Contents Understanding the disclosure requirements in IFRS 12 4 Appendix 1: Example disclosures for subsidiaries 14 Appendix 2: Example disclosures fo

Transcription

1 Practical Guide to IFRS Understanding the disclosure requirements in IFRS 12 国际财务报告准则实务指南 理解国际财务报告准则第 12 号中的披露要求 February 年 2 月 English with Chinese Translation 中英文对照

2 Contents Understanding the disclosure requirements in IFRS 12 4 Appendix 1: Example disclosures for subsidiaries 14 Appendix 2: Example disclosures for unconsolidated structured entities 26 Appendix 3: Illustration of disclosures for interests in joint arrangements and associates 32 Appendix 4: Disclosure checklist extracts 44 2 Supplement to the Practical Guide - Understanding the disclosure requirements in IFRS 12

3 目录 理解国际财务报告准则第 12 号中的要求 5 附录 1: 子公司披露示例 15 附录 2: 未合并的结构性主体披露示例 27 附录 3: 对在合营安排和联营企业中的权益披露的说明 33 附录 4: 披露核对表摘录

4 Understanding the disclosure requirements in IFRS 12 What do the requirements cover? IFRS 12, Disclosure of Interests in Other Entities, requires extensive disclosures for: interests in subsidiaries; structured entities (both consolidated and not consolidated); joint arrangements; and associates. IFRS 12 is applicable for annual reporting periods beginning on or after 1 January In this paper, we highlight the key disclosure requirements and provide example disclosures. IFRS 12 aims to provide the users of financial statements with sufficient disclosures for them to assess the nature of, and risks and financial effects associated with, the entity s interests in subsidiaries, joint arrangements, associates and unconsolidated structured entities. Entities should consider the level of detail that is needed to satisfy this objective, how much emphasis to place on each of the requirements, and to what extent it should aggregate the information (taking consideration of materiality). Useful information should not be obscured by the inclusion of a large amount of insignificant detail, on the one hand, or by too much aggregation of items with different risk and return characteristics, on the other. Significant judgements and assumptions IFRS 12 requires an entity to disclose information about the significant judgements and assumptions it has made, including those relating to whether it has control of another entity, and where changes in circumstances alter the entity s conclusion about whether it has control. In particular, an entity should disclose significant judgements and assumptions made in determining that: it holds more than half of the voting rights of another entity where it does not have control; it holds less than half of the voting rights of another entity where it has control; and it is an agent or principal with respect to another entity. Interest in subsidiaries IFRS 12 requires disclosures for each of an entity s subsidiaries that have material non-controlling interests. Such disclosures assist users when estimating future profit or loss and cash flows (for example, by identifying the assets and liabilities that are held by subsidiaries, risk exposures of particular group entities, and those subsidiaries that have significant cash flows). The disclosures are as follows (new disclosures compared to the previous standard are in bold): The subsidiary s name 1. Its principal place of business (and country of incorporation, if different) 1. The proportion of ownership interests held by non-controlling interests 1. The proportion of voting rights held by non-controlling interests, if different from the proportion of ownership interests held 1. The profit or loss allocated to noncontrolling interests of the subsidiary during the reporting period. The accumulated non-controlling interests of the subsidiary at the end of the reporting period. Summarised financial information about the subsidiary. 1 These disclosures only had to be made in separate financial statements of a parent entity. However, information of this nature would also be required under IAS 24, Related Party Disclosures. 4 Supplement to the Practical Guide - Understanding the disclosure requirements in IFRS 12

5 理解国际财务报告准则第 12 号中的要求 该披露要求涵盖哪些内容? 国际财务报告准则第 12 号 对其他主体中权益的披露 ( IFRS 12 ) 要求对下列项目作出详细披露 : 在子公司中的权益 ; 结构性主体 ( 包括合并及未合并的结构性主体 ); 合营安排 ; 及 联营企业 IFRS 12 适用于起始日在 2013 年 1 月 1 日或之后的年度报告期间 本文中, 我们重点讲述主要的披露要求并提供披露示例 IFRS 12 旨在向财务报表使用者提供充分的披露, 以供其评估主体在子公司 合营安排 联营企业及未合并的结构性主体中权益的性质以及与该权益相关的风险和财务影响 主体应考虑满足这一目标所需披露信息的详细程度 对每项披露要求的侧重程度及相关信息汇总的程度 ( 在考虑重要性的基础上 ) 有用的信息不应被披露大量不重要的细节或过多汇总具有不同风险和回报特征的项目而掩盖 重大判断和假设 IFRS 12 要求披露主体作出的重大判断和假设信息, 包括是否对另一主体拥有控制权, 以及是否由于情况变化而改变了主体拥有控制权的结论 持有另一主体半数以上表决权但无控制权 ; 持有另一主体不足半数的表决权但拥有控制权 ; 及 是另一主体的代理人还是委托人 在子公司中的权益 IFRS 12 要求披露每一个拥有重大非控制性权益的子公司信息 此类披露帮助财务报表使用者估计未来的损益和现金流量 ( 例如, 通过识别子公司持有的资产和负债 特定集团主体的风险敞口以及具有重大现金流量的子公司 ) 披露信息如下 ( 较原准则相比新增披露信息以黑体字显示 ): 子公司名称 1 主要业务经营地 ( 以及设立地所属国家, 如与主要业务经营地不同 ) 1 非控制性权益持有的所有权权益比例 1 非控制性权益持有的表决权比例, 如不同于持有的所有权权益比例 1 在报告期间分配到子公司非控制性权益的损益 在报告期末子公司的累计非控制性权益 子公司的汇总财务信息 1 这些披露仅体现在母公司的单独财务报表中 但根据 国际会计准则第 24 号 关联方披露, 该类信息也要进行披露 主体应特别披露在确定下列事项时所作的重大判断和假设 :

6 Non-controlling interests The summarised financial information referred to above helps users to understand the interest that non-controlling interests have in the group s activities and cash flows. It includes the assets, liabilities, profit or loss and cash flows of the subsidiary. It might include, but is not limited to, current/noncurrent assets, current/non-current liabilities, revenue, profit or loss, and total comprehensive income. Dividends paid to non-controlling interests should also be disclosed. The amounts disclosed should be given before inter-company eliminations. Significant restrictions An entity must explain if there are any significant restrictions on its ability to access or use the assets and settle the liabilities of the group (for example, a limited ability to transfer cash or assets within the group, restrictions on distributions or loan repayments, and the existence of protective rights held by non-controlling interests). Changes in a parent s ownership interest If there is a change in a parent s ownership interest in a subsidiary that does not result in loss of control, an entity should present a schedule that shows the effects on the equity attributable to the parent s owners. This would typically be in relation to a share buyback or a subsidiary issuing shares in a stock-based compensation arrangement. Conversely, if the entity has lost control of a subsidiary during the reporting period, it must disclose: the gain or loss, calculated in accordance with paragraph 25 of IFRS 10; and the portion of that gain or loss that is attributable to measuring any investment retained in the former subsidiary at its fair value at the date when control is lost, and the line item(s) in profit or loss in which the gain or loss is recognised (if not presented separately). Consolidated structured entities nature of the risks A structured entity is an entity that has been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity. An example would be when voting rights relate to administrative tasks only, and the relevant activities are directed by means of contractual arrangements. If the entity holds interests in consolidated structured entities, it must disclose information that enables users of its financial statements to evaluate the nature of, and changes in, the risks associated with its interests in consolidated structured entities. This includes: the terms of any contractual arrangements that could require any entity within the group to provide financial support to a consolidated structured entity; the type and amount of financial or other support provided to a consolidated structured entity during the reporting period (including assistance to the structured entity in obtaining financial support), and the reasons for providing such support; if an entity within the group has provided financial or other support to a previously unconsolidated structured entity (without the obligation to do so) which resulted in the entity controlling the structured entity, an explanation of the relevant factors in reaching this decision; and disclosure of any current intentions to provide financial or other support to a consolidated structured entity (including intentions to assist the structured entity in obtaining financial support). 6 Supplement to the Practical Guide - Understanding the disclosure requirements in IFRS 12

7 非控制性权益 以上提及的汇总财务信息可以帮助财务报表使用者理解非控制性权益在集团经营活动和现金流量中占有的利益 汇总财务信息包括子公司的资产 负债 损益和现金流量 其可能包括但不限于流动 / 非流动资产 流动 / 非流动负债 收入 损益和综合收益总额 支付给非控制性权益的股利也应披露 汇总财务信息中披露的金额应为公司间内部往来抵销前的金额 重大限制 主体必须说明是否存在任何对其接触或使用集团资产和偿还集团负债的重大限制 ( 例如, 在集团内转移现金或资产能力的限制 对分配股利或偿还贷款的限制, 以及非控制性权益持有的保护性权利 ) 母公司所有权权益的变化 如果母公司在子公司中的所有权权益发生变化但并未丧失控制权, 则主体应列示出该变动以反映对归属于母公司所有者权益的影响 这通常与股份回购或子公司在以权益结算的股份支付安排中发行股份相关 相反, 如果主体在报告期间丧失了对子公司的控制权, 则其必须披露 : 按照 IFRS 10 第 25 段计算的利得或损失 ; 及 计算对原子公司剩余投资在控制权丧失日的公允价值而形成的利得或损失, 以及该利得或损失所计入的利润表项目 ( 若未单独列报 ) 合并的结构性主体 风险的性质 结构性主体是指被设计成表决权或类似权利并不是决定控制的决定性因素的主体 例如表决权仅与日常行政管理工作相关, 相关活动通过合同安排来主导 如果主体拥有在合并的结构性主体中的权益, 则其必须披露信息以使财务报表使用者能够评估主体在合并的结构性主体中权益的相关风险的性质和变化 这包括 : 要求集团内的任何主体向合并的结构性主体提供财务支持的任何合同安排的条款 ; 在报告期间内向合并的结构性主体提供财务或其他支持的类型和金额 ( 包括协助结构性主体获取财务支持 ), 以及提供相关支持的原因 ; 如果集团内的主体 ( 在无合同义务的情况下 ) 向之前未合并的结构性主体提供财务或其他支持从而可以对该结构性主体实施控制, 则需要解释得出这一结论所考虑的相关因素 ; 及 披露向合并的结构性主体提供财务或其他支持的任何现时意图 ( 包括协助结构性主体获取财务支持的意图 )

8 Interests in unconsolidated structured entities If the entity has any interests in unconsolidated structured entities, there are a number of new disclosures that will apply for the first time. In summary, it must disclose information that enables users of its financial statements: to understand the nature and extent of its interests in unconsolidated structured entities; and to evaluate the nature of, and changes in, the risks associated with its interests in unconsolidated structured entities (including an entity s exposure to risk from involvement with unconsolidated structured entities in previous periods, even if the contractual involvement had ceased at the reporting date). To achieve this, the entity should provide: qualitative and quantitative information about its interest in unconsolidated structured entities (nature, purpose, size and activities of the entity, and how the entity is financed); the carrying amounts of assets and liabilities recognised in its financial statements relating to its interests in unconsolidated structured entities, and the line items in the statement of financial position in which those assets and liabilities are recognised; the amount that best represents its maximum exposure to loss from its interests in unconsolidated structured entities, including how the maximum amount is determined; a comparison of the amounts from the last two points above; if it has provided financial or other support to an unconsolidated structured entity (without having a contractual obligation to do so) in which it previously had or currently has an interest, an explanation of the type of and amount of support provided and the reasons for providing the support; any current intentions to provide financial or other support to an unconsolidated structured entity, including intentions to assist the entity in obtaining financial support; and information about sponsored unconsolidated structured entities which are not included in the disclosures above (for example, because the entity does not have an interest in the unconsolidated structured entity at the reporting date), including income from those entities and the carrying amount of assets transferred to those entities during the reporting period. The sponsoring activities should be classified into relevant categories (see paras B2 B6 of IFRS 12 for guidance). The quantitative disclosures above should be provided in tabular format, unless another format is more appropriate. Relief in the first year IFRS 12 provides relief from disclosing some information about structured entities for the comparative period in the first year of adoption. Entities do not need to disclose comparative information about the nature and extent of their interests and the nature of (and changes to) the risks of their interests in unconsolidated structured entities. 8 Supplement to the Practical Guide - Understanding the disclosure requirements in IFRS 12

9 在未合并的结构性主体中的权益 一些新的披露要求将首次运用于主体在未合并的结构性主体中拥有任何权益的情况 概括而言, 必须披露信息以使财务报表使用者能实现下列目的 : 理解主体在未合并的结构性主体中权益的性质和程度 ; 及 评估主体在未合并的结构性主体中权益涉及相关风险的性质和变化, 包括主体以前期间在未合并的结构性主体中暴露的风险, 即使在本报告期末相关合同关系已经终止 为实现上述目的, 主体应披露 : 定性定量披露其在未合并的结构性主体中权益的信息 ( 性质 目的 规模和活动, 以及结构性主体的融资安排 ); 在主体的财务报表中确认的与其在未合并的结构性主体中的权益相关的资产和负债的账面价值, 以及对应的财务报表项目 ; 主体在未合并的结构性主体中权益面临的最大损失的金额, 以及该金额的确定方法 ; 以上两项金额的比较 ; 如果主体在无合同义务的情况下向其之前或目前拥有权益的未合并的结构性主体提供财务或其他支持, 需要披露提供支持的类型和金额以及提供支持的原因 ; 任何向未合并的结构性主体提供财务或其他支持的现时意图, 包括协助结构性主体获取财务支持的意图 ; 及 以上披露中未包括的被发起的未合并的结构性主体信息 ( 例如, 在本报告日, 主体没有权益在未合并的结构性主体 ), 包括在报告期间来自这些结构性主体的收益和转移至这些结构性主体的资产的账面价值 相关的发起活动应被归入相关类别 ( 参见 IFRS 12 第 B2 B6 段中的指引 ) 应以列表方式披露以上定量信息, 除非使用另一种方式更为适当 首次执行的豁免 在首次执行时,IFRS 12 就结构性主体比较期间信息的披露给予豁免 主体无需披露其在未合并的结构性主体中权益的风险的性质和程度 ( 及其变化 ) 在比较期间的情况

10 Joint arrangements and associates The new guidance could significantly change the way that companies present and disclose information about their interests in joint arrangements and associates. The disclosures for individual joint ventures and associates are far more detailed than previously required by IAS 31, Interests in Joint Ventures, and IAS 28, Investments in Associates. Disclosure is required of certain classes of assets and liabilities of the joint venture or associate, as well as particular totals of assets and liabilities. Certain items of revenue and expenses also need to be disclosed. The disclosure requirements in IFRS 12 do not apply to parties to a joint arrangement that do not share joint control, except where such parties significantly influence the arrangement. The following information must be disclosed in relation to an entity s involvement with joint arrangements and associates: significant judgements and assumptions made (and changes to those judgements and assumptions) in determining: whether there is joint control of an arrangement; whether there is significant influence over another entity; and the type of joint arrangement (that is, joint operation or joint venture) where the arrangement is structured through a separate vehicle; the nature, extent and financial effects of an entity s interest in joint arrangements and associates, including the nature and effects of its contractual relationship with other investors with joint control of, or significant influence over, joint arrangements and associates; and the nature of, and changes in, the risks associated with its interests in joint ventures and associates. Other disclosure requirements to consider If a reporting entity has significant interests in joint operations, it should consider disclosing the interests in the assets employed and liabilities incurred in relation to these joint operations. This information will assist users in assessing the extent and financial impact of the joint operations, and it might even be required under IAS 1 if it is relevant to an understanding of the financial statements. Where an interest in a joint venture or an associate (or a portion of an interest) is classified as held for sale in accordance with IFRS 5, Non-current Assets Held for Sale and Discontinued Operations, the reporting entity does not need to disclose, for that joint venture or associate, the summarised financial information required under IFRS 12. Changes in accounting policy Additional disclosures are required when applying a new accounting standard for the first time. Where initial application has an effect on the current period or any prior period, and would have such an effect except that it is impracticable to determine the amount of the adjustment, or it might have an effect on future periods, an entity must disclose: the title of the IFRS; where applicable, that the change in accounting policy is made in accordance with its transitional provisions; the nature of the change in accounting policy; where applicable, a description of the transitional provisions; where applicable, the transitional provisions that might have an effect on future periods; 10 Supplement to the Practical Guide - Understanding the disclosure requirements in IFRS 12

11 合营安排和联营企业 新指引在很大程度上改变了主体对其在合营安排和联营企业中权益相关信息的列报和披露 针对合营企业和联营企业的披露较之前 国际会计准则第 31 号 合营中的权益 ( IAS 31 ) 和 国际会计准则第 28 号 对联营企业的投资 ( IAS 28 ) 的要求要更加详细 新指引要求披露合营企业或联营企业的资产和负债的某些类别及总额 一些收入和费用项目也需要披露 IFRS 12 中的披露要求不适用于在合营安排中不享有共同控制权的参与方, 除非该参与方对该合营安排有重大影响 主体必须就其在合营安排和联营企业中的参与披露下列信息 : 在确定下列事项时作出的重大判断和假设 ( 及对这些判断和假设的更改 ): 是否存在对安排的共同控制 ; 是否存在对另一主体的重大影响 ; 及 通过单独载体构建的合营安排类型 ( 即共同经营或合营企业 ); 主体在合营安排和联营企业中权益的性质 程度和财务影响, 包括其与其他对合营安排和联营企业具有共同控制权或重大影响的投资方之间合同关系的性质和影响 ; 及 与其在合营企业和联营企业中的权益相关风险的性质和变化 需要考虑的其他披露要求 如果报告主体在共同经营中拥有重大利益, 则其应当考虑披露其在共同经营中使用的资产和承担的负债的权益 该信息将帮助财务报表使用者评估共同经营的程度和财务影响, 如果其与对财务报表的理解相关, 甚至可能需要按照 IAS 1 的要求可披露相关信息 当主体在合营企业或联营企业中的权益 ( 或权益的一部分 ) 按照 国际财务报告准则第 5 号 持有待售的非流动资产和终止经营 的要求而被分类为持有待售时, 报告主体无需按照 IFRS 12 的要求披露对该合营企业或联营企业汇总财务信息 会计政策变更 首次执行一项新会计准则时, 须作出额外披露 如果首次执行对当前期间或以往任何期间产生了影响, 对于这一影响, 除非无法切实可行的确定调整金额, 或者可能对未来期间产生影响, 则主体须披露 : 该项国际财务报告准则 ( IFRS ) 的名称 ; 会计政策变更是按照其过渡性规定执行的 ( 如适用 ); 会计政策变更的性质 ; 对过渡性规定的描述 ( 如适用 ); 可能对未来期间产生影响的过渡性规定 ( 如适用 );

12 for the current period and the immediately preceding period presented, to the extent practicable, the amount of the adjustment for each financial statement line item affected; and, if IAS 33, Earnings per Share, applies, for basic and diluted earnings per share (disclosure of the impact on the current period is not required for the adoption of IFRS 10, because of specific relief provided); the amount of the adjustment relating to periods before those presented, to the extent practicable; and if retrospective application is impracticable, the circumstances that led to that impracticability, and a description of how and from when the change in accounting policy has been applied. Financial statements of subsequent periods need not repeat these disclosures. IAS 8, Accounting Policies, Changes in Accounting Estimates and Errors, does not prescribe any format for these disclosures. The sample disclosures below use a tabular format, but other ways of presenting this information could be equally suitable, depending on the circumstances. Additional comparative information third balance sheet and related notes If an entity has applied an accounting policy retrospectively, restated items retrospectively or reclassified items in its financial statements, it must present a third balance sheet (statement of financial position) as at the beginning of the earliest comparative period presented. However, where the retrospective change in policy or the restatement has no effect on this earliest statement of financial position, we believe that it would be sufficient for the entity to merely disclose that fact. The requirement to present comparative information for the beginning of the earliest period presented does not extend to the related notes, because the IASB has issued amendments to IAS 1 which have removed the requirement with effect from 1 January The amendments are available for early adoption. Further reading PwC s IFRS Manual of Accounting 2014 IFRSs 10 and 12 Questions and Answers A practical guide to IFRS Classification of Joint arrangements PwC Illustrative IFRS consolidated financial statements for 2013 year ends 12 Supplement to the Practical Guide - Understanding the disclosure requirements in IFRS 12

13 对于列报的当前期间和上一期间, 在切实可行的范围内对受影响的各财务报表项目的调整金额 ; 以及如果 国际会计准则第 33 号 每股收益 适用, 对基本和稀释每股收益的调整金额 ( 由于提供的特定豁免, 无需披露首次执行 IFRS 10 对当前期间的影响 ); 在切实可行的范围内, 对于所列报期间的上一期间相关财务报表项目的调整金额 ; 及 如果追溯调整并不切实可行, 披露导致该不可行性的情况, 披露何时及如何开始执行会计政策变更的描述 会计政策变更后的后续期间财务报表无需重复这些披露 国际会计准则第 8 号 会计政策 会计估计变更和差错 并未对这些披露规定任何格式 以下披露样本采用了列表方式, 但其他列报该信息的方式可能同样适当, 视具体情况而定 额外比较信息 第三张资产负债表及相关附注 如果主体已在其财务报表中追溯应用某项会计政策 追溯重述某些项目或将某些项目重分类, 则其必须列报截至所列报最早比较期间期初时的第三张资产负债表 ( 财务状况表 ) 然而, 当对会计政策变更的追溯应用或重述对这一最早的财务状况表并无影响时, 主体披露该事实情况即可 列报最早期间期初的财务状况的要求并不延伸至相关附注, 因为国际会计准则理事会已发布了对 IAS 1 的一些修改, 在修改中已删除了这一要求, 并自 2013 年 1 月 1 日起生效, 允许提前采用 进一步的读物 2014 年版的 普华永道国际财务报告准则实务指引 国际财务报告准则第 10 号及第 12 号 问题与解答 国际财务报告准则实务指南 合营安排的分类 普华永道 采用国际财务报告准则编制的 2013 年度合并财务报表示例 ( 注 : 仅有英文版 )

14 Appendix 1: Example disclosures for subsidiaries 1. Accounting policy note (b) Principles of consolidation (extracts) (i) Subsidiaries Subsidiaries are all entities (including structured entities) over which the group has control. The group controls an entity where the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases. (ii) Change in accounting policy IFRS 10, Consolidated Financial Statements, was issued in August 2011 and replaces the guidance on control and consolidation in IAS 27, Consolidated and Separate Financial Statements, and in SIC 12, Consolidation Special Purpose Entities. The group has reviewed its investments in other entities to assess whether the conclusion to consolidate is different under IFRS 10 than under IAS 27. No differences were found for any of the investments with the exception of VALUE ACCOUNTS Overseas Ltd. The group has determined that, while it did not have control over this entity under the principles of IAS 277, it now does have control over the entity under the current standard. The group acquired its 45% interest in this entity on 1 July The remaining interests in the entity are widely held and dispersed. The application of IFRS 10 resulted in the group concluding it had de facto control of the entity. As required under IFRS 10, the change in policy has been applied retrospectively and, as a consequence, adjustments were recognised in the balance sheet as of 1 July The tables below show the effect of the change in accounting policy on individual line items in each of the financial statements. Line items that were not affected by the change have not been included. As a result, the sub-totals and totals disclosed cannot be recalculated from the numbers provided. 14 Supplement to the Practical Guide - Understanding the disclosure requirements in IFRS 12

15 附录 1: 子公司披露示例 1. 会计政策附注 (b) 合并原则 ( 摘录 ) (i) 子公司 子公司是本集团拥有控制权的所有主体 ( 包括结构性主体 ) 当本集团参与主体而面临或有权享有该主体而产生的可变动报酬并有能力通过主导主体活动的权力来影响这些报酬时, 本集团控制主体 本集团自获得对子公司的控制权之日起完全合并该子公司 自丧失对子公司的控制权之日起终止合并该子公司 (ii) 会计政策变更 于 2011 年 8 月发布的 国际财务报告准则第 10 号 合并财务报表 取代了 国际会计准则第 27 号 合并财务报表和单独财务报表 和 解释公告第 12 号 合并 : 特殊目的主体 中关于控制和合并的指引 本集团已经根据 IFRS 10 的要求对其他主体的投资进行了复核, 并评估了合并结论是否与根据 IAS 27 判断的结论有所不同 除了价值账户海外有限公司之外, 本集团未发现任何其他投资的合并结论有所不同 本集团已确定虽然根据 IAS 27 的原则并不拥有对该主体的控制权, 但根据现行准则本集团拥有对该主体的控制权 本集团于 2009 年 7 月 1 日获得了该主体 45% 的权益 该主体剩余权益的持有者众多且分散 IFRS 10 的应用导致本集团得出其拥有该主体实际控制权的结论 根据 IFRS 10 的要求, 该会计政策变更已追溯应用, 因此, 相关调整在 2012 年 7 月 1 日的资产负债表中进行了确认 下表显示了会计政策变更对各期财务报表中各个报表项目的影响 未受该变更影响的报表项目未被包括在内 因此, 披露的小计数和合计数不能通过所提供的数值重新计算得出

16 The impact of this change in the entity s accounting policy on individual line items in the financial statements can be summarised as follows: Income Statement (extract) 2013 (previously stated) Prior Year Restatement Profit increase/(decrease) 2013 (restated) Revenue 84,460 3,957 88,417 Other income 2, ,610 Cost of sales (43,524) (1,284) (44,808) Distribution expenses (18,548) (297) (18,845) Marketing expenses (8,966) (150) (9,116) Administrative expense (5,877) (325) (6,202) Share of net profits of associates 170 (170) 0 Profit for the period 10,196 1,860 12,056 Profit is attributable to: Owners 10,196 1,302 11,498 Non-controlling interests ,196 1,860 12,056 Other comprehensive income for the 5, ,599 period Total comprehensive income for 15,795 1,860 17,655 the period Total comprehensive income attributable to: Owners 15,795 1,860 17,655 Non-controlling interests ,795 1,860 17,655 Basic earnings per share xx xx Diluted earnings per share xx xx Statement of Cash Flows (extract) 2013 (previously stated) Prior Year Restatement Increase/ (Decrease) 2013 (restated) Gross cash flow from operating 41,067 1,965 43,032 activities Interest paid (4,124) (149) (4,273) Net cash flows from operating 36,943 1,816 38,759 activities Cash flows from investing activities Purchase of property, plant and (18,132) (638) (18,770) equipment Acquisition of intangible assets (760) (23) (783) (18,892) (661) (19,553) Cash flow from financing activities Repayment of borrowings (25,255) (192) (25,447) Net movements in cash flows (7,204) 963 (6,241) 16 Supplement to the Practical Guide - Understanding the disclosure requirements in IFRS 12

17 该会计政策变更对财务报表中各个项目的影响可以概括如下 : 2013 / ,460 3,957 88,417 2, ,610 (43,524) (1,284) (44,808) (18,548) (297) (18,845) (8,966) (150) (9,116) (5,877) (325) (6,202) 170 (170) 0 10,196 1,860 12,056 10,196 1,302 11, ,196 1,860 12,056 5, ,599 15,795 1,860 17,655 15,795 1,860 17, ,795 1,860 17,655 xx xx xx xx 2013 / ,067 1,965 43,032 (4,124) (149) (4,273) 36,943 1,816 38,759 (18,132) (638) (18,770) (760) (23) (783) (18,892) (661) (19,553) (25,255) (192) (25,447) (7,204) 963 (6,241)

18 Balance Sheet (extract) 30 June 2013 (previously stated) Increase / (Decrease) Prior Years Restatement 30 June 2013 (restated) 1 July 2012 (previously stated) Increase / (Decrease) 1 July 2012 (restated) Current Assets Cash 24,473 1,000 25,473 17, ,904 Trade receivables 12, ,149 8, ,163 Inventories 16, ,842 13, ,783 Non-current assets Property, plant and 100,830 34, ,720 88,835 29, ,589 equipment Associate 4,956 (4,401) 555 3,754 (2,541) 1,213 Intangible assets 22, ,190 22, ,079 Total assets 182,560 33, , ,047 29, ,731 Current liabilities Trade and other payables 12, ,325 13, ,545 Non-current liabilities Borrowings 62,575 19,786 82,361 59,400 20,172 79,572 Total liabilities 75,402 20,284 95,686 72,580 20,537 93,117 Net assets 107,158 13, ,243 82,467 9,147 91,614 Equity attributable to: Parent 107,158 9, ,318 82,467 6,403 88,870 Non-controlling interests 0 3,926 3, ,744 2, ,158 13, ,243 82,467 9,147 91,614 Please note that the disclosures and financial impacts are purely for illustrative purposes and are not necessarily consistent with the numbers in the statement of comprehensive income. 18 Supplement to the Practical Guide - Understanding the disclosure requirements in IFRS 12

19 / / ,473 1,000 25,473 17, ,904 12, ,149 8, ,163 16, ,842 13, , ,830 34, ,720 88,835 29, ,589 4,956 (4,401) 555 3,754 (2,541) 1,213 22, ,190 22, , ,560 33, , ,047 29, ,731 12, ,325 13, ,545 62,575 19,786 82,361 59,400 20,172 79,572 75,402 20,284 95,686 72,580 20,537 93, ,158 13, ,243 82,467 9,147 91, ,158 9, ,318 82,467 6,403 88, ,926 3, ,744 2, ,158 13, ,243 82,467 9,147 91,

20 2. Critical accounting estimates and judgements (extracts) (b) Critical judgements in applying the entity s accounting policies (extracts) (i) Consolidation of entities in which the group holds less than 50% The directors have concluded that the group controls Value Accounts Overseas Ltd, even though it holds less than half of the voting rights of this subsidiary. This is because the group is the largest shareholder with a 45% equity interest, while the remaining shares are held by eight investors. An agreement signed between the shareholders and Value Accounts Overseas Ltd grants Value Accounts Holdings Ltd the right to appoint, remove and set the remuneration of management responsible for directing the relevant activities. A 67% majority vote is required to change this agreement, which cannot be achieved without the group s consent as the group holds 45% of the voting rights. (ii) Non-consolidation of entities in which the group holds more than 50% The directors have also determined that they do not control a company called Value Accounts Trustee Pty Ltd even though Value Accounts Holdings Ltd owns 100% of the issued capital of this entity. Value Accounts Trustee Pty Ltd is the trustee of the Value Accounts Employees Superannuation Fund. It is not a controlled entity of Value Accounts Holdings Ltd, because Value Accounts Holdings Ltd is not exposed, and has no right, to variable returns from this entity and is not able to use its power over the entity to affect those returns. Note 42 Subsidiaries and transactions with noncontrolling interests (extract) (a) Interest in subsidiaries Set out below are the group s principal subsidiaries at 30 June Unless otherwise stated, the subsidiaries have share capital consisting solely of ordinary shares, which are held directly by the group, and the proportion of ownership interests held equals the voting rights held by the group. The country of incorporation or registration is also their principal place of business. Name of entity Value Accounts Retail Ltd Value Accounts Manufacturing Ltd Value Accounts Electronics Pty Ltd Value Accounts Overseas Ltd Value Accounts Consulting Ltd Value Accounts Development Ltd Place of business / Country of incorporation % of ownership interest held by the group % of ownership interest held by the non-controlling interests (NCI) Principal activities Australia Furniture retail stores Australia Furniture manufacture Australia Electronic equipment manufacture Indonesia Furniture manufacture Australia IT consulting Australia Development of residential land 20 Supplement to the Practical Guide - Understanding the disclosure requirements in IFRS 12

21 2. 重要会计估计和判断 ( 摘录 ) (b) 应用会计政策时的重要判断 ( 摘录 ) (i) 合并持有不足 50% 所有者权益主体的情况 董事已得出本集团控制价值账户海外有限公司的结论, 尽管本集团持有该子公司不足 50% 的表决权 这是因为本集团是拥有该公司 45% 所有者权益的最大股东, 而剩余股份由八个不同投资方持有 价值账户海外有限公司与其股东之间签署的一项协议, 授予价值账户海外有限公司任免负责主导该公司相关活动的管理人员以及为这些人员制定薪酬的权利 更改这一协议需要 67% 的表决权 由于本集团持有该公司 45% 的表决权, 在未经本集团同意的情况下该协议无法被修改 (ii) 不合并持有超过 50% 所有者权益主体的情况 董事同时确定本集团不控制一家名为价值账户信托私人有限公司, 尽管价值账户海外有限公司拥有该私人有限公司 100% 已发行股本 该私人有限公司是价值账户海外有限公司职工退休基金的受托人, 并非一个受价值账户海外有限公司控制的主体, 因为其并不面临也无权享有该主体的可变动报酬, 也无能力通过其对该主体的权力来影响这些报酬 附注 42 子公司以及与非控制性权益的交易 ( 摘录 ) (a) 在子公司中的权益 2014 年 6 月 30 日本集团的主要子公司列示如下 除非另行说明, 子公司的股本仅由普通股组成, 由本集团直接持有, 且本集团持有的所有权权益比例等于表决权比例 设立或注册地所属的国家也是其主要业务经营地 / % %

22 (b) Significant restrictions Cash and short-term deposits held in Asian countries (including Indonesia) are subject to local exchange control regulations. These regulations provide for restrictions on exporting capital from those countries, other than through normal dividends. (c) Non-controlling interests Set out below is summarised financial information for each subsidiary that has non-controlling interests (NCI) that are material to the group. The amounts disclosed for each subsidiary are before inter-company eliminations. The carrying amount of the assets included within the consolidated financial statements to which these restrictions apply is CU650,000 (2013 CU410,000). Summarised balance sheet Value Accounts Manufacturing Ltd 30 June June 2012 Value Accounts Overseas Ltd 30 June June 2012 Value Accounts Electronics Ltd 30 June June 2012 CU000 CU000 CU000 CU000 CU000 CU000 Current assets 13,870 13,250 11,500 9,800 7,825 - Current liabilities 12,570 7,595 10,570 8,300 1,200 - Current net assets 1,300 5, ,500 6,675 Non-current assets 28,010 22,910 15,570 12,730 18,900 - Non-current liabilities 5,800 3,400 12,735 10,748 10,100 - Non-current net assets 22,210 19,510 2,835 1,982 8,800 - Net assets 23,510 25,164 3,765 3,482 15,475 - Accumulated NCI 2,751 3,775 2,071 1,914 4,641 - Value Accounts Manufacturing Ltd Value Accounts Overseas Ltd Value Accounts Electronics Ltd Summarised statement of comprehensive income CU000 CU000 CU000 CU000 CU000 CU000 Revenue 30,200 27,800 14,100 14,450 3,850 - Profit for the period 10,745 7,900 2,412 2,062 1,405 - Other comprehensive 1, (447) income Total comprehensive 12,010 8,730 1,965 2,305 1,405 - income Profit/(loss) allocated to 1,257 1,185 1,327 1, NCI Dividends paid to NCI 1, Value Accounts Manufacturing Ltd Value Accounts Overseas Ltd Value Accounts Electronics Ltd Summarised cash flows CU000 CU000 CU000 CU000 CU000 CU000 Cash flows from 2,989 2,780 1,203 1, operating activities Cash flows from (1,760) (1,563) (584) (859) (870) - investing activities Cash flows from 390 (950) (235) - financing activities Net increase/ (decrease) in cash and cash equivalents 1, (125) - 22 Supplement to the Practical Guide - Understanding the disclosure requirements in IFRS 12

23 (b) 重大限制 在亚洲国家 ( 包括印度尼西亚 ) 持有的现金和短期存款受到当地外汇管制规定的限制 外汇管制规定对除正常分配股利之外的其他方式从这些国家输出资本做出了限制 (c) 非控制性权益 下表列示了对本集团而言拥有重大的非控制性权益的各子公司的汇总财务信息 披露的是公司间内部往来抵销前的金额 本合并财务报表中受到限制资产的账面价值为 650,000 元 ( 2013 年 410,000 元 ) ,870 13,250 11,500 9,800 7,825-12,570 7,595 10,570 8,300 1,200-1,300 5, ,500 6,675 28,010 22,910 15,570 12,730 18,900-5,800 3,400 12,735 10,748 10,100-22,210 19,510 2,835 1,982 8,800-23,510 25,164 3,765 3,482 15,475-2,751 3,775 2,071 1,914 4, ,200 27,800 14,100 14,450 3,850-10,745 7,900 2,412 2,062 1,405-1, (447) ,010 8,730 1,965 2,305 1,405-1,257 1,185 1,327 1, , ,989 2,780 1,203 1, (1,760) (1,563) (584) (859) (870) - ( ) / 390 (950) (235) - 1, (125)

24 (d) Transactions with non-controlling interests On 21 April 2014, VALUE ACCOUNTS Holdings Ltd acquired an additional 3.35% of the issued shares of VALUE ACCOUNTS Manufacturing Ltd for a purchase consideration of CU500,000. The carrying amount of the non-controlling interests in VALUE ACCOUNTS Manufacturing Ltd on the date of the transaction was CU1,300,000. The group recognised a decrease in noncontrolling interests of CU290,000, and a decrease in equity attributable to owners of the parent of CU210,000. The effect of changes in the ownership interest of VALUE ACCOUNTS Manufacturing Ltd on the equity attributable to the owners of VALUE ACCOUNTS Holdings Ltd during the year is summarised as follows: 2013 CU CU000 Carrying amount of non-controlling interests acquired 1,167 - Consideration paid to non-controlling interests (1,500) - Excess of consideration paid recognised in the transactions with non-controlling interests reserve within equity (333) - There were no transactions with non-controlling interests in Supplement to the Practical Guide - Understanding the disclosure requirements in IFRS 12

25 (d) 与非控制性权益的交易 2014 年 4 月 21 日, 价值账户控股有限公司以 500,000 元的对价购买了价值账户生产有限公司已发行股份的 3.35% 股权 在本交易日价值账户生产有限公司的非控制性权益的账面价值为 1,300,000 元 本集团确认了非控制性权益的减少额 290,000 元, 以及归属于母公司所有者权益的增加额 210,000 元 本年度价值账户生产有限公司所有权权益的变化对归属于价值账户控股有限公司所有者的权益的影响被概括如下 : ,167 - (1,500) - (333) 年本集团并不存在与非控制性权益的交易

26 Appendix 2: Example disclosures for unconsolidated structured entities Notes Summary of accounting policies (extracts) Standards effective for annual periods beginning on or after 1 January 2013 and which have been adopted by the Fund. IFRS 12, Disclosure of Interests in other Entities : the standard requires entities to disclose significant judgements and assumptions made in determining whether the entity controls, jointly controls, significantly influences or has some other interests in other entities. Entities are also required to provide more disclosures around certain structured entities. Adoption of the standard has impacted the Fund s level of disclosures in certain of the above-noted areas, but has not impacted the Fund s financial position or results of operations. IFRS 10, Consolidated Financial Statements, IFRS 11, Joint Arrangements, IAS 27 (revised 2011), Separate Financial Statements, IAS 28 (revised 2011), Associates and Joint Ventures and the Transition Guidance (Amendments to IFRS 10, IFRS 11 and IFRS 12) have also been early adopted, as required by IFRS 12; however, these standards and amendments have had no significant impact on the Fund. Structured entities A structured entity is an entity that has been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity, such as when any voting rights relate to administrative tasks only, and the relevant activities are directed by means of contractual arrangements. A structured entity often has some or all of the following features or attributes: (a) restricted activities; (b) a narrow and well-defined objective, such as to provide investment opportunities for investors by passing on risks and rewards associated with the assets of the structured entity to investors; (c) insufficient equity to permit the structured entity to finance its activities without subordinated financial support; and (d) financing in the form of multiple contractually linked instruments to investors that create concentrations of credit or other risks (tranches). The Fund has determined that all of its investments in other funds ( Investee Funds ) are investments in unconsolidated structured entities. The Fund invests in Investee Funds whose objectives range from achieving medium- to long-term capital growth and whose investment strategy does not include the use of leverage. The Investee Funds are managed by unrelated asset managers and apply various investment strategies to accomplish their respective investment objectives. The Investee Funds finance their operations by issuing redeemable shares which are puttable at the holder s option and entitle the holder to a proportional stake in the respective fund s net assets. The Fund holds redeemable shares in each of its Investee Funds. The change in fair value of each Investee Fund is included in the statement of comprehensive income in Net gains/(losses) on financial instruments held at fair value through profit or loss. Commentary sponsored structural entities For the purpose of this example disclosure, it is assumed that the Fund has not sponsored any structured entities; if the Fund had sponsored a structured entity, it would need to make the additional disclosures required by paragraph 27 of IFRS Supplement to the Practical Guide - Understanding the disclosure requirements in IFRS 12

27 附录 2: 未合并的结构性主体披露示例 附注 会计政策概要 ( 摘录 ) 对起始日在 2013 年 1 月 1 日或之后的年度期间生效且已被本基金采用的准则 国际财务报告准则第 12 号 对其他主体中权益的披露 : 该准则要求主体披露在确定主体是否控制或共同控制其他主体 对其他主体产生重大影响还是在其他主体中拥有一些其他权益时所作的重大判断和假设 主体还被要求提供更多关于某些 结构性主体 的披露信息 该准则的采用会影响到本基金在以上所述领域的披露程度, 但并未对本基金的财务状况或经营成果造成影响 国际财务报告准则第 10 号 合并财务报表 国际财务报告准则第 11 号 合营安排 国际会计准则第 27 号 单独财务报表 ( 2011 年修订版 ) 国际会计准则第 28 号 联营企业和合营企业 (2011 年修订版 ) 和 过渡指引 ( 对国际财务报告准则第 10 号 第 11 号和第 12 号的修改 ) 也已根据 IFRS 12 的要求被提前采用 ; 然而, 这些准则和修改并未对本基金产生重大影响 结构性主体 结构性主体是指被设计成表决权或类似权利并不是决定控制的决定性因素的主体, 例如表决权仅与日常行政管理工作相关, 相关活动通过合同安排来主导 结构性主体通常具有下列部分或全部特征或特性 :(a) 受到限制的活动 ; (b) 狭窄且定义明确的目标, 例如通过将与结构性主体资产相关的风险与报酬转移至投资方来为投资方提供投资机会 ;(c) 权益不足以使结构性主体能够在未获得次级财务支持的情况下为其活动提供融资 ; 及 (d) 以发行基于多项合同相关联的工具的形式向投资方融资, 从而 ( 或分批次 ) 造成信用或其他风险的集中 本基金已确定对其他基金 ( 被投资基金 ) 的所有投资均属于对未合并的结构性主体的投资 本基金所投资的被投资基金的经营目标是实现资本的中长期增值, 且投资策略不包括杠杆的使用 被投资基金由无关联关系的资产管理者管理, 并应用不同的投资策略来实现各自的投资目标 被投资基金通过发行持有者享有卖出期权的可赎回股份来为其经营融资, 且持有者按投资份额对各基金净资产享有权益 本基金对其被投资基金的投资均为可赎回股份 被投资基金的公允价值变动记入综合收益表的项目为 以公允价值计量且其变动计入损益的金融工具的净利得 /( 损失 ) 注 发起的结构性主体 出于本披露示例的目的, 假设本基金未发起任何结构性主体 ; 如果本基金已发起一个结构性主体, 则需按照 IFRS 12 第 27 段的要求进行额外披露

28 Notes financial risk management (extracts) The Fund s investments in Investee Funds are subject to the terms and conditions of the respective Investee Fund s offering documentation and are susceptible to market price risk arising from uncertainties about future values of those Investee Funds. The investment manager makes investment decisions after extensive due diligence of the underlying fund, its strategy and the overall quality of the underlying fund s manager. All of the Investee Funds in the investment portfolio are managed by portfolio managers who are compensated by the respective Investee Funds for their services. Such compensation generally consists of an assetbased fee and a performance-based incentive fee and is reflected in the valuation of the Fund s investment in each of the Investee Funds. The right of the Fund to request redemption of its investments in Investee Funds ranges in frequency from weekly to semi-annually. The exposure to investments in Investee Funds at fair value, by strategy employed, is disclosed in the following table. These investments are included in financial assets at fair value through profit or loss in the statement of financial position. Strategy Number of Investee Funds Net asset value of Investee Fund (range and weighted average) CUmillion Fair value of Fund s assets of investment CU000* % of net assets attributable to holders of redeemable shares** Equity long / short / (45) 55, Event driven / (82) 41, Directional trading / (175) 9, Multi-strategy / (41) 5, Fund of Funds / (23) 5, Relative value / (66) 1, ,520 *The fair value of financial assets (CU119,520) is included in financial assets at fair value through profit or loss in the statement of financial position **This represents the entity s percentage interest in the total net assets of the Investee Funds Commentary paragraph 26 of IFRS 12 and comparative disclosure IFRS 12 requires disclosure of qualitative and quantitative information about an entity s interests in unconsolidated structured entities, including, but not limited to, the nature, purpose, size and activities of the structured entity and how the structured entity is financed. Paragraph C2B of IFRS12 states that the disclosure requirements of paragraphs and the corresponding guidance in paragraphs B21 B26 of this IFRS need not be applied for any period presented that begins before the first annual period for which IFRS 12 is applied. As such, no comparative disclosure has been included above. 28 Supplement to the Practical Guide - Understanding the disclosure requirements in IFRS 12

29 附注 财务风险管理 ( 摘录 ) 本基金根据各被投资基金发行文件的条款和条件对被投资基金进行投资, 这些被投资基金未来价值的不确定性会使本基金承受市场价格变动风险 投资经理在对标的基金 投资策略及基金经理的整体素质进行广泛的尽职调查后作出投资决策 投资组合经理负责管理投资组合中投资的所有被投资基金, 各被投资基金接受相关服务而支付给投资组合经理报酬 该 报酬一般由基于资产规模的管理费和基于绩效的激励费组成, 并反映在本基金对各被投资基金的投资的估值中 本基金有权要求赎回其对被投资基金的投资, 赎回频率从每周一次到每半年一次不等 根据所运用的策略, 以公允价值计量的对被投资基金投资的风险敞口披露于下表 这些投资记入财务状况表中以公允价值计量且其变动计入损益的金融资产 * %** / / (45) 55, / (82) 41, / (175) 9, / (41) 5, / (23) 5, / (66) 1, ,520 * 119,520 ** 注 IFRS 12 第 26 段和比较信息披露 IFRS 12 要求定性及定量披露关于主体在未合并结构性主体中权益信息, 包括但不限于该结构性主体的性质 目的 规模和活动以及该结构性主体融资安排 IFRS 12 第 C2B 段规定 本财务报告准则第 段的披露要求和第 B21 B26 段中的相应指南不适用于所列报的任何起始日在首次执行 IFRS 12 年度之前的期间 因此上文不披露任何比较期间相关信息

30 The Fund s maximum exposure to loss from its interests in Investee Funds is equal to the total fair value of its investments in Investee Funds. Once the Fund has disposed of its shares in an Investee Fund, it ceases to be exposed to any risk from that Investee Fund. The Fund s investment strategy entails trading in other funds on a regular basis. Total purchases in Investee Funds during the year ended 30 June 2014 was CU35,345,000. The Fund intends to continue opportunistic trading in other funds. As at 30 June 2014 and 30 June 2013, there were no capital commitment obligations and no amounts due to Investee Funds for unsettled purchases. During the year ended 30 June 2014, total net losses incurred on investments in Investee Funds were CU17,381,000. Commentary IFRS 7 The disclosure requirements of IFRS 7 and IFRS 12 might overlap to some extent. However, the intention is that both standards complement each other. [IFRS 12 paras BC72 BC74]. Therefore, in situations where a fund invests in other funds, which fall within the definition of a structured entity, additional disclosures requirements will result from the application of IFRS Supplement to the Practical Guide - Understanding the disclosure requirements in IFRS 12

31 本基金在被投资基金中的权益所面临的最大风险敞口等于其对被投资基金投资的公允价值总额 一旦本基金处置了在被投资基金中的投资, 则不再面临任何来自该被投资基金的风险 本基金的投资策略需要定期对其他基金进行交易 截至 2014 年 6 月 30 日止的年度期间购买 被投资基金总额为 35,345,000 元 本基金计划继续对其他基金进行投机交易 于 2014 年 6 月 30 日和 2013 年 6 月 30 日本基金不存在资本承诺义务, 也不存在应支付给被投资基金的未结算金额 截至 2014 年 6 月 30 日止的年度期间, 对被投资基金投资的净损失总额为 17,381,000 元 注 国际财务报告准则第 7 号 ( IFRS 7 ) 在某种程度上 IFRS 7 和 IFRS 12 的披露要求可能重复 然而其意图在于使两项准则互为补充 [IFRS 12 BC 第 段 ] 因此, 在基金对定义为结构性主体的其他基金进行投资的情况下,IFRS 12 的应用将导致额外的披露要求

32 Appendix 3: Illustration of disclosures for interests in joint arrangements and associates Illustrated below are some of the key disclosure requirements for the example scenario presented. Please note:, this is not a complete listing these are example extracts only. Background information and assumptions In compiling this illustrative example, we have made the following assumptions: All joint arrangements and associates have the same financial year end as the reporting entity. None of the joint arrangements or associates are measured at fair value. None of the entity s investments in the joint arrangements or associates are impaired. There are no unrecognised losses in relation to any equity accounted investments. There are no changes to the facts and circumstances during the period that would lead to a change in classification of the joint arrangements or associates. The reporting entity has three material arrangements for disclosure: Kangaroo Pty Ltd (associate); Koala Pty Ltd (joint venture); and Crocodile Venture Agreement (joint operation). The reporting entity also has interests in five individually immaterial associates that are accounted for using the equity method. 1. Accounting policy note disclosure (a) Associates Associates are all entities over which the group has significant influence but not control or joint control, generally accompanying a shareholding of between 20% and 50% of the voting rights. Investments in associates are accounted for using the equity method of accounting, after initially being recognised at cost. The group s investment in associates includes goodwill identified on acquisition. The group s share of its associates postacquisition profits or losses is recognised in profit or loss, and its share of post-acquisition other comprehensive income is recognised in other comprehensive income. The cumulative post-acquisition movements are adjusted against the carrying amount of the investment. Dividends receivable from associates are recognised as a reduction in the carrying amount of the investment. Where the group s share of losses in an associate equals or exceeds its interest in the associate, including any other unsecured longterm receivables, the group does not recognise further losses, unless it has incurred obligations or made payments on behalf of the associate. Unrealised gains on transactions between the group and its associates are eliminated to the extent of the group s interest in the associates. Unrealised losses are also eliminated, unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been changed, where necessary, to ensure consistency with the policies adopted by the group. IAS 28 paras 28, Supplement to the Practical Guide - Understanding the disclosure requirements in IFRS 12

33 附录 3: 对在合营安排和联营企业中的权益披露的说明 针对示例情况, 以下仅列示了的部分关键披露要求 请注意 : 这不是一份完整的披露清单, 只是示例的摘录 背景信息和假设 在编写这一说明性示例时, 我们做出了下列假设 : 所有合营安排和联营企业的财务年度均与报告主体相同 对合营安排和联营企业的投资均不以公允价值计量 主体对合营安排或联营企业的投资均未减值 不存在任何与以权益法核算的投资相关的未确认损失 本期没有发生任何将导致合营安排或联营企业分类发生变化的事实和情况 报告主体有三项需要披露的重要安排 : 袋鼠私人有限公司 ( 联营企业 ); 考拉私人有限公司 ( 合营企业 ); 和鳄鱼合营协议 ( 共同经营 ) 报告主体还拥有在五个单独而言不重要的以权益法核算的联营企业中的权益 1. 会计政策摘要的披露 (a) 联营企业 联营企业是本集团具有重大影响但并不控制或共同控制, 一般附带有 20% 至 50% 表决权的股份 对联营企业的投资在以成本进行初始确认后以权益法核算 本集团对联营企业的投资包括收购时已辨认的商誉 本集团应占联营企业购买后损益的份额在损益表中确认, 而应占购买后其他综合收益的份额在其他综合收益中确认, 并相应调整投资的账面价值 应向联营企业收取的股利于确认时减少投资的账面价值 当集团在联营企业亏损中的份额等于或超出其在联营企业中的权益 ( 包括任何其他无担保的长期应收款 ) 时, 本集团不确认进一步亏损, 除非其已对联营企业产生义务或已代联营企业付款 本集团与其联营企业之间交易的未实现利得以本集团在联营企业中的权益为限进行抵销 未实现损失也被抵销, 除非该交易提供证据证明所转移资产已发生减值 联营企业的会计政策已按需要做出改变, 以确保与本集团所采用会计政策一致 IAS 28 第 段

34 (b) Joint arrangements Under IFRS 11, Joint Arrangements, investments in joint arrangements are classified as either joint operations or joint ventures, depending on the contractual rights and obligations that each investor has, rather than the legal structure of the joint arrangement. The entity has assessed the nature of its joint arrangements and determined that it has both joint operations and joint ventures. (i) Joint operations IFRS 11 para 14 The entity recognises its direct rights to the (and its share of) jointly held assets, liabilities, revenues and expenses of joint operations. These have been incorporated in the financial statements under the appropriate headings. (ii) Joint ventures IFRS 11 para 20 Interests in joint ventures are accounted for using the equity method. Under this method, the interests are initially recognised in the consolidated balance sheet at cost and adjusted thereafter to recognise the group s share of the post-acquisition profits or losses, and movements in other comprehensive income, in profit or loss and other comprehensive income respectively. Where the group s share of losses in a joint venture equals or exceeds its interests in the joint ventures (which include any long-term interests that, in substance, form part of the group s net investment in the joint ventures), the group does not recognise further losses, unless it has incurred obligations or made payments on behalf of the joint ventures. Unrealised gains on transactions between the group and its joint ventures are eliminated to the extent of the group s interest in the joint ventures. Unrealised losses are also eliminated, unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of the joint ventures have been changed where necessary, to ensure consistency with the policies adopted by the group. IFRS 11 para Critical accounting estimates and significant judgements note disclosures IAS 1 para 122 Classification of joint arrangements The entity s joint venture, Koala Ltd, is structured in a separate incorporated company. The reporting entity holds 50% of the interest in the arrangement and, under the joint arrangement agreement, unanimous consent is required from all parties to the agreement for all relevant activities. The reporting entity and the parties to the agreement only have rights to the net assets of the company through the terms of the contractual arrangement. Other facts and circumstances, however, have also been considered to determine the classification of this arrangement. The parties to the arrangement take 60% of the output produced by the venture, with the remaining 40% being sold to third party customers. The level of output taken by the parties to the joint arrangement is not considered substantial to indicate that the arrangement has been set up primarily for the provision of output to the parties and that they have direct rights to substantially all of the economic benefits of the arrangement. Similarly, the parties are not considered to be substantially the only source of cash flows contributing to the continuity of the arrangement, indicating that the parties do not have a direct obligation for the liabilities relating to the arrangement. This arrangement is therefore classified as a joint venture of the reporting entity. IFRS 12 para 7 34 Supplement to the Practical Guide - Understanding the disclosure requirements in IFRS 12