Haier 2009 Annual Report Download - page 90
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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
88
2.4 Summary of Significant Accounting
Policies (Cont’d)
Government grants
Government grants are recognised at their fair value where there
is reasonable assurance that the grant will be received and all
attaching conditions will be complied with. When the grant relates
to an expense item, it is recognised as income over the periods
necessary to match the grant on a systematic basis to the costs
that it is intended to compensate.
Revenue recognition
Revenue is recognised when it is probable that the economic
benefits will flow to the Group and when the revenue can be
measured reliably, on the following bases:
(a) from the sale of goods, when the significant risks and rewards
of ownership have been transferred to the buyer, provided
that the Group maintains neither managerial involvement to
the degree usually associated with ownership, nor effective
control over the goods sold;
(b) rental income, on a time proportion basis over the lease
terms;
(c) interest income, on an accrual basis using the effective interest
method by applying the rate that discounts the estimated
future cash receipts through the expected life of the financial
instrument to the net carrying amount of the financial asset;
and
(d) dividend income, when the shareholders’ rights to receive
payment has been established.
Share-based payment transactions
The Company operates a share option scheme for the purpose
of providing incentives and rewards to eligible participants who
contribute to the success of the Group’s operations. Employees
(including directors) of the Group receive remuneration in the form
of share-based payment transactions, whereby employees render
services as consideration for equity instruments (“equity-settled
transactions”).
2.4
(a)
(b)
(c)
(d)