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31 December 2009

NOTES TO FINANCIAL STATEMENTS 財務報表附註
HAIER ELECTRONICS GROUP CO., LTD ANNUAL REPORT 2009
64
2.1 Basis of Preparation (Contd)
Statement of compliance
These financial statements have been prepared in accordance with
International Financial Reporting Standards (“IFRSs”) which includes
all International Financial Reporting Standards, International
Accounting Standards (“IASs”) and Interpretations promulgated by
the International Accounting Standards Board (the “IASB”) and the
disclosure requirements of the Hong Kong Companies Ordinance.
They have been prepared under the historical cost convention.
Hong Kong Financial Reporting Standards (“HKFRSs”) includes all
Hong Kong Financial Reporting Standards, Hong Kong Accounting
Standards (“HKASs”) and Interpretations issued by the Hong Kong
Institute of Certified Public Accountants (the “HKICPA”). Although
HKFRSs have been fully converged with IFRSs in all material respects
since 1 January 2005, in preparing these financial statements,
management has given due consideration to the requirements
of IFRS 1 First-time Adoption of International Financial Reporting
Standards. For this purpose, the date of the Groups transition to
IFRSs was determined to be 1 January 2008, being the beginning
of the earliest period for which the Group presents full comparative
information in these financial statements.
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