Financial Report 2021

Notes to the Consolidated Financial Statements 合併財務報表附註 The University of Hong Kong 香港大學 29 主要會計政策－續 (g) 收益確認－續 以下為按履行履約責任之時間割分 之本機構收益分析： 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (g) Recognition of Income – Cont’d The following is an analysis of the Group’s revenue by timing of satisfaction of performance obligations: (Expressed in thousands of Hong Kong dollars) （以港幣千元列賬） 2021 2020 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 281,927 274,658 Over time 在一段時間內 4,327,379 4,120,898 4,609,306 4,395,556 Revenue from other sources 其他來源收益 10,039,307 8,118,583 14,648,613 12,514,139 (h) Property, Plant and Equipment (i) Property 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. 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 comp l e t ed and wh i ch , 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 deve l opment l ess any accumu l ated 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. (h) 物業、機器及設備 (i) 物業 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 校舍時之相關開支。 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。 Notes to the Consolidated Financial Statements 合併財務報表附註 2021 Financial Report 二零二一財務報告 30 主要會計政策－續 (h) 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： 校舍 五十年 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。 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (h) 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 cos t l ess accumu l a t ed impa i rmen t l osses 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: Buildings 50 years 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.