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External sources (not reviewed)

As a responsible adult, I would not support a scheme which is unfair to our future generation simply to win compliment today.

When financial assets are recognised initially, they are measured at fair value plus transaction costs, except in the case of financial assets recorded at fair value through profit or loss.

After initial recognition at cost investment properties are carried at fair value, representing open market value determined at each reporting date by external valuers.

[...] grant relates to an asset, the fair value is [...] [...]

When the fair value of unlisted equity securities cannot be reliably measured because (a) the variability in the range of reasonable fair value estimates is significant for that investment or (b) the probabilities of the various estimates within the range cannot be reasonably assessed and used in estimating fair value, such securities are stated at cost less any impairment losses.

[...] [...] earnings method in forming his opinion on [...]

Based on the abovementioned basis, the Directors advise us that, in calculation of the consideration of the Fushun Shangma Acquisition, they have considered and made reference to (i) the prospect of the iron ore industry in the PRC, market development and government policies as discussedinthesectionheaded‘‘Reasons for entering into the Equity Transfer Agreement’’ in the Letter from the Board as well as the trend of iron ore concentrate selling price of the Group in the past year; (ii) in assessing the size and quality of Fushun Shangma’s assets, reference was made to transactions of selected companies listed on the Shanghai Stock Exchange in order to assess the fair value of the mining rights of Fushun Shangma, as well as the book value of the other assets and liabilities of Fushun Shangma.

Disclosure was made, in the accounts, of all matters necessary for the financial statements to present fairly the results of the transactions in the period.

Furthermore, it had planned to engage the services of an independent firm of property consultants to undertake a revaluation exercise by the end of 2008 that would help it to determine the fair value of all its land and buildings, which would be reflected under IPSAS.

Valuation techniques include reference to most recent market prices used by knowledgeable and willingness parties, reference to current fair value of other financial instrument with similar nature, discounted cash flow method and option valuation models.

[...] [...] equitable principles or the basis of ex aequo [...]

The fair value changes in financial instruments and foreign exchange differences will follow the Relevant Principles.

Based on IAS 39 - “Financial Instruments: Recognition and Measurement” ratified by the FSC, when the decrease in fair value of an available-for-sale financial asset has been recognized as other comprehensive income and when there is objective evidence of asset impairment even if the financial asset has not been derecognized, the accumulated net loss that has been recognized as other comprehensive income should be reclassified from equity to earnings.

In addition, (a) in the event of any proposed change in shareholder(s) of Alliance BMP, it shall notify the Company in writing and obtain the Company’s prior written consent; and (b) in the event of any proposed change in shareholder(s) of the Company, it shall notify Alliance BMP and if a competitor of Alliance BMP acquires control of the Company, Alliance BMP may have an option to sell to the Company its capital contribution to GP Corp. or to purchase the Company’s capital contribution to GP Corp. at fair market value.

Trade and other payables are initially recognised at fair value and subsequently stated at amortised cost unless the effect of discounting would be immaterial, in which case they are stated at cost.

(3) The Fair Value Of A Fixed Asset Acquired Through Finance Lease, if no option to purchase, will be depreciated on a straight-line basis over the shorter of the lease term and its useful life as set out in paragraph (2).

As regards the Administration's view that it would not be a reasonable use of limited public funds to grant legal aid for disputes arising from investment in high-risk financial products, Mr HO pointed out that many disputes in derivative products involved misselling, misrepresentation or even fraud and it would be unfair if consumer investors who had been misled into purchasing such products did not have access to legal aid to seek redress through the Court.

[...] [...] value of an asset will not be reduced [...] [...]

If any question as aforesaid shall arise in respect of the Chairman such question shall be decided by a resolution of the Directors (for which purpose the Chairman shall not be counted in the quorum and shall not vote thereon) and such resolution shall be final and conclusive except in a case where the nature or extent of the interest of the Chairman or his associates as known to him has not been fairly disclosed to the other Directors.

Segment results form the basis of measurement used for assessing segment performance and represent profit or loss before bank interest income, provision/(reversal of provision) on inventories, fair value adjustment of investment properties and investment properties under development, finance costs, income tax and items not specifically attributed to individual segments, such as unallocated head office and corporate expenses.

Changes in fair values are recorded in the income statement as part of a valuation gain or loss.

When determining the inputs into the valuation techniques used priority is given to publicly available prices from independent sources when available, but overall the source of pricing is chosen with the objective of arriving at a fair value measurement which reflects the price at which an orderly transaction would take place between market participants on the measurement date.

This article provides an analysis on the main theoretical principles and the regulation of fair value accounting in China, how to improve the current fair value accounting practice, and how to prevent the related audit risk.

The audit was conducted primarily to enable the Board to form an opinion as to whether the financial statements presented fairly the financial position of UNRWA as at 31 December 2009 and the results of its operations and cash flows for the biennium then ended, in accordance with the United Nations system accounting standards.

Some candidates are removed not because they are bad people or because they are not professionally trained, but simply because their perceptions may not be impartial, which could have an impact on the case.

[...] [...] where the nature or extent of the interest [...] [...]

An additional expense is recognized for any modification which increases the total fair value of the share-based payment arrangement, or is otherwise beneficial to the employee as measured at the date of the modification.

Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received is recognised directly in equity and attributed to owners of the Company.

[...] [...] conclusive except in a case where the nature or extent of [...] [...]