Page 132 - One report AUCT2024_Eng

Part 3
Financial Statements
financial assets subsequently become credit-impaired when it is applied to the net carrying amount of the financial asset (net of the expected credit loss allowance).
Finance cost
Interest expense from financial liabilities at amortised cost is calculated using the effective interest method and recognised on an accrual basis.
4.2 Cash and cash equivalents
Cash and cash equivalents consist of cash in hand and at banks, and all highly liquid investments with an original maturity of three months or less and not subject to withdrawal restrictions.
4.3 Leasehold improvements, buildings and equipment and depreciation
Leasehold improvements, buildings and equipment are stated at cost less accumulated depreciation and allowance for loss on impairment of assets (if any).
Depreciation of leasehold improvements, buildings and equipment is calculated by reference to their costs on the straight-line basis over the following estimated useful lives:
Leasehold improvements
Buildings
Building improvements and facilities Furniture and fixtures
Office equipment
Motor vehicles
- Lease period - Lease period - Lease period - 5-10 years
- 5 years - 5 years
The average land lease period is between 2 years and 46 Depreciation is included in determining income.
No depreciation is provided on assets under installation.
years.
An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on disposal of an asset is included in profit or loss when the asset is derecognised.
132
Annual Registration Statement / Annual Report 2024
(Form 56-1 One Report)