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 41 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (o) 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. Impa i rmen t l os ses on accoun t s r ece i vab l e a r e recognised within operating result. Accounts receivable are written off (either partially or in full) when there is no reasonable expectation of recovery. (p) 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). (q) Provisions Provisions are recognised when there is a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliable estimated. Where a provision is expected to be reimbursed, the reimbursement is recognised as a separate asset but only when the reimbursement is virtually certain. Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate, that reflects current market assessments of the time value of money and the risk specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense. 1. 主要會計政策－續 (o) 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。 (p) 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）。 (q) 撥備 當因過往事件須承擔現有法律性或 推定性責任，而解除這些責任時可 能需要消耗資源並能確立撥備一筆 可靠性估計金額。當預計準備可獲 償付，則將償付金確認為一項獨立 資產，惟只能在償付金可實質確定 時確認。 如有多項類似責任，其需要在結算 中有資源流出的可能性，則可根據 責任的類別整體考慮。即使在同一 責任類別所包含的任何一個項目相 關的資源流出的可能性極低，仍須 確認撥備。 撥備採用稅前預期需償付有關責任 的開支的現值計量。該現值反映當 時市場對金錢時間值和有關責任固 有風險的評估。隨時間過去而增加 的撥備確認為利息費用。 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 42 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (r) Loans from the HKSAR Government Loans from the HKSAR Government are for financing full time programmes. They are regarded as government assistance and are recognised initially at fair value, net of transaction costs incurred. Loans are subsequently carried at amortised cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognised in the consolidated statement of comprehensive income over the period of the loans using the effective interest method. (s) Deferred Income Funds earmarked for specific purposes including government subventions, donations and benefactions ( o t he r t han f or pu r chase o f prope r t y , p l an t and equipment and intangible assets or construction of buildings which are dealt with as Deferred Capital Funds), as well as interest and investment income a r i s i ng f r om t hese f unds a r e r ecogn i sed i n t he consolidated statement of comprehensive income to the extent of the related expenditure incurred during the year. Funds received but not yet recognised as income are recorded as deferred income on the statement of financial position. (t) Funds (i) UGC Funds UGC Funds include General and Development Rese r ve Fund and unspen t ba l ance o f UGC Matching Grants. (1) General and Development Reserve Fund The General and Development Reserve Fund (“GDRF”) represents the unspent UGC funds of the University which are allowed to be carried forward at the period end. The balance of the GDRF at the end of the triennium is limited to a maximum of 20% of the University’s approved recurrent grants other than the earmarked grants for specific purposes for that funding period ending plus or minus any supplementary grants/adjustments made during the funding period as appropriate. Should the balance of the GDRF at the end of the triennium exceed the ceiling allowed for that funding period, the excess amount is refundable to the UGC. 1. 主要會計政策－續 (r) 香港特區政府貸款 香港特區政府貸款乃用作資助全日 制課程。該貸款乃屬於政府補助按 公平價值並扣除產生的交易費用為 初始確認。貸款其後按攤消成本列 賬；所得款（扣除交易成本）與贖回 價值的任何差額，利用實際利率法 於貸放期間內在合併綜合收益表確 認。 (s) 遞延收益 有指定用途的收益包括政府撥款、 外界捐助（除用以購置物業，機器及 設備及無形資產或在建工程之遞延 資本基金入賬）及有關的利息及投資 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。而已 收款項但並未確認為收益則在財務 狀況表列賬為遞延收益。 (t) 資金 (i) 教資會資金 教資會資金包括一般及發展儲 備基金及未動用之教資會配對 補助金。 (1) 一般及發展儲備基金 一般及發展儲備基金指本 大學未動用之可在期末結 轉之教資會基金。一般及 發展儲備基金於「三年撥款 期」結束時之結餘以大學獲 核准之經常性補助金（資助 期間用於特殊用途之指定 補助金除外）之百分之二十 加減資助期間作出之任何 補充撥款╱調整（如適宜） 為限。倘一般及發展儲備 基金於「三年撥款期」結束 時之結餘超過資助期間之 核准上限，則超出部分應 償還予教資會。