Financial Report 2020

31 The University of Hong Kong 香港大學 Notes to the Consolidated Financial Statements 合併財務報表附註 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。於二零一九年七月一日 前，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。自二零一九年七月一 日起應用的租賃土地會計政 策，請參照附註 1(k) 。 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。 1. PRINCIPAL ACCOUNTING POLICIES — Cont’d (i) Property, Plant and Equipment (i) Property Buildings (including the land and buildings) 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. Before 1 July 2019, leasehold land is 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. For accounting policies of leasehold land applied since 1 July 2019, please refer to note 1(k). 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, plant and equipment. These properties are 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 appropriate property, plant and equipment category and depreciated accordingly. Notes to the Consolidated Financial Statements 合併財務報表附註 2020 Financial Report 二零二零財務報告 32 1. 主要會計政策 — 續 (i) 物業、機器及設備 — 續 (iii) 機器及設備 機器及設備均按歷史成本減折 舊總額及累計減值虧損列值。 歷史成本值包括購入該項目之 直接費用。 如未來經濟效益很可能流入本 機構而項目成本可能計量時， 與已確認固定資產有關的其後 支出便會加入資產的賬面金 額，或確認為一項獨立資產。 所有其他維修及保養支出則在 產生的期間於合併綜合收益表 內確認為支出。 物業、機器及設備以直線法按 其預計之使用年限將其成本值 減累積減值虧損撇銷，其所採 用之預計使用年限如下： 租賃物業裝修 七年或租賃期，以較短者作準 裝修及設備 五年或項目壽命，以較短者作 準 圖書館藏書 五年 於每個結算日，評估該等資產 之剩餘價值及使用年限有否變 動，並作合適調整。如該資產 出現減值，則估算其可收回價 值，及將減值虧損入賬以將資 產減至其可收回價值。 (iv) 出售盈虧 出售物業、機器及設備之收益 或虧損乃出售所得的收入淨額 與其賬面金額和有關的儲備之 差額，並於合併綜合收益表入 賬。 1. PRINCIPAL ACCOUNTING POLICIES — Cont’d (i) Property, Plant and Equipment — Cont’d (iii) Plant and equipment Plant and equipment are stated at historical cost less accumulated depreciation and accumulated impairment losses. Historical cost includes expenditure that is directly attributable to the acquisition of the assets. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. All other repairs and maintenance costs are expensed in the consolidated statement of comprehensive income during the financial period in which they are incurred. Plant and equipment are depreciated at their cost less accumulated impairment losses over their estimated useful lives on a straight-line basis. The estimated useful lives of each category of property, plant and equipment are as follows: Leasehold improvements the shorter of 7 years and the lease term Fixtures and equipment the shorter of 5 years and the project lives Library books 5 years The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each statement of financial position date. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. (iv) Gain or loss on disposal The gain or loss on disposal of property, plant and equipment is the difference between the net sales proceeds and the carrying amount of the relevant asset, and is recognised in the consolidated statement of comprehensive income.