Asus 2012 Annual Report Download - page 185
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181
(19) Revenues, costs and expenses
The Group 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.
(20) Use of estimates
The preparation of consolidated 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 consolidated financial statements and the amounts of revenues and expenses during the
reporting period. Actual results could differ from those assumptions and estimates.
(21) Business combination
Business combination transactions are accounted for by the purchase method in accordance with
R.O.C SFAS No. 25. The purchase cost of the acquiring corporation in a business combination
includes purchase price and all direct costs of an acquisition, and the excess of acquisition cost
over the sum of the fair value of the identifiable net assets is recognized as goodwill.
(22) 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 Group 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 Group adopted SFAS No. 41, “Operating Segments”, replacing the
original SFAS No. 20, “Segment Reporting”. In accordance with such standard, the Group
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.