Cathay Pacific 2005 Annual Report Download - page 85

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83
Cathay Pacific Airways Limited Annual Report 2005
29. Impact of further new accounting standards
HKICPA has issued new and revised HKAS and HKFRS which become effective for accounting periods beginning on
or after 1st January 2006 and which are not adopted in these financial statements. The following new accounting
standards are relevant to the Group:
(a) HKFRS 7 “Financial Instruments: Disclosures” will become effective for accounting periods beginning on or after
1st January 2007. Adoption of this new accounting standard will result in different disclosures with respect to
financial instruments and financial risks. The accounting standard will have no impact on either the results or
financial position of the Group.
(b) Amendment to HKAS 19 Employee Benefits “Actuarial Gains and Losses, Group Plans and Disclosures” will
become effective for accounting periods beginning on or after 1st January 2006. The amendment introduces an
additional option to recognise all actuarial gains and losses arising in post-employment defined benefit plans as
they occur, outside the profit or loss in a statement of recognised income and expense. The Group is in the
process of making an assessment on the impact of this additional option on both the results and the financial
position of the Group.
Notes to the Accounts Supplementary Information