Consolidated Profit And Loss Account Page 15
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48NOTES TO THE ACCOUNTS
Segment revenue, expenses, results, assets and liabilities include items directly attributable to a segment
as well as those that can be allocated on a reasonable basis to that segment. Segment revenue,
expenses, assets and liabilities are determined before intra-group balances and intra-group transactions
are eliminated as part of the consolidation process, except to the extent that such intra-group balances
and transactions are between group companies within a single segment. Inter-segment pricing is based
on similar terms as those available to other external parties.
Segment capital expenditure is the total cost incurred during the period to acquire segment assets (both
tangible and intangible) that are expected to be used for more than one period.
Unallocated items mainly comprise financial and corporate assets, interest-bearing borrowings,
corporate and financing expenses.
q)
Employee benefits
(i)
Defined contribution retirement schemes
Contributions to the schemes are expensed as incurred and may be reduced by contributions
forfeited by those employees who leave the schemes prior to vesting fully in the contributions. The
assets of the schemes are held separately from those of the Group in independently administered
funds.
(ii) Mandatory Provident Funds
Contributions to the Mandatory Provident Fund as required under the Hong Kong Mandatory
Provident Fund Schemes Ordinance are charged to the profit and loss account when incurred.
(iii) Central Provident Fund in Singapore
Contributions to the Central Provident Fund in Singapore as required under the Central Provident
Fund Act are charged to the profit and loss account when incurred.
(iv) Equity compensation benefits
When the Group grants employees options to acquire shares of the Company, the option exercise
price must be at least the higher of (i) the closing price of the shares as stated in the Stock
Exchange’s daily quotations sheet on the date of grant; and (ii) the average closing price of the
shares as stated in the Stock Exchange’s daily quotations sheets for the five business days
immediately preceding the date of grant and no employee benefit cost or obligation is recognised
at that time. When the options are exercised, shareholders’ equity is increased by the amount of
the proceeds received.
(v)
Salaries, annual bonuses, paid annual leave, leave passage and the cost to the Group of non-
monetary benefits are accrued in the year in which the associated services are rendered by
employees of the Group. Where payment or settlement is deferred and the effect would be
material, these amounts are stated at their present values.
47
Wheelock and Company Limited Annual Report 2004/05
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Legal