Annual Report 2008 年報 - Irasia.com

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2008
4. PRINCIPAL ACCOUNTING POLICIES
(Continued)
Financial Instruments (Continued)
4.
(iii)
Derecognition
(iii)
Financial assets are derecognized when the rights
to receive cash flows from the assets expire or
the financial assets are transferred and the Group
has transferred substantially all the risks and
rewards of ownership of the financial assets. On
derecognition of a financial asset, the difference
between the asset’s carry amount and the sum of
the consideration received and receivable and the
cumulative gain or loss that had been recognized
directly in equity is recognized in income
statement.
Financial liabilities are derecognized when the
obligation specified in the relevant contract is
discharged, cancelled or expires. The difference
between the carrying amount of the financial
liability derecognized and the consideration paid is
recognized in income statement.
Owner-occupied leasehold interest in land
Interests in leasehold land held for own use under
operating leases represent up-front payments to acquire
long-term interests in lessee-occupied properties. These
payments are stated at cost and are amortised over the
period of the lease on a straight-line basis to the income
statement.
Leased assets
Where substantially all of the risks and rewards
incidental to ownership of a leased asset have been
transferred to the Group (a “finance lease”), the asset
is treated as if it had been purchased outright. The
amount initially recognised as an asset is the present
value of the minimum lease payments payable over the
term of the lease. The corresponding lease commitment
is shown as a liability. Lease payments are analysed
between capital and interest. The interest element is
charged to the income statement over the period of the
lease and is calculated so that it represents a constant
proportion of the lease liability. The capital element
reduces the balance owed to the lessor.
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