Consolidated Financial Statements - Acer Group

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58ACER INCORPORATED AND SUBSIDIARIESNotes to Consolidated Financial Statements (continued)(4) The Consolidated Companies have entered into several operating lease agreements for warehouses,land and office buildings. Future minimum lease payments were as follows:Year NT$ US$2012 709,319 23,4172013 419,154 13,8382014 248,442 8,2022015 141,170 4,6612016 and thereafter 656,960 21,6892,175,045 71,807(5) As of December 31, 2011 and 2010, the Company had provided promissory notes amounting toNT$47,435,962 and NT$39,931,666, respectively, as collaterals for factored accounts receivable andfor obtaining credit facilities from financial institutions.8. Significant Loss from Casualty: None9. Subsequent Events:10. Others(1) Labor cost, depreciation and amortization categorized by function2011 2010Operatingexpense Cost of sales TotalOperatingexpense Cost of sales TotalNT$ NT$ NT$ NT$ NT$ NT$Labor cost:Salaries 12,689,951 1,793,982 14,483,933 13,133,144 2,073,441 15,206,585Insurance 1,281,016 178,317 1,459,333 1,191,827 165,214 1,357,041Pension 620,642 26,511 647,153 483,702 24,658 508,360Other 917,598 137,228 1,054,826 755,314 134,868 890,182Depreciation 665,689 59,873 725,562 648,953 55,533 704,486Amortization 1,982,823 162,277 2,145,100 1,609,831 281,287 1,891,118(2) ReclassificationsCertain amounts in the 2010 consolidated financial statements have been reclassified to conform tothe 2011 presentation for comparison purpose. The reclassifications did not have significant impacton the financial statements.(Continued)
59ACER INCORPORATED AND SUBSIDIARIESNotes to Consolidated Financial Statements (continued)(3) The significant financial assets and liabilities denominated in foreign currencies were as follows:ForeignCurrency(in thousands)2011.12.31 2010.12.31New TaiwanForeignExchange dollarsCurrency ExchangeRate (in thousands) (in thousands) RateNew Taiwandollars(in thousands)Financial assetsMonetary assetsUSD $ 2,216,332 30.29 67,132,706 2,552,262 29.13 74,347,392EUR 932,474 39.26 36,616,942 1,833,495 38.9876 71,483,570RMB 2,758,749 4.81 13,274,637 3,014,289 4.41 13,293,014Non-monetary assetsUSD 46,851 30.29 1,419,115 33,658 29.13 980,458Financial liabilitiesMonetary liabilitiesUSD 3,107,031 30.29 94,111,982 3,817,104 29.13 111,192,240EUR 224,257 39.26 8,919,687 403,863 38.9876 15,745,649RMB 115,150 4.81 554,085 810,156 4.41 3,572,788Non-monetary assetsUSD 41,348 30.29 1,252,417 67,062 29.13 1,953,515(4) According to the Rule No. 0990004943 issued by the Financial Supervisory Commission (“FSC”)dated February 2, 2010, staring from 2013, companies with shares listed on the Taiwan StockExchange Corporation or traded on the Taiwan GreTai Securities Market or Emerging Stock Marketshould prepare their consolidated financial statements in accordance with the International FinancialReporting Standards (“IFRSs”), International Accounting Standards (“IASs”), Interpretationsdeveloped by the International Financial Reporting Interpretations Committee (“IFRIC”) or theformer Standing Interpretations Committee (“SIC”) translated by the Accounting Research andDevelopment Foundation (“ARDF”) and issued by FSC (hereinafter referred to collectively as the“IFRSs”). As a result, the Company has established a taskforce to monitor and execute the IFRSsadoption plan. Leading the implementation of this plan is Eva Ho, the chief financial officer. Themain contents of the plan, schedule and status of execution as of December 31, 2011 are listed below.Contents of planResponsibleDivisionStatus ofexecution1) Assessment phase (2010/1/1~2011/12/31)◎ Develop the implementation plan and set up a projectteam◎ Compare and analyze the difference between R.O.C.GAAP and IFRSs◎ Evaluate the potential adjustments to the existingaccounting polices◎ Evaluate the applicability of the IFRS 1 “First-timeAdoption of International Financial Reporting Standards”◎ Evaluate the potential adjustments to the informationtechnology systems and internal controls2) Preparation phase (2011/1/1~2012/12/31)◎ Determine how to adjust the existing accounting policiesto conform with IFRSs◎ Determine how to apply the IFRS 1“First-time Adoptionof International Financial Reporting Standards”Finance Division CompletedIFRS project team CompletedIFRS project team CompletedIFRS project team CompletedIFRS project team CompletedIFRS project team CompletedIFRS project team Completed(Continued)
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Consolidated Financial Statements - Acer Group

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