Hong Kong Financial Reporting Standards for SMEs (2nd Edition) (e-book)

Section A Statement of Financial Position and Statement of Profit or Loss and Other Comprehensive Income

• Property, Plant and Equipment, and Impairment of Assets
• Investment Property
• Leases
• Borrowing Costs
• Government Grants and Other Government Assistance
• Non-current Assets Held for Sale and Discontinued Operations, and Inventories
• Intangible Assets
• Financial Instruments
• Provisions, Contingent Liabilities and Contingent Assets
• Adjustments – Changes in Accounting Policies and Estimates, Correction of Errors, and Events after the Reporting Period
• Income Taxes
• Revenue
• Employee Benefits
• Share-based Payment

Section B Statement of Cash Flows

• Statement of Cash Flows

Section C Disclosure

• Related Party Disclosures
• Fair Value Measurement

Section D Consolidated Financial Statements

• Revenue Principles of Consolidation
• Employee Benefits Accounting for Subsidiaries
• Accounting for Associates and Joint Arrangements
• Foreign Currency Translation

Section E Small and Medium-sized Entity Financial Reporting Framework and Financial Reporting Standard

• The SME-FRF and SME-FRS

Mr. Ng Po Hing Patrick

Mr. Ng is currently a Lecturer of the Department of Business, Hong Kong Institute of Vocational Education. Previously, he was a Lecturer of the Department of Accountancy, City University of Hong Kong.

Mr. Ng received a Bachelor of Arts Degree with First Class Honours (in Accounting, Finance & Economics) from the University of Essex and a Master of Philosophy (in Finance) from King’s College of the University of Cambridge. He is a Fellow of the Hong Kong Institute of Certified Public Accountants, a Fellow of the Association of Chartered Certified Accountants, and an Honorary Hong Kong Accounting Technician. He had served as a Board Member of Hong Kong Institute of Accredited Accounting Technicians from 1999 to 2003, the Editor of the Members’ Journal of ACCA (Hong Kong) from 1997 to 2005 and 2007 to 2009, and the Chief Editor of Accounting Personnel, the Journal of HKIAAT, from 1996 to 2006.

Mr. Ng is an accomplished and well-respected writer in the field of accounting and financial reporting. He has authored/co-authored twelve accounting textbooks entitled ‘‘Financial Accounting for Hong Kong’’, ‘‘HKIAAT Paper 1 Financial Accounting’’, ‘‘Introduction to Financial Accounting in Hong Kong’’, “Basic Cost Accounting in Hong Kong”, “New Senior Secondary BAFS Frank Woods’ Accounting Module Exam Practice 1”, ‘‘Financial Accounting’’, ‘‘Advanced Accounting’’, ‘‘HKAL – Principles of Accounts (Volume 1 & 2)’’, ‘‘HKIAAT Paper 7 Financial Accounting’’, “HKIAAT PBE Paper 1 “Financial Accounting”, ‘‘Examination Guide to ACCA Paper 13 (H) Financial Reporting Environment (Hong Kong)’’, ‘‘Accounting in Hong Kong: Regulatory Framework and Advanced Accounting Practice’’ and ‘‘Corporate Accounting – Business Combinations in Hong Kong’’.

Mr. Ng has published in total more than 65 articles on financial reporting and audit assurance disciplines, in international refereed journals, professional journals and refereed conference proceedings. He taught the Professional Stage of ACCA Examination Courses on Financial Reporting and Advanced Corporate Reporting Papers with the City University of Hong Kong for more than 11 years.

Mr. Ng lent his many years of practical experience in accounting and auditing and substantial teaching and research experience to the Wolters Kluwer’s loose-leaf publication ‘‘Hong Kong GAAP – A Practical Guide to Accounting Standards’’ in 1999. It was then published as a bound book and retitled ‘‘Hong Kong Master GAAP: A Master Guide to Financial Reporting Standards” which goes into the 16th Edition in 2021.

With Chinese Accounting Standards converging with International Financial Reporting Standards, Mr. Ng has extended his international knowledge of Financial Reporting Standards to another Wolters Kluwer’s publication, ‘‘China Master GAAP Guide’’, which was launched in 2004 and goes into the 12th Edition in 2022.