Page 61 -

Notes to the Consolidated Financial Statements

31st March 2018

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

2.1 Basis of preparation (Continued)

(a) The following amended standards are mandatory for the financial year beginning 1st April
2017:

HKAS 7 (Amendment) Disclosure initiative
HKAS 12 (Amendment) Recognition of deferred tax assets for unrealised losses
HKFRS 12 (Amendment) Annual improvement to HKFRS 2014-2016 cycle

The adoption of these 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 2017 and
have not been early adopted:

Effective for
accounting period
beginning
on or after
HKAS 28 (Amendment) Investments in associates and joint ventures 1st January 2019
HKAS 40 (Amendment) Transfer of investment property 1st January 2018
HKFRS 1 and HKAS 28 Annual improvements to HKFRS 2014-2016 cycle 1st January 2018
(Amendments)
HKFRS 2 (Amendments) Classification and measurement of share-based 1st January 2018
payment transactions
HKFRS 4 (Amendments) Applying HKFRS 9 financial instruments with 1st January 2018
HKFRS 4 insurance contracts
HKFRS 9 Financial instruments 1st January 2018
HKFRS 9 (Amendment) Prepayment features with negative compensation 1st January 2019
HKFRS 10 and HKAS 28 Sale or contribution of assets between an investor To be determined
(Amendments) and its associate and joint venture
HKFRS 15 Revenue from contracts with customers 1st January 2018
HKFRS 15 (Amendment) Clarifications to HKFRS 15 1st January 2018
HKFRS 16 Leases 1st January 2019
HKFRS 17 Insurance contracts 1st January 2021
HK(IFRIC)-Int22 Foreign currency transactions and 1st January 2018
advance consideration
HK(IFRIC)-Int23 Uncertainty over income tax treatments 1st January 2019
Annual improvements Annual improvements to HKFRS 2015-2017 cycle 1st January 2019
projects

ALCO HOLDINGS LIMITED ANNUAL REPORT 2018 59