HTC 2012 Annual Report Download - page 122

(2) Major Customers
Revenues in 2011 and 2012, from transactions with a single external customer that were 10 percent or more were as follows:
2011 2012
Customer NT$ NT$ US$ (Note 3)
A $75,243,879 $20,487,411 $703,334
B 47,541,529 16,636,181 571,121
C 63,091,960 11,210,923 384,871
$185,877,368 $48,334,515 $1,659,326
33. PRE-DISCLOSURE FOR THE ADOPTION OF INTERNATIONAL FINANCIAL REPORTING
STANDARDS
Under Rule No. 0990004943 issued by the Financial Supervisory Commission ("FSC") on February 2, 2010, the Company
discloses the following information on the adoption of the International Financial Reporting Standards ("IFRSs") as follows:
(1) On May 14, 2009, the FSC announced the "Framework for the Adoption of International Financial Reporting Standards by
the Companies in the ROC." In this framework, starting 2013, companies with shares listed on the Taiwan Stock Exchange
("TWSE") or traded on the Taiwan GreTai Securities Market or Emerging Stock Market should prepare their consolidated
financial statements in accordance with the Guidelines Governing the Preparation of Financial Reports by Securities
Issuers and the International Financial Reporting Standards, International Accounting Standards, and the Interpretations
as well as related guidance translated by the Accounting Research and Development Foundation and issued by the FSC.
To comply with this framework, the Company has set up a project team and made a plan to adopt the IFRSs. Leading
the implementation of this plan is Mr. James Chen, HTC's vice president. The main contents of the plan, schedule and
status of execution as of December 31, 2012 are as follows:
Contents of Plan Responsible Department Status of
Execution
Assessment phase: January 1, 2010 to December 31, 2011
Make a plan to adopt the IFRSs and set up a project team. Finance and accounting Completed
Conduct phase I internal training of employees. Finance and accounting and Talent
management Completed
Compare and analyze the differences between the existing accounting policies and
the accounting policies to be adopted under IFRSs. Finance and accounting Completed
Assess the adjustments of the existing accounting policies. Finance and accounting Completed
Assess the applicability of IFRS 1 - "First-time Adoption of International Financial
Reporting Standards." Finance and accounting Completed
Assess the adjustments of the related information technology system and internal
control.
Finance and accounting, Internal
audit and Information technology Completed
Preparation phase: January 1, 2011 to December 31, 2012
Determine how to adjust the existing accounting policies in accordance with IFRSs. Finance and accounting Completed
Determine how to apply the "First-time Adoption of International Financial
Reporting Standards" Finance and accounting Completed
Adjust the related information technology system and internal control. Finance and accounting, Internal
audit and Information technology Completed
Conduct phase II internal training of employees. Finance and accounting and Talent
management Completed
Implementation phase: January 1, 2012 to December 31, 2013
Make a test run of the adjusted information technology system. Finance and accounting and
Information technology Completed
Gather information to prepare the opening balance sheets and comparative
financial statements in conformity with IFRSs. Finance and accounting In progress
Prepare financial statements in conformity with IFRSs. Finance and accounting In progress
(2) Significant differences identified by the Company as of December 31, 2012 that may arise between current accounting
policies under R.O.C. GAAP and the ones under IFRSs that will be used in the preparation of financial statements in the
future are as follows:
Reconciliation of its balance sheet as of January 1, 2012:
ROC GAAP Effect of the Transition from
ROC GAAP to IFRSs
IFRSs Amount Item Note
Item Amount
Measurement
or Recognition
Inconsistency
Presentation
Difference
NT$ NT$ NT$ NT$ US$ (Note 3)
Assets
Current assets
Cash and cash equivalents $87,501,508 $-
($25,474,750) $62,026,758 $2,129,382 Cash and cash equivalents a)
- - - 25,474,750 25,474,750 874,549 Other financial assets -
current a)
Financial assets at fair
value through profit or
loss - current
256,868 - - 256,868 8,818
Financial assets at fair
value through profit or
loss - current
Available-for-sale financial
assets - current 736,031 - - 736,031 25,268 Available-for-sale financial
assets - current
Notes and accounts
receivable, net 64,719,791 - - 64,719,791 2,221,834 Notes and accounts
receivable, net
Other financial assets -
current 1,405,911 - - 1,405,911 48,265 Other receivables
Inventories 28,430,590 - - 28,430,590 976,024 Inventories
Prepayments 6,507,516 - - 6,507,516 223,403 Prepayments
Deferred income tax
assets - current 2,246,196 - (2,246,196) - - - b)
Other current assets 1,055,480 - - 1,055,480 36,235 Other current assets
Total current assets 192,859,891 - (2,246,196) 190,613,695 6,543,778
Long-term investments
Available-for-sale financial
assets - non-current 279 - - 279 10 Available-for-sale financial
assets - non-current
Held-to-maturity financial
assets - non-current 204,597 - - 204,597 7,024 Held-to-maturity financial
assets - non-current
Financial assets carried at
cost - non-current 3,408,654 - - 3,408,654 117,019 Financial assets carried at
cost - non-current
Investments accounted for
by the equity method 71,732 - - 71,732 2,463 Investments accounted
for by the equity method
Total long-term investments 3,685,262 - - 3,685,262 126,516
Properties 21,512,478 - 203,155 21,715,633 745,499 Property, plant and
equipment g), h)
Intangible assets
Patents 11,152,098 - - 11,152,098 382,852 Patents
Goodwill 10,812,564 - - 10,812,564 371,196 Goodwill
Deferred pension cost 342 (342) - - - - d)
Other intangible assets 595,784 - 207,033 802,817 27,560 Other intangible assets g)
Total intangible assets 22,560,788 (342) 207,033 22,767,479 781,608
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