香港中小企业会计框架和准则(PDF 73)英文版

SME-FRF&SME-FRSIssuedAugust2005EffectiveforaQualifyingEntity’sfinancialstatementsthatcoveraperiodbeginningonorafter1January2005SmallandMedium-sizedEntityFinancialReportingFrameworkandFinancialReportingStandardSMALLANDMEDIUM-SIZEDENTITYFINANCIALREPORTINGFRAMEWORKANDFINANCIALREPORTINGSTANDARDContentsPagesSMALLANDMEDIUM-SIZEDENTITYFINANCIALREPORTINGFRAMEWORKScope1Users1Objective1UnderlyingAssumptions1QualitativeCharacteristics1Elements2Recognition2Measurement2QualifyingEntities3-4PublicAccountability3Size4TransitionalProvisions4EffectiveDate4SMALLANDMEDIUM-SIZEDENTITYFINANCIALREPORTINGSTANDARDDefinitions5-11Section1PresentationofFinancialStatements12-17Section2AccountingPolicies,ChangesinAccountingEstimatesandErrors18-19Section3Property,PlantandEquipment20-22Section4IntangibleAssets23-26Section5Leases27-28Section6Investments29-30Section7Inventories31Section8ConstructionContracts32-34Section9ImpairmentofAssets35-36Section10Provisions,ContingentLiabilitiesandContingentAssets37-39Section11Revenue40-41Section12GovernmentGrantsandOtherGovernmentAssistance42-43Section13BorrowingCosts44-45Section14IncomeTaxes46Section15TheEffectsofChangesinForeignExchangeRates47-48Section16RelatedPartyDisclosures49-50Section17EventsAftertheBalanceSheetDate51-52TransitionalProvisions53EffectiveDate53Appendix1ExamplesofApplication54-61Appendix2IllustrativeFinancialStatementsPreparedinAccordancewiththeSME-FRS62-70iSMALLANDMEDIUM-SIZEDENTITYFINANCIALREPORTINGFRAMEWORKANDFINANCIALREPORTINGSTANDARDTheSmallandMedium-sizedEntityFinancialReportingFramework(SME-FRF)andFinancialReportingStandard(SME-FRS)arestandardsofaccountingpracticesissuedbytheCounciloftheHongKongInstituteofCertifiedPublicAccountantspursuanttosection18AoftheProfessionalAccountantsOrdinance.SME-FRFandSME-FRSshouldbereadinthecontextofthePrefacetoHongKongFinancialReportingStandards.SME-FRSshouldalsobereadinthecontextoftheSME-FRF.iiCopyright©2005HongKongInstituteofCertifiedPublicAccountants.SMALLANDMEDIUM-SIZEDENTITYFINANCIALREPORTINGFRAMEWORKSMALLANDMEDIUM-SIZEDENTITYFINANCIALREPORTINGFRAMEWORKScope1.TheSmallandMedium-sizedEntityFinancialReportingFramework(SME-FRF)setsouttheconceptualbasis(paragraphs2-15)andqualifyingcriteria(paragraphs16-26)forthepreparationoffinancialstatementsinaccordancewiththeSmallandMedium-sizedEntityFinancialReportingStandard(SME-FRS).Users2.Usersoffinancialstatementsgenerallyincludepresentandpotentialinvestors,employees,lenders,suppliersandothertradecreditors,customers,governmentsandtheiragenciesand,insomecases,thepublic.ForSMEs,themostsignificantusersarelikelytobeowners,governmentandcreditors,whomayhavethepowertoobtaininformationadditionaltothatcontainedinthefinancialstatements.Managementisalsointerestedintheinformationcontainedinthefinancialstatements,eventhoughithasaccesstoadditionalmanagementandfinancialinformation.Objective3.Theobjectiveoffinancialstatementsistoprovideinformationaboutthefinancialpositionandperformanceofanentitythatisusefultousersofsuchinformation.Financialstatementsshowtheresultsofmanagement’sstewardshipofandaccountabilityfortheresourcesentrustedtoit.UnderlyingAssumptions4.Financialstatementsarepreparedontheaccrualbasisofaccounting.Theyarenormallypreparedontheassumptionthatanentityisagoingconcernandwillcontinuetooperateforatleasttheforeseeablefuture.QualitativeCharacteristics5.Qualitativecharacteristicsaretheattributesthatmaketheinformationprovidedinfinancialstatementsusefultousers.Thefourprincipalcharacteristicsare:(a)Understandability:Itisessentialthatinformationprovidedinfinancialstatementsisreadilyunderstandablebyusers.(b)Relevance:Tobeuseful,informationmustberelevanttotheneedsofusers.Therelevanceofinformationisaffectedbyitsnatureandmateriality.(c)Reliability:Informationisreliablewhenitisfreefrommaterialerrorandbiasandcanbedependedonbyuserstorepresentfaithfullythatwhichitissaidtorepresent.Inassessingreliability,substanceoverform,prudence,neutralityandcompletenessarealsoconsidered.(d)Comparability:Usersmustbeabletocomparethefinancialstatementsofanentityovertimeinordertoidentifytrendsintheentity’sfinancialpositionandperformance.6.Constraints:Thebalancebetweenbenefitandcostisapervasiveconstraintratherthanaqualitativecharacteristic.Thebenefitsderivedfrominformationshouldexceedthecostofprovidingit.Theevaluationofbenefitsandcostsis,however,substantiallyajudgmentalprocess.Usersoffinancialstatementsshouldbeawareofthisconstraint.7.Inpractice,trade-offsbetweenqualitativecharacteristicsareoftennecessary.Determiningtherelativeimportanceofthecharacteristicsindifferentcasesisamatterofprofessionaljudgment.1SME-FRFSMALLANDMEDIUM-SIZEDENTITYFINANCIALREPORTINGFRAMEWORKElements8.An“asset”isaresourcecontrolledbytheentityasaresultofpasteventsandfromwhichfutureeconomicbenefitsareexpectedtoflowtotheentity.9.A“liability”isapresentobligationoftheentityarisingfrompastevents,thesettlementofwhichisexpectedtoresultinanoutflowfromtheentityofresourcesembodyingeconomicbenefits.10.“Equity”istheresidualinterestintheassetsoftheentityafterallitsliabilitieshavebee