Technical Q&A, APlus

  		•  SME Financial Reporting Framework and Standard
     
  		• Qualifying entities with an overseas parent company (SME-FRF & SME-FRS)
     
  		• Qualifying entities for SME-FRF (SME-FRF & SME-FRS)
       
  		• Financial Reporting Standards
     
  		• New financial reporting standards to consider for preparing annual report for the year ended 31 December 2007 (HKFRS)
     
  		• New financial reporting standards to consider for preparing annual report for the year ended 31 December 2008 (HKFRS)
     
  		• Accounting treatment for non-monetary donations (Framework)
     
  		• First-time adoption of HKFRSs from SME-FRS (HKFRS 1)
     
  		• Guidance on implementing HKFRS 2 (HKFRS 2)
     
  		• Share options that are forfeited or lapse after the end of the vesting period (HKFRS 2)
     
  		• Scope of HKFRS 3 (HKFRS 3)
     
  		• Change of accounting policy from acquisition accounting to merger accounting (HKFRS 3/AG 5)
     
  		• New titles of financial statements (HKAS 1 (Revised))
     
  		• Enactment or substantive enactment of tax rates (HKAS 12)
     
  		• Deferred tax for a change in fair value on available-for-sale financial assets (HKAS 12)
     
  		• Utilization of revaluation surplus (HKAS 16)
     
  		• Calculation of relevant statutory entitlements under employment (amendment) ordinance (HKAS 19)
     
  		• Recognition of revenue arising from sale and repurchase agreement on an asset other than a financial asset (HKAS 18)
     
  		• Functional currency (HKAS 21)
     
  		• Identification of relatd party relationships for two parties subject to significant influence form the same source (HKAS 24)
     
  		• Application of "available for use" in paragraph 10 (HKAS 27)
     
  		• Definition of control in the preparation of consolidated financial statements (HKAS 27)
     
  		• Preparation of financial statements using equity method of accounting (HKAS 28)
     
  		• Classification of the liability and equity of a compound financial instrument (HKAS 32)
     
  		• Separation of convertible instruments (HKAS 32)
     
  		• Identifying an asset that may be impaired (HKAS 36)
     
  		• Determination of useful lives of intangible assets (HKAS 38)
     
  		• Fair value considerations (HKAS 39)
     
  		• Intra-group financial guarantees (HKAS 39)
     
  		• Early repayment clause as an embedded derivative (HKAS 39)
     
  		• Initial measurement of financial assets and financial liabilities: Transaction costs (HKAS 39)
     
  		• Derecognition of financial assets (HKAS 39)
     
  		• Separation of land and building components of investment property (HKAS 40)