Annual Report 2021

合豐集團控股有限公司 • 二零二一年年報 99 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) 綜合財務報表附註（續） FOR THE YEAR ENDED 31ST DECEMBER, 2021 截至二零二一年十二月三十一日止年度 3. 綜合財務報表編製基準及主 要會計政策 （續） 3.2 主要會計政策 （續） 存貨 存貨以成本及可變現淨值之較低 者列賬。存貨成本採用先進先出 法計算。可變現淨值指存貨之估 計售價減完成之全部估計成本及 作出銷售所需之成本。銷售所需 成本包括直接歸屬於銷售的增量 成本及本集團進行銷售所必須產 生的非增量成本。 金融工具 當某集團實體成為工具合約條文 之訂約方時，財務資產及財務負 債便會在被確認。所有常規方式 買賣的財務資產概於交易日予以 確認及取消確認。常規方式買賣 乃指遵循法規或市場慣例在約定 時間內交付資產的財務資產買賣。 財務資產及財務負債按公平值初 步計量，惟客戶合約產生的貿易 應收款項除外，該等貿易應收款 項根據香港財務報告準則第 15 號 進行初始計量。首次確認時，收 購或發行其後按攤銷成本計量之 財務資產及財務負債產生之直接 交易成本將視乎情況加入或扣除 財務資產或財務負債之公平值。 3. BASIS OF PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS AND SIGNIFICANT ACCOUNTING POLICIES (Continued) 3.2 Significant accounting policies (Continued) Inventories Inventories are stated at the lower of cost and net realisable value. Cost of inventories are determined on a first-in, first-out method. Net realisable value represents the estimated selling price for inventories less all estimated costs of completion and costs necessary to make the sale. Costs necessary to make the sale include incremental costs directly attributable to the sale and non-incremental costs which the Group must incur to make the sale. Financial instruments Financial assets and financial liabilities are recognised when a group entity becomes a party to the contractual provisions of the instrument. All regular way purchases or sales of financial assets are recognised and derecognised on a trade date basis. Regular way purchases or sales are purchases or sales of financial assets that require delivery of assets within the time frame established by regulation or convention in the market place. Financial assets and financial liabilities are initially measured at fair value except for trade receivables arising from contracts with customer which are initially measured in accordance with HKFRS 15. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities measured subsequently at amortised cost are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition.