Notes to Fina - 星島新聞集團

Notes to Fina
Notes to Financial Statements
31 December 2002
2. IMPACT OF NEW AND REVISED STATEMENTS OF
STANDARD ACCOUNTING PRACTICE (“SSAPs”)
(continued)
2.
SSAP 34 prescribes the recognition and measurement
criteria to apply to employee benefits, together with
the required disclosures in respect thereof. The
adoption of this SSAP has resulted in no change to the
previously adopted accounting treatments for employee
benefits. However, disclosures are now required in
respect of the Company’s share option schemes, as
detailed in note 35 to the financial statements. These
share option schemes disclosures are similar to those
required by the Rules Governing the Listing of Securities
on The Stock Exchange of Hong Kong Limited (the
“Listing Rules”) previously included in the Report of
the Directors, which are now required to be included
in the notes to the financial statements as a
consequence of the SSAP.
34
35
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
3.
Basis of preparation
These financial statements have been prepared in
accordance with Hong Kong Statements of Standard
Accounting Practice, accounting principles generally
accepted in Hong Kong and the disclosure requirements
of the Hong Kong Companies Ordinance. They have been
prepared under the historical cost convention, except
for the periodic remeasurement of certain fixed assets,
investment properties and investments in securities,
as further explained below.
62
Global China Group Holdings Limited Annual Report 2002