Hong Kong Financial Reporting Standards Update 2019

Download Hong Kong Financial Reporting Standards Update 2019

Hong kong financial reporting standards update 2019 download free. Hong Kong Financial Reporting Standards Update Section I. New and amended Standards and Interpretations issued that are applicable to accounting periods beginning on or after 1 January Standards affected New standard and amendments relate to Members' Handbook Annual Improvements Project HKFRS 1 and HKAS 28 Annual Improvements Cycle.

New and amended Standards, Interpretations and Framework issued that are effec tive subsequent to December year -end, but may be adopted early Standards affected New standard and amendments relate to Members' Handbook Effective date HKFRS 3 Definition of a File Size: 23KB.

Hong Kong Financial Reporting Standards Update Section I. New and amended Standards and Interpretations issued that are applicable to accounting periods beginning on or after 1 January Standards affected New standard and amendments relate to Members' Handbook Annual Improvements Project Annual Improvements Cycle (amendments).

Hong Kong Financial Reporting Standards Update Section I. New and amended Standards and Interpretations issued that are applicable to December year-end Effective date HKFRS 1 and HKAS 27 Amendments Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate Accounting periods beginning on or after: 1 January (HKAS 27).

Update No. Accounting periods beginning on or after 1 January HK(IFRIC)-Int 23 Uncertainty over Income Tax Treatments (new interpretation) Update No. Accounting periods beginning on or after 1 January HKFRS 10 and HKAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (amendments) Update No.

A date to be determined by the IASB. A guide for companies listed on the Main Board of The Stock Exchange of Hong Kong Limited, which are required to prepare their annual financial reports. Keywords: Illustrative Financial Statements; annual financial reporting; HKFRS Created Date: 6/17/ AM. The Financial Reporting Council has a strong governance structure and an embracing culture which embodies our core values; UPHOLDING THE QUALITY OF FINANCIAL REPORTING OF LISTED ENTITIES IN HONG KONG Annual Report VIEW PDF.

eNews enews_Dec_ VIEW PDF. Hong Kong Tax Alert - Issue 3, March With the looming tax compliance season for the /19 year of assessment, it is a good time to reflect on the impact of the recent developments in Hong Kong tax law.

organised by SCAAto update the new and amended Hong Kong Financial Reporting Standards (HKFRS) with support of an updated set of Sample Financial Statements for Sample Financial Statements shared in the e-seminar (updated to26 March. Hong Kong Financial Reporting Standards.

KPMG 8. th. Floor, Prince’s Building 10 Chater Road Central, Hong Kong rd. Floor, Hysan Place Hennessy Road Causeway Bay, Hong Kong Telephone () Telefax () conclusions, starting from January. Hong Kong Financial Reporting Standards - Illustrative Annual Financial Statements These financial statements illustrate the presentation and disclosure requirements of HKFRSs for the year ended 31 December issued by a Hong Kong listed company.

Deloitte Accounting Focus (in Simplified Chinese). Hong Kong Financial Reporting Standards (HKFRS) have been fully converged with IFRS for annual reporting periods commencing from 1 January For a fuller description of the reporting requirements within the Hong Kong Special Administrative Region of the People’s Republic of China (Hong Kong), see the jurisdictional profile.

Standards are now in Portuguese. Provision of the GRI Standards has been expanded to 12 languages, following publication of the Portuguese version. The new translation will enable us to do more to support reporting organizations and stakeholders in Brazil, Portugal and other countries where Portuguese is an official language. HKEx has published a guidance letter (GL) for new listing applicants in the following areas on changes of accounting standards or policies, and adoption of accounting standards other than.

Hong Kong's network for tax information exchange has been expanded since the Convention on Mutual Administrative Assistance in Tax Matters came into force in Hong Kong on 1 September Consequently, the Inland Revenue (Amendment) (No. 2) Ordinance increased the number of reportable jurisdictions from 75 to with effect from 1. The standard generally requires biological assets to be measured at fair value less costs to sell. Effective for interim and annual financial statements relating to fiscal years beginning on or after January 1,earlier application is permitted.

The amendments are effective for annual periods beginning on or after January 1, Its Financial Reporting Standards Committee is responsible for establishing financial reporting standards in Hong Kong. Hong Kong Financial Reporting Standards (including Interpretations) were converged with International Financial Reporting Standards (IFRSs) with effect from 1 Januaryexcept for some minor differences. Guides to HKFRS financial statements Guides to HKFRS financial statements This page includes example HKFRS financial statements that may be required for companies listed on the Main Board of the Stock Exchange of Hong Kong Limited.

19 Sep Lease modifications – ten comprehensive examples. 15 Jul Lease modifications – extending the lease term. 21 May Two-tiered profits tax rates regime - Accounting implications. 16 May Hong Kong Financial Reporting Standards — Illustrative Financial Statements 06. 5 See our 3 July client alert “Hong Kong Regulatory Update — July ” 6 See our 3 July client alert “ Hong Kong Regulatory Update — July ” 7 By contrast, the annual report and corporate governance report are required to be published within four months of financial.

Consistent with international practices to help financial institutions in light of the COVID situation, IRAS is automatically extending the CRS filing deadline for Reporting Year to 31 Aug We encourage Reporting SGFIs to submit their CRS return (s) by to allow sufficient time to resolve any unexpected issues.

Not-for-profit financial reporting for June September ; Regulatory focus areas – financial reporting in a COVID environment July (Updated August ) Key actions, developments and dates - monthly summary June ; Revised financial reporting.

As from 1 October (“ Effective Date ”), the amendments to the Financial Reporting Council Ordinance (Cap. ) (“ FRCO ”) take effect and the Financial Reporting Council (“ FRC ”) becomes Hong Kong’s independent regulator of listed entity auditors. OECD Common Reporting Standard enforcement action Transition into business as usual Regulatory change • FATCA and CRS XML reports generated in relevant schema for each reporting Financial Institution.

Hong Kong × × ×. Hong Kong’s highest court on Monday ruled the city's government had the right to invoke colonial-era emergency powers last year to ban the wearing of. Hong Kong Regulatory Update – October Hong Kong Regulatory Update - July Skadden's Insights: New HKEx Rules Spur Bumper Year in Hong Kong.

For the first 10 months ofthe value of total retail sales fell 27%, and % by volume, from the corresponding period.

Hong Kong leader Carrie Lam on Tuesday again urged residents to. IAS 29, ‘Financial reporting in hyper-inflationary economies’, is applicable for entities that have the Zimbabwe currency (now also known as the Zimbabwe dollar) as their functional currency for periods ending after 1 July The standard should be applied as if.

The Accounting Alerts cover changes to New Zealand financial reporting requirements and developments in International Financial Reporting Standards, including exposure drafts and discussion papers. Quarterly update - June For-profit entities including Auckland, Bangkok, Beijing, Hanoi, Hong Kong, Jakarta, Kuala Lumpur, Manila. Hong Kong Financial Reports - Find out more about the Hong Kong financial reports, news and Hong Kong Stock Exchange announcements, and link to Group Investor Relations website.

Easily manage payroll, tax reporting, and MPF. Wealth Management Services. Straight2Bank. 30 August Standard Chartered Bank (Hong Kong) Limited. The IFRS are a set of global accounting standards that apply to all financial reporting, quality control, and auditing standards relating to all profit-oriented entities (although some entity types can elect to apply a different set of reporting standards).

However, in Hong Kong, certain types of entities, such as private entities and small-to. James Lau, Hong Kong’s Secretary for Financial Services and the Treasury, congratulates the winning companies during his opening address at the Best Corporate Governance Awards ceremony. Our practical guide to IFRS Standards. Telling your story. In such unprecedented times, communicating effectively has never been more important for companies – telling their own story in their financial reports, explaining the judgements made and the estimates used in making them.

• Impact of recent economic substance laws from a Hong Kong perspective. Issue 92 - 21 March • Hong Kong removed from EU watchlist on tax cooperation. Issue 91 - 13 March • Passage of Legislation on tax treatment of financial instrument and tax exemption for funds. Issue 90 - 27 February • Hong Kong /20 Budget Highlights.

Zurich/Basel, 28 February – The Annual Report provides comprehensive and detailed information on the firm, its strategy, business, governance, financial performance and risk, treasury and capital management, as well as on the regulatory and operating environment for the financial year In JanuaryHong Kong’s representatives joined a tripartite meeting among mainland China, Hong Kong, and Macau to foster cooperation on AML/CFT.

Hong Kong is also an APEC economy. Macau. Overview: Macau’s CT cooperation with the United States included information sharing. The Police Intervention Tactical Unit (UTIP), which falls under. HONG KONG, Dec 2 (Reuters) - Joshua Wong, 24, one of Hong Kong’s most prominent democracy activists, was jailed on Wednesday for /2 months for his role in an unlawful anti-government rally.

Changes to the financial reporting framework in Singapore (December ) Published on: The purpose of this publication is to provide a roundup of the recent changes in the Singapore financial reporting framework which are important to accounting and audit professionals. The International Financial Reporting Standards Foundation is a not-for-profit corporation incorporated in the State of Delaware, United States of America, with the Delaware Division of Companies (file no: ), and is registered as an overseas company in England and Wales (reg no: FC).

The Standard is Hong Kong's biggest circulation free English daily newspaper. From the paper format to the latest digital format, it delivers the most updated news to readers round the clock, all. Amid political protests in Hong Kong, and the trade war, trading volumes dropped sharply inwith the average daily turnover of equity products falling 18% in value compared with the year before.

The Hong Kong District Council election, the first poll since the beginning of the protests, had been billed as a "referendum" on the government. More than million votes were cast for a turnout rate of %, up from million and 47% from the previous election. The surge comes amid a prolonged recession in the financial hub since ’s pro-democracy protests, with the Hong Kong economy shrinking % .

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