Page 173 - Hang Lung Properties 2012 Annual Report

2 PRINCIPAL ACCOUNTING POLICIES (Continued)
(p) Financial guarantees issued, provisions and
contingent liabilities (Continued)
2. Other provisions and contingent liabilities (Continued)
Where it is not probable that an outflow of economic benefits will be
required, or the amount cannot be estimated reliably, the obligation
is disclosed as a contingent liability, unless the probability of outflow
of economic benefits is remote. Possible obligations, whose existence
will only be confirmed by the occurrence or non-occurrence of one or
more future events are also disclosed as contingent liabilities unless the
probability of outflow of economic benefits is remote.
(q) Revenue recognition
Revenue is measured at the fair value of the consideration received
or receivable. Provided it is probable that the economic benefits will
flow to the Group and the revenue and costs, if applicable, can be
measured reliably, revenue is recognized in profit or loss as follows:
1. Sale of properties
Revenue from sale of completed properties is recognized upon the
later of the signing of sale and purchase agreements or the issue of
occupation permit by the relevant government authorities, which is
taken to be the point in time when the risks and rewards of ownership
of the property have passed to the buyer.
2. Rental income
Rental income under operating leases is recognized on a straight
line basis over the terms of the respective leases, except where an
alternative basis is more representative of the pattern of benefits to be
derived from the use of the leased asset. Lease incentives granted are
recognized in profit or loss as an integral part of the aggregate net lease
payment receivable. Contingent rentals are recognized as income in
the accounting period in which they are earned.
3. Interest income
Interest income is recognized as it accrues using the effective
interest method.
4. Dividends
Dividends are recognized when the right to receive payment
is established.
2 主要會計政策（續）
(p) 已發出財務擔保、撥備及
或然負債（續）
2. 其他撥備及或然負債（續）
倘若不大可能涉及付出經濟利益，或無法
對有關數額作出可靠估計，則會將責任披
露為或然負債，惟付出經濟利益的可能性
極低時則除外。如果本集團的責任須視乎
某宗或多宗未來事件是否發生才能確定是
否存在，亦會披露為或然負債，但資源外
流的可能性極低則除外。
(q) 收入確認
收入按已收或應收款之代價之公平值計
算。於經濟利益可能會流入本集團，而收
入及成本（如適用）能可靠地計算時，收入
乃按以下方式於損益內確認：
1. 銷售物業
建成物業之銷售收入乃於簽訂買賣協議或
相關政府部門發出入伙紙（以較遲者為準）
時確認，其時該物業擁有權之風險及回報
已轉至買方。
2. 租金收入
營業租約所得租金收入及按個別租約之年
期以直線法確認，或按其他更能反映使用
租賃資產所產生利益模式的方式予以確
認。所給予之租賃獎勵按其作為組成應收
租賃淨付款總額之組成部分於損益中確
認。或然租金乃於賺取之會計期間內確認
為收入。
3. 利息收入
利息收入於產生時按實際利率法確認。
4. 股息
股息於收款權確立時確認。
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