Page 117 - HKCAAVQ AR 2018-19

Financial Report ৌਕజѓ

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

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

3. Significant Accounting Policies 3. ˴ࠅึࠇ݁ഄ€ᚃ
(continued)

Government grants ִ݁໾п

Government grants are not recognised until there is reasonable ִ݁໾пί̙Υଣڭᗇ͉҅ਗ਼፭
assurance that the Council will comply with the conditions ς໾пږהڝ੭ٙૢ΁˲ਗ਼ટᐏ
attaching to them and that the grants will be received. ໾пږࣛd˙ʚᆽႩf

Government grants are recognised in profit or loss on a ִ݁໾пɗ׵͉҅ਗ਼໾пږᏝ໾
systematic basis over the periods in which the Council ᎵٙϞᗫϓ͉ᆽႩމක˕ٙಂග
recognises as expenses the related costs for which the Ϟӻ୕ή׵ฦूʕᆽႩfՈ᜗Ͼ
grants are intended to compensate. Specifically, government Ԋd˴ࠅૢ΁މ͉҅඲ᒅ൯eܔண
grants whose primary condition is that the Council should א˸Չ˼˙όϗᒅڢݴਗ༟ପٙ
purchase, construct or otherwise acquire non-current assets ִ݁໾пึ׵ৌਕًرڌʫᆽႩ
are recognised as deferred revenue in the statement of financial މ჈ַϗɝdԨϞӻ୕ʿΥଣή
position and transferred to profit or loss on a systematic and ܲϞᗫ༟ପٙԴ͜ϋಂᔷᅡЇฦ
rational basis over the useful lives of the related assets. ूf

Government grants that are receivable as compensation for Ъމʊପ͛ක˕אฦ̰ٙ໾Ꮅٙ
expenses or losses already incurred or for the purpose of giving Ꮠϗಛධאމ͉҅౤Զуࣛৌ݁
immediate financial support to the Council with no future related ˕౪€ʔऒʿ͊Ը޴ᗫϓ͉ٙ݁
costs are recognised in profit or loss in the period in which they ִпږ׵ϓމᏐϗಛධٙಂග׵
become receivable. ฦूʕᆽႩf

Fixed assets ո֛༟ପ

Fixed assets are stated in the statement of financial position ո֛༟ପܲ๫ϓ͉࠽ಯՉܝٙଢ଼
at cost, less subsequent accumulated depreciation and ࠇұᔚʿՉܝٙଢ଼ࠇಯ࠽ฦ̰ί
subsequent accumulated impairment losses, if any. ৌਕًرڌజ࠽€νϞf

Depreciation is recognised so as to write off the cost of assets ո֛༟ପධͦٙұᔚ݊˸ٜᇞج
less their residual values over their estimated useful lives, using ί˸ɨཫࠇ̙͜ಂࠢʫәቖՉϔ
the straight-line method as follows: ৰПࠇಞ࠽ٙϓ͉ࠇၑj

Leasehold improvements Over the remaining term of the ॡ༣ҷԄ ֠ቱॡ༣ϋಂ
lease
Furniture and equipment 5 years ௧Ոձண௪ 5ϋ
Computer equipment 5 years ཥ໘ண௪ 5ϋ

Hong Kong Council for Accreditation of Academic and Vocational Qualifications 117
࠰ಥኪஔʿᔖุ༟ዝ൙ᄲ҅