Asus 2012 Annual Report Download - page 138
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134
(16) Revenues, costs and expenses
The Company recognizes revenue when the earning process has been significantly completed,
which means the revenue has been realized or is readily realizable and earned. Cost is recognized
when the related revenue is accrued; expenses are recognized as current expenses when incurred.
(17) Use of estimates
The preparation of financial statements in conformity with generally accepted accounting
principles requires management to make estimates and assumptions that affect the amounts of
assets and liabilities and the disclosures of contingent assets and liabilities at the date of the
financial statements and the amounts of revenues and expenses during the reporting period.
Actual results could differ from those assumptions and estimates.
(18) Operating segments
In accordance with SFAS No. 41, “Operating Segments”, operating segments are reported in a
manner consistent with the internal reporting provided to the chief operating decision-maker.
3. CHANGES IN ACCOUNTING PRINCIPLES
(1) Notes and accounts receivable and other receivables
Effective January 1, 2011, the Company adopted the amended SFAS No. 34, “Financial
Instruments: Recognition and Measurement”. Under this standard, a provision for impairment
(bad debt) of accounts and notes receivable and other receivables is established when there is
objective evidence that they are impaired. This change in accounting principle had no significant
effect on the net income for the year ended December 31, 2011.
(2) Operating segments
Effective January 1, 2011, the Company adopted SFAS No. 41, “Operating Segments”, replacing
the original SFAS No. 20, “Segment Reporting”. In accordance with such standard, the Company
re-prepared the segment information for 2010 upon the first adoption of SFAS No. 41. This
change in accounting principle had no effect on the net income and earnings per share for the year
ended December 31, 2011.
4. DETAILS OF SIGNIFICANT ACCOUNTS
(1) Cash and cash equivalents
2012/12/31 2011/12/31
Petty cash and cash on hand 250$ 250$
Checking and demand deposits 6,281 5,677
Time deposits 21,714,186 16,602,312
21,720,717$ 16,608,239$