Asus 2009 Annual Report Download - page 188
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184
ASUSTeK COMPUTER INC. AND SUBSIDIARIES
Notes to Financial Statements
(Continued)
2009/12/31 2008/12/31
Book Value Fair Value Book Value Fair Value
Financial liabilities:
Financial liabilities measured
at fair value through profit
or loss – current 283,596 283,596 1,721,005 1,721,205
Bonds payable – current
3,609,633 3,621,586 11,988,037 12,051,082
Long-term loans (including
current portion) 10,324,144 10,324,144 11,969,627 11,969,627
B. The following methods and assumptions were used in estimating fair values:
(a) The book value of short-term financial instruments is assessed to be the fair value due to
the short-term maturity periods of these instruments. Such method is applied to cash and
cash equivalents, notes and accounts receivable (payable), other current financial assets,
accrued expenses and other payables.
(b) Financial assets (or liabilities) measured at fair value through profit or loss and available-
for-sale financial assets: If public quote of financial assets and liabilities is available, then
the quoted price is adopted as the fair value. If market value is not available, an
assessment method that refers to quoted prices is used. The assumptions used are the
same as those used by financial market traders when quoting their prices.
(c) Financial assets carried at cost and financial assets held to maturity: Those are investments
in companies whose shares are not publicly listed and beneficiary certificates, and have no
available market prices.
(d) The fair value of derivative financial assets and liabilities for hedging is determined using a
valuation technique. The estimates and assumptions used in such valuation are similar to
those used by market participants when deciding a price for financial assets or liabilities.
That information is available to the Group.
(e) The fair value of convertible bonds payable is not available, and a valuation technique is
used. The assumptions used in the said valuation are the same as those used by financial
market traders when quoting their prices. However, the fair value is not expected to equal
future cash outflow.
(f) The fair value of long-term loans was estimated by the discounted value of expected cash
flow. The discount rate used was based on the interest rate of long-term loans with similar
conditions. Based on the results of the evaluation, the fair value is close to book value.