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 37 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 were financial assets held for trading. A financial asset was classified in this category if acquired principally for the purpose of selling in the short term. Derivatives were also categorised as held for trading unless they were designated as hedges. Assets in this category include listed and unlisted securities, debt securities and bank deposits with embedded derivatives for yield enhancement. Assets in this category were classified as current assets if expected to be settled within 12 months; otherwise, they were classified as non-current. Available-for-sale financial assets Available-for-sale financial assets were non- derivatives that were either designated in this category or not classified in any of the other categories. They were included in non-current a s s e t s u n l e s s t h e i n v e s t me n t ma t u r e d o r management intended to dispose of the investment within 12 months of the statement of financial position date. (ii) Recognition and measurement Regular way purchases and sales of financial assets are recognised on the trade-date – the date on which the Group commits to purchase or sell the asset. Investments are initially recognised at fair value plus transaction costs for all financial assets not carried at fair value through profit or loss. Financial assets carried at fair value through profit or loss are initially recognised at fair value, and transaction costs are expensed in the consolidated statement of comprehensive income. Financial assets are derecognised when the rights to receive cash flows from the investments have expired or have been transferred and the Group has transferred substantially all risks and rewards of ownership. Financial assets at fair value through profit or loss are subsequently carried at fair value. From 1 July 2018, interest income from financial assets at amortised cost is included in finance income using the effective interest rate method. Any ga i n or l oss ar i s i ng on derecogn i t i on i s recognised directly in profit or loss and presented in other gains/(losses), together with foreign exchange gains and losses. Impairment losses are presented as separate line item in the consolidated statement of comprehensive income. 1. 主要會計政策－續 (m) 財務資產－續 (i) 分類－續 按公平值計入損益賬的財務資產 按公平值透過損益記賬的財務 資產指持有作買賣用途的財務 資產。財務資產若在購入時主 要用作在短期內出售，則分類 為此類別。衍生工具除非被指 定為對沖，否則亦分類為持作 買賣用途。此分類包括上市及 非上市證券，附帶衍生工具以 增加回報收益的債券及銀行存 款。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。 可供出售財務資產 可供出售財務資產為被指定為 此類別或並無分類為任何其他 財務資產類別的非衍生工具。 除非投資到期或管理層有意在 結算日後十二個月內出售該項 投資，否則此等資產列在非流 動資產內。 (ii) 確認及計量 正常買賣財務資產於成交日期 確認，即本機構承諾買賣資產 的日期。投資初步按公平值加 所有未有按公平值計入損益的 財務資產的交易成本確認。通 過損益表反映公平值變化的財 務資產最初以公平值確認，交 易成本在綜合收益表中確認為 支出。若該項財務資產的現金 收益接收權期滿或被轉讓，且 機構已轉讓此所有權的所有風 險及收益，該項財務資產確認 即會終止。通過損益表反映公 平值變化的財務資產其後以公 平值列賬。 自二零一八年七月一日起，來 自財務資產，按攤銷成本的利 息收入採用實際利率法計入財 務收入。終止確認時產生的任 何盈虧與匯兌損益一併於損 益中直接確認並列為其他收 益╱（虧損）。減值虧損於綜合 收益表內以單獨項目呈列。 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 38 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (m) Financial Assets – Cont’d (ii) Recognition and measurement – Cont’d Before 1 July 2018, loans and receivables were initially recognised at fair value and subsequently carried at amortised cost using the effective interest method. Financial assets carried at fair value through profit or loss were initially recognised at fair value, and transaction costs were expensed in the consolidated statement of comprehensive income. Financial assets at fair value through profit or loss were subsequently carried at fair value. Gains or losses arising from changes in the fair value of the ‘financial assets at fair value through profit or loss’ category were presented in the consolidated statement of comprehensive income within ‘interest and investment income’ in the period in which they arose. Dividend income from designated financial assets at fair value through profit or loss was recognised in the consolidated statement of comprehensive income as part of other income when the Group’s right to receive payments was established. He l d - t o -ma t u r i t y i nves tmen t s we r e i n i t i a l l y recognised at fair value plus transaction costs and subsequently carried at amortised cost using the effective interest method, less any identified impairment loss. Available-for-sale financial assets were initially recognised at fair value plus transaction costs and subsequently carried at fair value. Unrealised gains and losses arising from changes in the fair value of available-for-sale financial assets were recognised in other comprehensive income. When investments classified as available-for-sale were sold or impaired, the accumulated fair value adjustments recognised in equity were included in the consolidated statement of comprehensive income as gains and losses from investment. Interest on available-for-sale financial assets calculated using the effective interest method was recognised in the consolidated statement of comprehensive income. Dividends on available- for-sale financial assets were recognised in the consolidated statement of comprehensive income when the Group’s right to receive payments was established. 1. 主要會計政策－續 (m) 財務資產－續 (ii) 確認及計量－續 於二零一八年七月一日前，貸 款及應收賬項初始按公平值確 認，其後以實際利率法按攤銷 成本列賬。 按公平值計入損益賬的財務資 產初步按公平值確認，而交易 費用則在合併綜合收益表支 銷。按公平值計入損益賬的財 務資產其後按公平值列賬。 「通過損益表反映公平值變化的 財務資產」因公平值變化而產生 的損益，列入該年的綜合收益 表中的「利息及投資收益」中。 通過損益表反映公平值變化的 既定財務資產所生產的股息在 收取股息的權利確定時在綜合 收益表中確認為其他收入。 持有至到期財務資產初始按公 平值加交易費用確認，其後則 用實際利息法計算按攤銷成本 列賬。 可供出售財務資產初始按公平 值加交易費用確認，其後按公 平值列賬。 可供出售財務資產之公平值變 動產生之未變現盈虧，於其他 綜合收益確認。倘分類為可供 出售財務資產售出或減值時， 累計公平值調整列入合併綜合 收益表作為投資證券的盈虧。 可供出售財務資產利用實際利 率法計算的利息在合併綜合收 益表內確認。至於可供出售財 務資產的股息，當本機構收取 有關款項的權利確定時，在合 併綜合收益表內確認。