Asus 2014 Annual Report Download - page 231

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The Company 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 Company completes the evaluation.
4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The principal accounting policies applied in the preparation of these separate financial statements are
set out below. These policies have been consistently applied to all the periods presented, unless
otherwise stated.
(1) Compliance statement
These separate financial statements of the Company have been prepared in accordance with the
“Regulations Governing the Preparation of Financial Statements by Securities Issuers”.
(2) Basis of preparation
A. Except for the following significant items, these separate 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, and less present value of defined benefit obligation.
B. The critical accounting estimates and assumptions used in preparation of financial statements
and the critical judgments in applying the Company’s accounting policies are disclosed in Note
5.
(3) Foreign currency translation
Items included in the financial statements are measured using the currency of the primary
economic environment in which the entity operates (the “functional currency”). The separate
financial statements are presented in “New Taiwan Dollars (NTD)”, which is the Company’s
functional and presentation currency.
A. Foreign currency transactions and balances
(A) Foreign currency transactions are translated into the functional currency using the exchange
rates prevailing at the dates of the transactions or valuation where items are remeasured.
Foreign exchange gains and losses resulting from the settlement of such transactions are
recognized in profit or loss in the period in which they arise.
New Standards, Interpretations and Amendments
Effective Date by
International Accounting
Standards Board
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