are not subject to amortisation and are tested annually for impairment. Assets that are subject to amortisation are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. For the purpose of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units). Non-financial assets other than goodwill that suffered impairment are reviewed for possible reversal of the impairment at each reporting date. Impairment testing of the investments in subsidiaries, associates or joint ventures is required upon receiving dividends from these investments if the dividend exceeds the tota l comprehens i ve i ncome of the subsidiary, associates or joint ventures in the period the dividend is declared or if the carrying amount of the investment in the separate financial statements exceeds the carrying amount in the consolidated financial statements of the investee’s net assets including goodwill. (m) Financial Assets (i) Classification From 1 July 2018, the Group classifies its financial investments and other financial assets either those to be measured subsequently at fair value through profit or loss, or those to be measured at amortised cost. The classification depends on the entity’s business model for managing the financial investments and other financial assets and the contractual terms of the cash flows. The Group reclassifies debt investments when and only when its business model for managing those assets changes. Financial assets at amortised cost Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortised cost. They are included in current assets, except for maturities greater than 12 months after the end of reporting period. These are classified as non-current assets. 1. 主要會計政策－續 (l) 附屬公司、聯營公司、合營企 業及非財務資產之減值 使用壽命不確定的資產無需攤銷， 但每年須就減值進行測試。須作攤 銷的資產當有事件出現或情況改變 顯示賬面值可能無法收回時就減值 進行檢討。減值虧損是賬面值大於 可收回值。可收回值是公平值減去 銷售成本與使用價值兩者較高之金 額。於評估減值時，資產按可分開 辨認之現金流量（現金產出單元）以 最低層次組合。除商譽以外，已蒙 受減值的非財務資產在每個報告日 期均就減值是否可以撥回進行檢討。 當收到附屬公司、聯營公司或合營 企業投資的股利時，而股利超過附 屬公司、聯營公司或合營企業在股 利宣佈期間的綜合收益，或在單獨 財務報表的投資賬面值超過被投資 方淨資產（包括商譽）在合併財務報 表的賬面值，則必須對有關投資進 行減值測試。 (m) 財務資產 (i) 分類 自二零一八年七月一日起，本 機構將其財務投資及其他財務 資產分類為其後通過損益表反 映公平值變化的財務資產或按 攤銷成本計量。分類方式視乎 機構管理財務投資及其他財務 資產之業務模式及現金流量合 約條款而定。 僅當本機構管理該等資產的業 務模式發生變動時，本機構方 會重新分類債務投資。 財務投資，按攤銷成本 倘若持有資產目的為收取合約 現金流量，而該等資產的現金 流量僅為支付本金及利息，則 該等資產按攤銷成本計量。該 資產屬流動資產，但如果在報 告期間完結後超過十二個月才 到期，則屬非流動資產。 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 36 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (m) Financial Assets – Cont’d (i) Classification – Cont’d Financial assets at fair value through profit or loss Financial assets at fair value through profit or loss are financial assets which are managed in accordance with internal documented risk management guidelines or investment strategy p r o v i ded by t he Gr oup ’ s k e y managemen t personnel. Assets in this category are stated at fair value. Assets in this category are classified as current assets if expected to be settled within 12 months; otherwise, they are classified as non- current. Before 1 July 2018, the Group classified its financial assets in the following categories: loans and receivables, held-to-maturity investments, financial assets at fair value through profit or loss and available-for-sale financial assets. The classification depended on the purpose for which the financial assets were acquired. Management determined the classification of its financial assets at initial recognition. Loans and receivables Loans and receivables were non-derivative financial assets with fixed or determinable payments that were not quoted in an active market. They were included in current assets, except for maturities greater than 12 months after the end of reporting period. These were classified as non-current assets. Held-to-maturity investments Held-to-maturity investments were non-derivative f i nanc i a l asse t s wi t h f i xed o r de t e rmi nab l e payments and fixed maturities that the Group’s management had the positive intention and ability to hold to maturity. If the Group were to sell other than an insignificant amount of held-to-maturity financial assets, the whole category would be tainted and reclassified as available for sale. Held- to-maturity financial assets were included in non- current assets, except for those with maturities less than 12 months from the end of the reporting period, which were classified as current assets. 1. 主要會計政策－續 (m) 財務資產－續 (i) 分類－續 通過損益表反映公平值變化的 財務資產 通過損益表反映公平值變化的 財務資產是指根據內部書面記 載的風險管理指引或機構主要 管理層提供的投資策略所管理 之財務資產。此類別之資產 是按公平值陳述。在此類別的 資產若預期將於結算日後十二 個月內變現，則分類為流動資 產；否則分類為非流動資產。 於二零一八年七月一日前，本 機構將其財務資產投資分類如 下﹕貸款及應收賬項、持至到 期日投資、按公平值計入損益 賬的財務資產及可供出售財務 資產。分類方式視乎購入投資 目的而定。管理層在首次確認 時釐定其投資的分類。 貸款及應收賬項 貸款及應收款為有固定或可釐 定付款且沒有在活躍市場上報 價的非衍生財務資產。此等款 項包括在流動資產內，但到期 日由結算日起計超過十二個月 者，則分類為非流動資產。 持至到期日投資 持至到期日投資為有固定或可 釐定付款以及固定到期日的非 衍生財務資產，而本機構管理 層有明確意向及能力持有至其 到期日。如本機構將出售持 至到期日投資非微不足道的數 額，整個類別將被重新分類為 可供出售。除了到期由報告期 末起計不足十二個月的持有至 到期財務資產分類為流動資產 外，此等資產列入非流動資產 內。