Annual Report 2019

HOP FUNG GROUP HOLDINGS LIMITED 合豐集團控股有限公司 84 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 綜合財務報表附註 FOR THE YEAR ENDED 31ST DECEMBER, 2019 截至二零一九年十二月三十一日止年度 2. 應用新訂及經修訂香港財務報告準則 （「香港財務報告準則」） （續） 二零一八年財務報告概念框架（「新框架」）及 提述香港財務報告準則概念框架的修訂 新框架： • 重新引入管理及審慎此等術語； • 引入著重權利的新資產定義以及範圍可 能比所取代定義更廣的新負債定義，惟 不會改變負債與權益工具之間的區別； • 討論歷史成本及現值計量，並就如何為 某一資產或負債選擇計量基準提供額外 指引； • 指出財務表現主要計量標準為損益，且 於特殊情況下方會使用其他全面收益， 且僅用於資產或負債現值產生變動的收 入或開支；及 • 討論不確定因素、終止確認、會計單位、 報告實體及合併財務報表。 已作出相應修訂，致使有關若干香港財務報告 準則中的提述已更新至符合新框架，惟部分香 港財務報告準則仍參考該框架的先前版本。該 等修訂於本集團二零二零年一月一日或之後開 始的年度期間生效。除仍參考該框架先前版本 的特定準則外，本集團將於其生效日期按新框 架決定會計政策，尤其是會計準則未有處理的 交易、事件或條件。 2. APPLICATION OF NEW AND AMENDMENTS TO HONG KONG FINANCIAL REPORTING STANDARDS (“HKFRSs”) (Continued) Conceptual Framework for Financial Reporting 2018 (the “New Framework”) and the Amendments to References to the Conceptual Framework in HKFRS Standards The New Framework: • reintroduces the terms stewardship and prudence; • introduces a new asset definition that focuses on rights and a new liability definition that is likely to be broader than the definition it replaces, but does not change the distinction between a liability and an equity instrument; • discusses historical cost and current value measures, and provides additional guidance on how to select a measurement basis for a particular asset or liability; • states that the primary measure of financial performance is profit or loss, and that only in exceptional circumstances other comprehensive income will be used and only for income or expenses that arise from a change in the current value of an asset or liability; and • discusses uncertainty, derecognition, unit of account, the reporting entity and combined financial statements. Consequential amendments have been made so that references in certain HKFRSs have been updated to the New Framework, whilst some HKFRSs are still referred to the previous versions of the framework. These amendments are effective for the Group for annual period beginning on or after 1st January, 2020. Other than specific standards which still refer to the previous versions of the framework, the Group will rely on the New Framework on its effective date in determining the accounting policies especially for transactions, events or conditions that are not otherwise dealt with under the accounting standards.