HONG KONG GAAP Supplement: A Guide for the Preparation of Financial Statements


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HONG KONG GAAP Supplement:  A Guide for the Preparation of Financial Statements

Jul 2004
Paperback, 190 pp

The model financial statements of Hong Kong GAAP Limited are intended to address the presentation and disclosure requirements of Hong Kong Financial Reporting Standards and Interpretations, the Companies Ordinance and the Listing Rules. They also contain additional disclosures that are considered to be best practice, particularly where such disclosures are included in the illustrative examples provided with a specific Standard.

For the purposes of presenting the income statement and the statement of changes in equity, all of the alternatives allowed for by SSAP 1 Presentation of Financial Statements have been illustrated. Preparers should select the alternatives most appropriate to their circumstances.

Hong Kong GAAP Limited is assumed to be listed on the Main Board of the SEHK. For those enterprises listed on the Growth Enterprise Market, specific disclosure requirements are set out in the GEM Rules. These are largely consistent with the requirements of the Listing Rules and, for the user's convenience, cross-references to the GEM Rules have also been included in the Model Financial Statements and the Presentation and Disclosure Checklist.

Model Financial Statements and a Presentation and Disclosure Checklist to assist readers in ensuring compliance with all of the Standards and Interpretations as well as listing rule requirements in issue at 1st March 2004.

Readership: All professionals involved in the preparation and interpretation of financial information

Jurisdiction: Hong Kong