60
NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2014
2.
Significant accounting policies
(continued)
2.11 Impairment of non-financial assets
(continued)
(b)
Property, plant and equipment
Investments in subsidiaries and joint venture
(continued)
If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying
amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount.
The difference between the carrying amount and recoverable amount is recognised as an
impairment loss in profit or loss.
An impairment loss for an asset other than goodwill is reversed only if there has been a
change in the estimates used to determine the asset’s recoverable amount since the last
impairment loss was recognised. The carrying amount of this asset is increased to its revised
recoverable amount, provided that this amount does not exceed the carrying amount that
would have been determined (net of any accumulated depreciation) had no impairment loss
been recognised for the asset in prior years. A reversal of impairment loss for an asset other
than goodwill is recognised in profit or loss.
2.12 Financial assets
(a)
Classification
The Group classifies its financial assets in the following categories: at fair value through profit
or loss, loans and receivables, held-to-maturity, and available-for-sale. The classification
depends on the nature of the asset and the purpose for which the assets were acquired.
Management determines the classification of its financial assets at initial recognition, and
in the case of assets classified as held-to-maturity, re-evaluates this designation at each
balance sheet date. There are no financial assets categorised as fair value through profit or
loss and held-to-maturity.
(i)
Loans and receivables
Loans and receivables are non-derivative financial assets with fixed or determinable
payments that are not quoted in an active market. They are presented as current
assets, except for those expected to be realised later than 12 months after the balance
sheet date which are presented as non-current assets. Loans and receivables are
presented as “trade and other receivables” and “cash and cash equivalents” on the
balance sheet.
(ii)
Available-for-sale financial assets
Available-for-sale financial assets are non-derivatives that are either designated in this
category or not classified in any of the other categories. They are presented as non-
current assets unless the investment matures or management intends to dispose of
the assets within 12 months after the balance sheet date.
