Hong Kong Institute of Accredited Accounting Technicians Limited ...

Notes
For the year ended 30 June 2006
1. Principal activities and registered office
The Group refers to Hong Kong Institute of Accredited
Accounting Technicians Limited (the Institute) and its subsidiary,
HKIAAT Scholarship Trust Fund (formerly known as HKAAT
Scholarship Trust Fund).
By a special resolution of the Board members and with the
approval of the Registrar of Companies, the Institute changed
its name from The Hong Kong Association of Accounting
Technicians Limited to Hong Kong Institute of Accredited
Accounting Technicians Limited on 18 February 2006.
The Institute, being a company limited by guarantee under the
Hong Kong Companies Ordinance, was incorporated in August
1988 under the auspices of the Hong Kong Institute of CPAs. Its
registered office was relocated to 27/F., Wu Chung House, 213
Queen’s Road East, Wanchai, Hong Kong with effect from 18
September 2006 (previously 17/F., Fortis Bank Tower, 77-79
Gloucester Road, Wanchai, Hong Kong). Its principal activities
are to uphold and promote the competencies of the Institute’s
members and students to meet business needs in Hong Kong
and the Mainland; to accredit relevant non-degree qualifications
and to offer premier member and student services.
The HKIAAT Scholarship Trust Fund was formed under a trust
deed dated 21 June 1999 for educational purposes and in
particular for the provision of scholarship to persons studying
for the examinations held by the Institute. The Fund is held in
trust by the President, the immediate Past President and
Chairman of the Administration and Finance Committee of the
Institute. The Fund, being a charitable trust, is exempt from tax
under Section 88 of the Inland Revenue Ordinance.
2. Principal accounting policies
a. Basis of preparation
The financial statements have been prepared in accordance
with the Hong Kong Financial Reporting Standards
(HKFRSs). The financial statements have been prepared
under the historical cost convention except as disclosed
in the accounting policies below.
In preparing the financial statements, the Group has
assessed and adopted in advance all issued HKFRSs. The
standard issued in this period and relevant to the
activities of the Institute is:
Effective date: accounting periods beginning 1 January
2007
1.
21327
77-79
17
88
2.
a.
HKAS 1
(Amendment)
“Capital Disclosures”
1
Capital
Disclosures
Annual Report 2005-2006
35