Hong Kong Financial Reporting Standards definition

Hong Kong Financial Reporting Standards means all Hong Kong Financial Reporting Standards, Hong Kong Accounting Standards (HKAS) and interpretations issued by the Hong Kong Institute of Certified Public Accountants.
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Hong Kong Financial Reporting Standards financial reporting standards and interpretations issued by the Hong Kong Institute of Certified Public Accountants. They comprise (i) Hong Kong Financial Reporting Standards, (ii) Hong Kong Accounting Standards and (iii) Interpretations.
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Hong Kong Financial Reporting Standards or “HKFRS”' shall mean financial reporting standards approved by the Council of the Hong Kong Society of Accountants (“HKSA”) and includes all Statements of Standard Accounting Practice (“SSAP”) and interpretations of HKFRS approved by the HKSA from time to time;
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Examples of Hong Kong Financial Reporting Standards in a sentence

  • It is expected that according to the Hong Kong Financial Reporting Standards, the transactions contemplated under the Finance Lease Agreement shall be accounted for as financing arrangements and therefore would not give rise to any gain or loss.

  • However, the Project Companies will still be accounted for and consolidated in the audited consolidated accounts of the Company as the Company’s subsidiaries under the Hong Kong Financial Reporting Standards.

  • The Board would like to provide an update to the Shareholders that, after consultation with the auditor of the Company, upon Completion, LIV is classified as a non-wholly-owned subsidiary of the Company pursuant to the Hong Kong Financial Reporting Standards.

  • Such financial statements were prepared in accordance with Hong Kong Financial Reporting Standards (the “HKFRS”) issued by the Hong Kong Institute of Certified Public Accountants.

  • In accordance with Hong Kong Financial Reporting Standards, the transactions contemplated under the Finance Lease Agreement as a whole shall be accounted for as a secured borrowing and therefore would not give rise to any gain or loss.

  • In accordance with Hong Kong Financial Reporting Standards 16 (which came into effect on 1 January 2019) (“HKFRS 16”), Yuexiu REIT will be required to recognise the Staff Quarters Sublease as a right-of-use asset from the commencement date of the Staff Quarters Sublease (being 1 December 2019).

  • Amounts in Hong Kong dollars have been translated into US dollars at average exchange rate in the first half of 2006 of HK$7.7582 = US$1 Non-comparability of financial statements From 2005, all Hong Kong Statements of Standard Accounting Practice (“HKSSAPs”) and Interpretations have been withdrawn and are replaced by new standards — Hong Kong Financial Reporting Standards — HKFRS — which are converged to International Financial Reporting Standards.

  • In accordance with Hong Kong Financial Reporting Standards, this, together with the 37.014% of the total issued share capital of China Nanshan which the Company beneficially owns, will result in the Company being able to consolidate the assets, liabilities and the financial results of China Xxxxxxx into the consolidated financial statements of the Company.

  • The Disposal Target Group has been treated as joint venture of the Company under Hong Kong Financial Reporting Standards.

  • There will not be any gain or loss accrued to the Group in its consolidated financial statements pursuant to the sale of the Machineries and Equipment under the Finance Lease Agreement, as it will be accounted for as a collateralised borrowing in the Group’s consolidated financial statements without recognition of any sale of Machineries and Equipment in accordance with Hong Kong Financial Reporting Standards.


More Definitions of Hong Kong Financial Reporting Standards

Hong Kong Financial Reporting Standards means standards of accounting issued by the Council of the Hong Kong Institute of Certified Public Accountants pursuant to section 18A of the Professional Accountants Ordinance (Cap. 50); and
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Hong Kong Financial Reporting Standards or “HKFRS” shall mean the financial reporting standards approved by the Council of the Hong Kong Institute of Certified Public Accountants (“HKICPA”), and includes all Statements of Standard Accounting Practice and interpretations of HKFRS approved by the HKICPA from time to time;
Sample 1

Related to Hong Kong Financial Reporting Standards

  • International Financial Reporting Standards means the accounting standards and interpretations adopted by the International Accounting Standards Board.

  • Common Reporting Standard (CRS) means the Standard for Automatic Exchange of Financial Account Information (“AEOFAI”) in Tax Matters and was developed in response to the G20 request and approved by the Organisation for Economic Co-operation and Development (OECD) Council on 15 July 2014, calls on jurisdictions to obtain information from their financial institutions and automatically exchange that information with other jurisdictions on an annual basis. It sets out the financial account information to be exchanged, the financial institutions required to report, the different types of accounts and taxpayers covered, as well as common due diligence procedures to be followed by financial institutions.

  • Common Reporting Standard means the standard for automatic exchange of financial account information in tax matters (which includes the Commentaries), developed by the OECD, with G20 countries;

  • auditing standards means auditing standards as defined in National Instrument 52-107 Acceptable Accounting Principles and Auditing Standards;

  • Financial Reporting Measure means any measure determined and presented in accordance with the accounting principles used in preparing the Company’s financial statements, and any measures derived wholly or in part from such measures, including GAAP, IFRS and non-GAAP/IFRS financial measures, as well as stock or share price and total equityholder return.

  • Australian Accounting Standards refers to the standards of that name, as amended from time to time, that are maintained by the Australian Accounting Standards Board referred to in section 227 of the Australian Securities and Investments Commission Act 2001 (Cth);

  • International Accounting Standards means International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) and related Interpretations (SIC-IFRIC interpretations), subsequent amendments to those standards and related interpretations, and future standards and related interpretations issued or adopted by the International Accounting Standards Board (IASB);

  • Financial Reporting Measures means measures that are determined and presented in accordance with the accounting principles used in preparing the Company’s financial statements, and all other measures that are derived wholly or in part from such measures. Stock price and total shareholder return (and any measures that are derived wholly or in part from stock price or total shareholder return) shall, for purposes of this Policy, be considered Financial Reporting Measures. For the avoidance of doubt, a Financial Reporting Measure need not be presented in the Company’s financial statements or included in a filing with the SEC.

  • Generally accepted auditing standards means Canadian Generally Accepted Auditing Standards as adopted by the Canadian Institute of Chartered Accountants applicable as of the date on which such record is kept or required to be kept in accordance with such standards.

  • Applicable Accounting Standards means Generally Accepted Accounting Principles in the United States, International Financial Reporting Standards or such other accounting principles or standards as may apply to the Company’s financial statements under United States federal securities laws from time to time.

  • Accounting Standards means the standards of accounting or any addendum thereto for companies or class of companies referred to in section 133;

  • Operating Standards shall have the meaning given such term in Section 2.1.

  • Financial reporting year means the latest consecutive twelve-month period for which any of the following reports used to support a financial test is prepared:

  • Financial Report means the annual financial report prepared under Chapter 2M of the Corporations Act for the Company and its controlled entities;

  • Financial Reports means the Annual Financial Statements and the Interim Accounts.

  • Accounting Standard means GAAP.

  • Audited financial report means and includes those items specified in Section 5 of this regulation.

  • Internal control over financial reporting means a process effected by an insurer’s board of directors, management and other personnel designed to provide reasonable assurance regarding the reliability of the financial statements, i.e., those items specified in Section 5(B)(2) through 5(B)(7) of this regulation and includes those policies and procedures that:

  • Reliability Standards means the criteria, standards, rules and requirements relating to reliability established by a Standards Authority.

  • IASB means the International Accounting Standards Board;

  • National Standards means the document entitled “National Standards for the Volatile Organic Compound Content of Canadian Commercial/Industrial Surface Coating Products Automotive Refinishing, October 1998, PN 1288" and published by the Canadian Council of Ministers of the Environment;

  • IFRS means International Financial Reporting Standards as issued by the International Accounting Standards Board.

  • Practice of public accounting means the performance or the offering to perform, by a person holding oneself out to the public as a certified public accountant or a licensed public accountant, one or more kinds of professional services involving the use of accounting, attest, or auditing skills, including the issuance of reports on financial statements, or of one or more kinds of management advisory, financial advisory, or consulting services, or the preparation of tax returns or the furnishing of advice on tax matters. However, with respect to licensed public accountants, the “practice of public accounting” shall not include attest or auditing services or the rendering of an opinion attesting to the reliability of any representation embracing financial information.

  • Underwriting Standards As to each Mortgage Loan, the Seller's underwriting guidelines in effect as of the date of origination of such Mortgage Loan.

  • standards of generally recognised accounting practice means an accounting practice complying with standards applicable to municipalities or municipal entities as determined by the Accounting Standards Board

  • NERC Reliability Standards means the most recent version of those reliability standards applicable to the Generating Facility, or to the Generator Owner or the Generator Operator with respect to the Generating Facility, that are adopted by the NERC and approved by the applicable regulatory authorities, which are available at xxxx://xxx.xxxx.xxx/files/Reliability_Standards_Complete_Set.pdf, or any successor thereto.