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Cathay Pacific Airways Limited Interim Report 2013 29
Condensed Financial Statements
NOTES TO THE ACCOUNTS
1. Basis of preparation and accounting policies
The interim financial report has been prepared in accordance with the applicable disclosure provisions
of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the
“Listing Rules”), including compliance with Hong Kong Accounting Standard (“HKAS”) 34, “Interim
Financial Reporting”, issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”).
Itwas authorised for issue on 14th August 2013.
The interim financial report has been prepared in accordance with the same accounting policies
adopted in the 2012 annual accounts, except for the accounting policy changes that are expected to
be reflected in the 2013 annual accounts. Details of these changes in accounting policies are set out in
note 2 below.
2. Changes in accounting policies
The HKICPA has issued a number of new Hong Kong Financial Reporting Standards (“HKFRS”) and
amendments to HKFRSs that are first effective for the current accounting period of the Group and the
Company. Of these, the following developments are relevant to the Group’s accounts:
• HKFRSs (Amendment) “Annual Improvements 2009-2011 Cycle”
• Amendments to HKAS 1 “Presentation of Financial Statements – Presentation of Items of Other
Comprehensive Income”
• Amendments to HKFRS 7 “Disclosures – Offsetting Financial Assets and Financial Liabilities”
• HKFRS 10 “Consolidated Financial Statements”
• HKFRS 11 “Joint Arrangements”
• Revised HKAS 19 “Employee Benefits”
• HKFRS 13 “Fair Value Measurement”
The Group has not applied any new standard or interpretation that is not yet effective for the current
accounting period.
The annual improvements to HKFRSs 2009 to 2011 Cycle consist of six amendments to five existing
standards, including an amendment to HKAS 34. The amendment aligns the disclosure requirements
for segment assets and liabilities in interim financial report with those in HKFRS 8 “Operating
Segments”. It has had no significant impact on the results and financial position of the Group.