Asus 2014 Annual Report Download - page 161

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157
The Group is assessing the potential impact on the financial position and results of operations of
the new standards, interpretations and amendments above. The related impact will be disclosed
when the Group completes the evaluation.
4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The principal accounting policies applied in the preparation of these consolidated financial statements
are set out below. These policies have been consistently applied to all the periods presented, unless
otherwise stated.
(1) Compliance statement
These consolidated financial statements of the Group have been prepared in accordance with the
“Regulations Governing the Preparation of Financial Reports by Securities Issuers” and the
International Financial Reporting Standards, International Accounting Standards, IFRIC
Interpretations, and SIC Inrerpretations as endorsed by the FSC (“IFRSs”) .
(2) Basis of preparation
A. Except for the following significant items, these consolidated financial statements have been
prepared under the historical cost convention:
(A) Financial assets and financial liabilities (including derivative instruments) at fair value
through profit or loss.
(B) Available-for-sale financial assets measured at fair value.
(C) Liabilities on cash-settled share-based payment arrangements measured at fair value.
(D) Defined benefit liabilities recognized based on the net amount of pension fund assets plus
unrecognized past service cost, less present value of defined benefit obligation.
B. The critical accounting estimates and assumptions used in preparation of financial statements
and the critical judgements in applying the Group’s accounting policies are disclosed in Note 5.
New Standards, Interpretations and Amendments
Effective Date by
International Accounting
Standards Board
Agriculture: bearer plants
(amendments to IAS 16 and IAS 41)
January 1, 2016
Defined benefit plans: employee contributions
(amendments to IAS 19R)
July 1, 2014
Equity method in separate financial statements
(amendments to IAS 27)
January 1, 2016
Recoverable amount disclosures for non-financial assets
(amendments to IAS 36)
January 1, 2014
Novation of derivatives and continuation of hedge accounting
(amendments to IAS 39)
January 1, 2014
IFRIC 21, “Levies” January 1, 2014
Improvements to IFRSs 2010-2012 July 1, 2014
Improvements to IFRSs 2011-2013 July 1, 2014
Improvements to IFRSs 2012-2014 January 1, 2016