Accounting in Hong Kong: Regulatory framework and Advanced Accounting Practice (20th Edition) (e-Book)

Section 1: Framework of Financial Reporting

1          Conceptual Framework for Financial Reporting................................................. 3

Section 2: Accounting for Business Transactions

2          Property, Plant and Equipment, and Impairment of Assets.............................. 23

3          Accounting for Government Grants and Disclosure of Government Assistance, Borrowing Costs, and

Non-current Assets Held for Sale and Discontinued Operations...................... 59

4          Investment Property......................................................................................... 85

5          Intangible Assets.............................................................................................. 97

6          Revenue from Contracts with Customers....................................................... 111

7          Leases............................................................................................................ 131

8          Provisions, Contingent Liabilities and Contingent Assets............................... 151

9          Income Taxes........................................................................................................................... 165

10      The Effects of Changes in Foreign Exchange Rates..................................... 183

11      Earnings Per Share........................................................................................ 199

12      Financial Instruments..................................................................................... 217

13      Employee Benefits and Share-based Payment.............................................. 243

Section 3: Preparation and Presentation of Financial Statements

14      Presentation of Financial Statements............................................................. 267

15      Accounting Policies, Changes in Accounting Estimates

and Errors, and Events after the Reporting Period........................................ 287

16      Consolidated Statement of Financial Position................................................ 303

17      Consolidated Statement of Profit or Loss and

Other Comprehensive Income....................................................................... 341

18      Associates and Joint Ventures....................................................................... 359

19      Statement of Cash Flows............................................................................... 377

20      Related Party Disclosures.............................................................................. 409

Patrick P. H. Ng (M. Phil., BA (Hons), FCPA, FCCA, HON. H.K.A.T.) is a Lecturer of the Department of Business Administration at the Hong Kong Institute of Vocational
Education (Chai Wan). He received a Bachelor of Arts Degree with First Class Honours from the University of Essex and a Master of Philosophy from the University of Cambridge.

He is a Fellow of the Hong Kong Institute of Certified Public Accountants (HKICPA) and a Fellow of the Association of Chartered Certified Accountants (ACCA), as well as an Honorary Hong Kong Accounting Technician.

Patrick served as a board member of the Hong Kong Institute of Accredited Accounting Technicians (HKIAAT) from 1999 to 2003, editor of the Members’ Journal of ACCA (Hong Kong) from 1997 to 2005, and chief editor of Accounting Personnel, the Journal of HKIAAT, from 1996 to 2006. He is the author/co-author of thirteen accounting textbooks/manuals entitled, HKIAAT’s AAT Paper 1 Financial Accounting, Advanced Accounting, Financial Accounting for Hong Kong, New Senior Secondary BAFS Frank Woods’ Accounting Module Exam Practice 1, Introduction to Financial Accounting in Hong Kong, Basic Cost Accounting in Hong Kong, Financial Accounting, HKAL – Principles of Accounts (Volumes 1 and 2), HKIAAT’s AAT Paper 7 Financial Accounting, HKIAAT’s PBE Paper 1 Financial Reporting, Examination Guide to ACCA Paper 13 (H) Financial Reporting Environment (Hong Kong), Corporate Accounting
– Business Combinations in Hong Kong, Hong Kong Master GAAP Guide, and China Master GAAP Guide.

Eden Y. H. Chow (DBA, MAcc, MEd, BBA, CPA (Aust.)) is a Senior Lecturer of the
Department of Accountancy at The Hang Seng University of Hong Kong. Dr Chow is a member of CPA Australia. Before joining the teaching profession, she worked in a CPA firm. She holds a Doctoral Degree in Business Administration from the University of
Newcastle, a Master’s Degree in Accounting from the Curtin University and a Master’s Degree in Education from the Chinese University of Hong Kong. She is the co-author of New Horizon: Business, Accounting and Financial Studies, Financial Accounting 1 and HKIAAT’s PBE Paper I Financial Reporting.

Ted Y. T. Chan (MSc, BBA, CPA, CFA) is a Lecturer of the Department of Accountancy at The Hang Seng University of Hong Kong. After graduating from the Chinese University of Hong Kong, Mr. Chan worked in one of the Big 4 accounting firms and became an Associate of Hong Kong Institute of Certified Public Accountants (HKICPA). He has years of experience in teaching the HKICPA Qualification Program in Module A Financial Reporting and Module B Corporate Finance.

Morris Y. M. Kwok (MPA, CPA(HK), CPA(Canada), ACMA) is a part-time course coordinator at The Open University of Hong Kong. He graduated from The Hong
Kong Polytechnic University with a Master’s Degree in Professional Accounting. He is an Associate of the Hong Kong Institute of Certified Public Accountants (HKICPA),
Associate of the Chartered Institute of Management Accountants (CIMA) and Associate of Chartered Professional Accountants Canada.

Morris is well-versed in financial reporting, management accounting, Chinese accounting and auditing fields, as well as Hong Kong tax systems. He has extensive experience in acting as a consultant to multi-national companies. Besides that, he has conducted seminars of Hong Kong Financial Reporting Standards to secondary school teachers. He is the author of the course material Financial Reporting Environment of The Open University of Hong Kong. He is also the co-author of HKIAAT’s PBE Paper 1 Financial Reporting and 13 technical articles related to HKIAAT’s PBE Paper I Financial Reporting and HKIAAT’s AAT Paper 7 Financial Accounting.