Singapore Airlines 2016 Annual Report Download - page 116

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Notes to the Financial Statements
31 March 2016
1 General
Singapore Airlines Limited (“the Company”) is a limited liability company incorporated and domiciled in the Republic of Singapore. The Company
is listed on the Singapore Exchange Securities Trading Limited (“SGX-ST”) and is a subsidiary company of Temasek Holdings (Private) Limited,
incorporated in the Republic of Singapore.
The registered oice of the Company is at Airline House, 25 Airline Road, Singapore 819829.
The financial statements of the Group as at and for the year ended 31 March 2016 comprise the Company and its subsidiary companies (together
referred to as “the Group” and individually as “Group entities”) and the Group’s interest in equity-accounted investees.
The principal activities of the Group consist of passenger and cargo air transportation, engineering services, training of pilots, air charters and
tour wholesaling and related activities. The principal activity of the Company consists of passenger air transportation.
The financial statements for the financial year ended 31 March 2016 were authorised for issue in accordance with a resolution of the Board of
Directors on 12 May 2016.
2 Summary of Significant Accounting Policies
The accounting policies applied by the Group and the Company are consistent with those used in the previous financial year, except as explained
in Note 2(b), which addresses changes in accounting policies.
(a) Basis of preparation
The consolidated financial statements of the Group and the statement of financial position and statement of changes in equity of the
Company have been prepared in accordance with Singapore Financial Reporting Standards (“FRS”).
The financial statements have been prepared on the historical cost basis except as disclosed in the accounting policies below.
The financial statements are presented in Singapore Dollars (“SGD”) and all values in the tables are rounded to the nearest million, unless
otherwise stated.
(b) Changes in accounting policies
The accounting policies adopted are consistent with those of the previous financial year except as follows:
On 1 April 2015, the Group adopted all the new and revised standards and interpretations of FRS (“INT FRS”) that are eective for annual
financial periods beginning on or aer 1 April 2015. The adoption of these standards and interpretations did not have any material eect
on the financial performance or position of the Group and the Company.
Singapore Airlines114
FINANCIAL