Haier 2009 Annual Report Download - page 67

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31 December 2009

NOTES TO FINANCIAL STATEMENTS 財務報表附註
 海爾電器集團有限公司 65
2.1 Basis of Preparation (Contd)
Statement of compliance (Cont’d)
With due regard to the Groups accounting policies in previous
periods and the requirements of IFRS 1, management has concluded
that no adjustments were required to the amounts reported under
HKFRSs as at the date of transition to IFRSs or in respect of the
year ended 31 December 2008. As such, the Group has made an
explicit and unreserved statement of compliance with IFRSs in the
first IFRS financial statements which included these amounts as
comparatives.
Basis of consolidation
The consolidated financial statements include the financial statements
of the Company and its subsidiaries for the year ended 31 December
2009. The results of subsidiaries are consolidated from the date of
acquisition, being the date on which the Group obtains control, and
continue to be consolidated until the date that such control ceases.
All income, expenses and unrealised gains and losses resulting from
intercompany transactions and intercompany balances within the
Group are eliminated on consolidation in full.
Minority interests represent the interests of outside shareholders not
held by the Group in the results and net assets of the Companys
subsidiaries. An acquisition of minority interests is accounted for
using the entity concept method whereby the difference between
the consideration and the book value of the share of the net assets
acquired is recognised as an equity transaction.
2.1 
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