81
Financial Report
財務報告
81
Notes to the Financial Statements (continued)
財務報表附註（續）
For the year ended 31 March 2016
截至二零一六年三月三十一日止年度
3. SIGNIFICANT ACCOUNTING
POLICIES (continued)
Basis of preparation
The financial statements have been prepared on the historical
cost basis except for certain financial instruments that are
measured at fair values at the end of each reporting period, as
explained in the accounting policies below.
Historical cost is generally based on the fair value of the
consideration given in exchange for goods and services.
Fair value is the price that would be received to sell an asset
or paid to transfer a liability in an orderly transaction between
market participants at the measurement date, regardless of
whether that price is directly observable or estimated using
another valuation technique. In estimating the fair value of
an asset or a liability, the Council takes into account the
characteristics of the asset or liability if market participants
would take those characteristics into account when pricing
the asset or liability at the measurement date. Fair value for
measurement and/or disclosure purposes in these financial
statements is determined on such a basis, except for share-
based payment transactions that are within the scope of
HKFRS 2, leasing transactions that are within the scope of
HKAS 17, and measurements that have some similarities to
fair value but are not fair value, such as net realisable value in
HKAS 2 or value in use in HKAS 36.
3.
主要會計政策（續）
編製基準
財務報表乃以歷史成本基準編
撰，惟若干金融工具如下文載列
的會計政策所述於各報告期末之
公允價計量除外。
歷史成本一般基於為換取貨物及
服務所支付代價的公允值。
公允價是指市場參與者之間於計
量日期進行的有序交易中出售一
項資產所收取的價格或轉移一項
負債所支付的價格，無論該價格
是直接觀察到的結果還是採用其
他估值技術作出的估計。在對資
產或負債的公允價作出估計時，
本局考慮了市場參與者於計量日
期為該資產或負債進行定價時將
會考慮的該等特徵。在該等財務
報表中計量及╱或披露的公允價
均按此基礎予以確定，惟香港財
務報告準則第
2
號範圍內的股份付
款交易、香港會計準則第
17
號範
圍內的租賃交易、以及與公允值
類似但並非公允價的計量（例如香
港會計準則第
2
號中的可變現淨值
或香港會計準則第
36
號中的使用
價值）除外。