Financial Report 2022

Notes to the Consolidated Financial Statements 合併財務報表附註 The University of Hong Kong 香港大學 35 主要會計政策－續 (l) 財務資產－續 (iv) 財務資產減值－續 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。 (n) 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。 (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）。 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (l) Financial Assets – Cont’d (iv) Impairment of financial assets – Cont’d When there is a significant increase in credit risk or the receivables are not settled in accordance with the terms stipulated in the agreements, management considers these receivables as underperforming or non-performing and impairment is measured as lifetime expected credit loss. When managemen t cons i de r s t ha t t he r e i s 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. (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 recognised within operating result. Accounts 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). Notes to the Consolidated Financial Statements 合併財務報表附註 2022 Financial Report 二零二二財務報告 36 主要會計政策－續 (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。 (q) 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。 (r) 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 未確認為收益則在合併財務狀況表列賬為遞 延收益。 1. PRINCIPAL ACCOUNTING POLICIES – Cont’d (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. (q) 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. (r) Deferred Income Funds ea rma r ked f o r spec i f i c pu r poses i nc l ud i ng government subventions, donations and benefactions (other than for purchase of property, plant and equipment and intangible assets or construction of buildings which are dealt with as Deferred Capital Funds), as well as i nteres t and i nves tment i ncome ar i s i ng f rom these funds are recognised in the 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 consolidated statement of financial position.