Page 137 - 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

4. Key Source of Estimation 4. Пࠇʔ׼ࣦΪ९ٙ˴
Uncertainty ࠅԸ๕

In the application of the Council’s accounting policies, which મ͉҅͜ึࠇ݁ഄʕ€νڝൗ3ה
are described in note 3, the management are required to make ͪdࠅӋ၍ଣᄴ࿁ʔঐᜑϾ׸Ԉ
judgments, estimates and assumptions about the carrying ԸІՉ˼Ը๕ٙ༟ପձࠋවሪࠦ
amounts of assets and liabilities that are not readily apparent ࠽ਂ̈кᓙeПࠇձ৿ணfПࠇձ
from other sources. The estimates and associated assumptions ޴ᗫ৿ண݊ਿ׵ዝ̦຾᜕ձൖމ
are based on historical experience and other factors that are ޴ᗫٙՉ˼Ϊ९fྼყഐ؈̙ঐၾ
considered to be relevant. Actual results may differ from these வԬПࠇʔΝf
estimates.

The estimates and underlying assumptions are reviewed on ၍ଣᄴึ࿁வԬПࠇʿהऒʿٙ
an ongoing basis. Revisions to accounting estimates are ৿ணආБܵᚃ൙Пfν؈ึࠇПࠇ
recognised in the period in which the estimate is revised if the ٙࡌࠈ̥࿁ᜊһ຅ಂପ͛ᅂᚤd
revision affects only that period, or in the period of the revision ༈ࡌࠈึ׵ᜊһ຅ಂᆽႩfν؈ึ
and future periods if the revision affects both current and future ࠇПࠇٙࡌࠈึ࿁ᜊһ຅ಂʿ͊
periods. Ըಂගପ͛ᅂᚤd༈ࡌࠈึ׵ᜊһ
຅ಂʿ͊Ըಂගʚ˸ᆽႩf

Key source of estimation uncertainty Пࠇʔ׼ࣦΪ९ٙ˴ࠅԸ
๕

The following is the key assumption concerning the future, ˸ɨމϞᗫ͊Ըٙ˴ࠅ৿ணʿ׵
and other key sources of estimation uncertainty at the end జѓಂ͋Пࠇʔ׼ࣦΪ९ٙՉ˼
of the reporting period, that have a significant risk of causing ˴ࠅԸ๕d̙ঐኬߧ࿁ɨɓৌ݁
a material adjustment to the carrying amounts of assets and ϋܓ༟ପࠋවሪࠦ࠽Ъ̈ࠠɽሜ
liabilities within the next financial year. ዆f

Impairment assessment of accounts receivable and ᏐϗሪಛၾΥߒ༟ପٙಯ࠽൙П
contract assets

The Council applies the HKFRS 9 simplified approach to ͉҅મ͜࠰ಥৌਕజѓ๟ۆୋ9໮
measure ECL which uses a lifetime ECL for all accounts ᔊʷ˙جࠇඎཫಂڦ൲ฦ̰d༈˙
receivable and contract assets. Except for those which had جԴ͜Ꮠϗሪಛٙ዆ࡈπᚃಂʫ
been determined as credit impaired under HKAS 39, accounts ཫಂڦ൲ฦ̰fৰ࣬ኽ࠰ಥึࠇ๟
receivable have been assessed individually with outstanding ۆୋ39໮ᆽႩʊ೯͛ڦ൲ಯ࠽ٙ
significant balances, the remaining balances are grouped based ධ̮ͦdᏐϗሪಛٙཫಂڦ൲ฦ̰
on internal credit rating. ʊ࣬ኽ͊Ꮅ˹ʘࠠɽቱᕘЪࡈй
൙Пd௵ቱቱᕘ࣬ኽʫ௅ڦ൲൙ॴ
ආБʱଡ଼f

Hong Kong Council for Accreditation of Academic and Vocational Qualifications 137
࠰ಥኪஔʿᔖุ༟ዝ൙ᄲ҅