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 37 主要會計政策－續 (l) 財務資產－續 (iv) 財務資產減值－續 本機構按前瞻基準評估與其按攤銷 成本列賬的債務工具相關之預期信 貸虧損。所應用之減值方法視乎信 貸風險是否出現大幅增加而定。 就應收賬項，本機構一般應用香港 財務報告準則第 9 號允許使用之簡 化方法，並於初始確認時確認應收 貸款整個存續期的預期信貸虧損。 按攤銷成本計量之財務資產（不包 括應收賬項）減值按十二個月預期 信貸虧損或全期預期信貸虧損計 量，視乎初次確認後信貸風險是否 大幅增加而定。倘自初次確認後應 收款的信貸風險大幅增加，則按全 期預期信貸虧損計量減值。 倘信貸風險大幅增加或應收款未根 據協議所載條款結付，則管理層認 為該等應收款表現不理想或無表現 及按全期預期信貸虧損計量減值。 倘管理層認為並無預期合理收回款 項的可能，則按攤銷成本計量之財 務資產將撇銷。 (m) 存貨 存貨包括指由香港大學出版社及香港大 學專業進修學院持有以供轉售之書籍。 該等存貨乃按成本與可變現淨值兩者中 之較低者列賬，成本乃採用加權平均法 計算。可變現淨值則以預計銷售收入扣 除估計銷售開支計算。 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (l) Financial Assets – Cont’d (iv) Impairment of financial assets – Cont’d The Group assesses on a forward looking basis the expected credit losses associated with its debt instruments carried at amortised cost. The impairment methodology applied depends on whether there has been a significant increase in credit risk. For accounts receivable, the Group applies the simplified approach permitted by HKFRS 9, which requires expected lifetime losses to be recognised from initial recognition of the receivables. Impairment on financial assets measured at amortised cost other than accounts receivable i s measured as e i ther 12-month expected c r ed i t l os ses o r l i f e t ime expec t ed c r ed i t losses, depending on whether there has been a significant increase in credit risk since initial recognition. If a significant increase in credit risk of a receivable has occurred since initial recognition, then impairment is measured as lifetime expected credit loss. When there is a significant increase in credit risk or the receivables are not settled in accordance with the terms stipulated in the agreements, managemen t cons i de r s t hese r ece i vab l es as underperforming or non-performing and impairment is measured as lifetime expected credit loss. When management considers that there is no reasonable expectation of recovery, the financial assets measured at amortised cost will be written off. (m) Inventories Inventories comprise books held by the Hong Kong University Press and HKU SPACE for resale. They are stated at the lower of cost and net realisable value. Cost is calculated using the weighted average costing method. Net realisable value is determined on the basis of anticipated sales proceeds less estimated selling expenses. 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 38 主要會計政策－續 (n) 應收賬項 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。 (o) 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）。 (p) 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。 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (n) 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. Impairment losses on accounts receivable are r ecogn i sed wi t h i n ope r a t i ng r esu l t . Accoun t s receivable are written off (either partially or in full) when there is no reasonable expectation of recovery. (o) 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). (p) 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.