Page 110 - HKCAAVQ AR 2018-19
P. 110

Financial Report ৌਕజѓ








               Notes to the Financial Statements (continued)
               ৌਕజڌڝൗ€ᚃ

               For the year ended 31 March 2019 ࿚Їɚཧɓɘϋɧ˜ɧɤɓ˚˟ϋܓ

               2.  Application of New and                                  2.  Ꮠ͜อࠈʿ຾ࡌࠈ࠰
                    Amendments to Hong Kong                                    ಥৌਕజѓ๟ۆ€˜࠰
                    Financial Reporting Standards                              ಥৌਕజѓ๟ۆ™
                    (“HKFRSs”) (continued)                                    €ᚃ



                    HKFRS 16 Leases (continued)                                ࠰ಥৌਕజѓ๟ۆୋ16໮
                                                                               ॡ༣€ᚃ


                    The right-of-use asset is initially measured at cost and   Դ͜ᛆ༟ପڋ֐ɗܲϓ͉ࠇඎd
                    subsequently measured at cost (subject to certain exceptions)   Չܝܲϓ͉€߰ʍԷ̮ઋرৰ̮
                    less accumulated depreciation and impairment losses, adjusted   ಯଢ଼ࠇұᔚʿಯ࠽ᑦฦࠇඎdԨఱ
                    for any remeasurement of the lease liability. The lease liability   ॡ༣ࠋවٙ΂ОࠠอࠇඎЪ̈ሜ
                    is initially measured at the present value of the lease payments   ዆fॡ༣ࠋවܲ׵༈˚֠͊˕˹ٙ
                    that are not paid at that date. Subsequently, the lease liability is   ॡږତ࠽ڋ֐ࠇඎfՉܝdॡ༣ࠋ
                    adjusted for interest and lease payments, as well as the impact   වึఱлࢹʿॡ༣˹ಛ˸ʿॡ༣
                    of lease modifications, amongst others. For the classification of   ࡌࠈʘᅂᚤഃЪ̈ሜ዆fఱତږ
                    cash flows, the Council currently presents upfront prepaid lease   ݴඎٙʱᗳϾԊd͉҅ͦۃਗ਼࠯
                    payments as investing cash flows in relation to leasehold lands   അཫ˹ॡ༣ಛධяΐމၾІٙ͜
                    for owned use. Upon application of HKFRS 16, lease payments   ॡ༣ɺή޴ᗫʘҳ༟ତږݴඎf
                    in relation to lease liability will be allocated into a principal and   ࣬ኽ࠰ಥৌਕజѓ๟ۆୋ16໮d
                    an interest portion which will be presented as financing cash   Ϟᗫॡ༣ࠋවٙॡ༣˹ಛਗ਼ʱᗳ
                    flows by the Council.                                      މ͉ږʿлࢹ௅ʱdԨਗ਼஗͉҅я
                                                                               ΐމፄ༟ତږݴඎf

                    Other  than certain  requirements  which  are  also  applicable   ৰݔԬΝᅵቇ͜׵̈ॡɛٙࠅӋ
                    to  lessor,  HKFRS  16  substantially  carries  forward  the  lessor   ̮d࠰ಥৌਕజѓ๟ۆୋ16໮ɽ
                    accounting requirements in HKAS 17, and continues to require   ߧෂו࠰ಥึࠇ๟ۆୋ17໮ʘ̈
                    a  lessor  to classify a  lease  either  as an operating lease  or  a   ॡɛึࠇஈଣ஝֛dԨᘱᚃࠅӋ̈
                    finance lease.                                             ॡɛਗ਼Չॡ༣ʱᗳމ຾ᐄॡ༣א
                                                                               ፄ༟ॡ༣f


                    Furthermore, extensive disclosures are required by HKFRS 16.  Ϥ̮d࠰ಥৌਕజѓ๟ۆୋ16໮
                                                                               ஝֛඲Ъ̈ᄿعמᚣf

                    As  at  31  March  2019,  the  Council  has  non-cancellable   ׵ɚཧɓɘϋɧ˜ɧɤɓ˚d͉҅
                    operating lease commitments of HK$29 as disclosed in note   ኹϞʔ̙࿞ቖٙ຾ᐄॡ༣וዄಥ
                    22. A preliminary assessment indicates that these arrangements   ࿆29ʩd׵ڝൗ22ʕמᚣfڋӉ൙
                    will meet the definition of a lease. Upon application of HKFRS   Пᜑͪ༈ഃτરਗ਼ୌΥॡ༣֛ٙ
                    16, the Council will recognise a right-of-use asset and a   ່dৰڢίᏐ͜࠰ಥৌਕజѓ๟ۆ
                    corresponding liability in respect of all these leases unless they   ୋ16໮ࣛ༈ഃॡ༣ୌΥЭᄆ࠽༟
                    qualify for low value or short-term leases.                ପא೵ಂॡ༣d͉҅ʑึᆽႩϞᗫ
                                                                               Դ͜ᛆ༟ପʿ޴Ꮠࠋවf


               110      Hong Kong Council for Accreditation of Academic and Vocational Qualifications
                        ࠰ಥኪஔʿᔖุ༟ዝ൙ᄲ҅
   105   106   107   108   109   110   111   112   113   114   115