PDF《WEST CHINA CEMENT LIMITED 中国西部水泥有限公司》

2016 on January 25,

2011 (see Note 13(c)). Accordingly, the directors believe that the Group will continue as a going concern and consequently have prepared the consolidated financial statements on a going concern basis. Changes in accounting policy and disclosures (a) New and amended standards adopted by the Group The following new standards and amendments to standards are mandatory for the first time for the financial year beginning January 1, 2010. ? International Accounting Standard ( IAS )

17 (amendment), '

Leases'

, deletes specific guidance regarding classification of leases of land, so as to eliminate inconsistency with the general guidance on lease classification. As a result, leases of land should be classified as either finance or operating lease using the general principles of IAS 17, i.e. whether the lease transfers substantially all the risks and rewards incidental to ownership of an asset to the lessee. Prior to the amendment, land interest which title is not expected to pass to the Group by the end of the lease term was classified as operating lease under Leasehold land and land use rights , and amortized over the lease term. It is not considered to have any impact on the Group'

s financial statements. ? IAS

36 (amendment), '

Impairment of assets'

, effective January 1, 2010. The amendment clarifies that the largest cash-generating unit (or group of units) to which goodwill should be allocated for the purposes of impairment testing is an operating segment, as defined by paragraph

5 of IFRS, '

Operating segments'

(that is, before the aggregation of segments with similar economic characteristics). It is not expected to have any impact on the Group'

s financial statements. C

6 C ? Second improvements to International Financial Reporting Standards (2009) were issued in April

2009 by International Accounting Standard Board ( IASB ). All improvements are effective in the financial year of 2010. These improvements do not have any significant impact on the Group'

s financial statements. (b) New and amended standards, and interpretations mandatory for the first time for the financial year beginning January 1,

2010 but not currently relevant to the Group (although they may affect the accounting for future transactions and events) ? International Financial Reporting Interpretations Committee Interpretation ( IFRIC ) 17, '

Distribution of non-cash assets to owners'

(effective on or after July 1, 2009). The interpretation was published in November 2008. This interpretation provides guidance on accounting for arrangements whereby an entity distributes non-cash assets to shareholders either as a distribution of reserves or as dividends. IFRS

5 has also been amended to require that assets are classified as held for distribution only when they are available for distribution in their present condition and the distribution is highly probable. ? IFRIC 18, '

Transfers of assets from customers'

, effective for transfer of assets received on or after July 1, 2009. This interpretation clarifies the requirements of IFRSs for agreements in which an entity receives from a customer an item of property, plant and equipment that the entity must then use either to connect the customer to a network or to provide the customer with ongoing access to a supply of goods or services (such as a supply of electricity, gas or water). In some cases, the entity receives cash from a customer that must be used only to acquire or construct the item of property, plant, and equipment in order to connect the customer to a network or provide the customer with ongoing access to a supply of goods or services (or to do both). ? IFRIC 9, '