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Notes to the Consolidated Financial Statements

31st March 2017

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

2.1 Basis of preparation (Continued)

(a) The following new and amended standards are mandatory for the financial year beginning 1st
April 2016:

HKFRS 10 and HKFRS 12 and Investment Entities: Applying the Consolidation Exception
HKAS 28 (Amendments)
HKFRS 14 Regulatory Deferral Accounts
HKFRSs (Amendment) Annual Improvements 2012-2014 Cycle
HKAS 1 (Amendment) Financial Statements Presentation Regarding Materiality,
Aggregation and Subtotals
HKAS 16 and HKAS 38 Clarification of Acceptable Methods of Depreciation and
(Amendment) Amortisation

The adoption of these new and amended standards did not result in a significant impact on
the results and financial position of the Group.

(b) The new standards, amendments to standards and interpretations relevant to the Group
which have been issued, but not effective for the financial year beginning 1st April 2016 and
have not been early adopted:

Effective for
accounting period
beginning
on or after

HKAS 7 Disclosure Initiative 1st January 2017
(Amendment)
HKAS 12 Recognition of Deferred Tax Assets for 1st January 2017
(Amendment) Unrealised Losses
HKFRS 2 Classification and Measurement of 1st January 2018
(Amendment) Share-based Payment Transactions
HKFRS 10 and Sale or Contribution of Assets Between To be determined
HKAS 28 an Investor and its Associate or
(Amendment) Joint Venture
HKFRS 9 Financial Instruments 1st January 2018
HKFRS 15 Revenue from Contracts with Customers 1st January 2018
HKFRS 16 Leases 1st January 2019

ALCO HOLDINGS LIMITED ANNUAL REPORT 2017 51