手册大全ihg洲际酒店集团财务手册.docx
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手册大全ihg洲际酒店集团财务手册.docx
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手册大全ihg洲际酒店集团财务手册
CORPORATEFINANCEMANUAL
ThisupdatedmanualfocusesontheIFRSaccountingpoliciesrelevanttoIHG.Guidanceandinterpretationisalsoprovidedonthekeypolicies.
USGAAPisnotcoveredasthetechnicalUSGAAPissuesarealldealtwithbytheController’sGroup.
Section
Contents
1
General
2
Updatesandresolvingqueries
3
Accountingpolicies
4
Policyapplication
Section
Description
Page
1
general
5
2
updatesandresolvingqueries
7
Section
Description
Page
3.1
basisofaccounting
10
3.2
consolidation
11
3.2.1
subsidiaryundertakings
11
3.2.2
minorityinterest
12
3.2.3
associatesandjointventures
13
3.2.4
offbalancesheetitems
14
3.2.5
acquisitionofsubsidiaryundertakings
14
3.2.6
disposalsofsubsidiaryundertakings
15
3.2.7
translationofoverseassubsidiaries
15
3.2.8
consolidationadjustments
16
3.3
foreigncurrencies
17
3.4
priorperiodadjustments
18
3.5
postbalancesheetevents
19
3.6
tangiblefixedassets
20
3.6.1
tangiblefixedassets
20
3.6.2
capitalexpenditureandinitialmeasurement
21
3.6.3
capitalisationofownlabour
22
3.6.4
depreciation
22
3.6.5
disposal/saleoffixedassets
23
3.6.6
licences
24
3.6.7
impairmentreviews
24
3.7
intangibleassets
25
3.7.1
softwarecosts
25
3.7.2
researchanddevelopment
26
3.7.3
inducementpayments
26
3.7.4
managementcontracts
27
3.8
associates,jointventuresandotherequityinvestments
28
3.8.1
fixedassetinvestments
28
3.8.2
associatesandjointventures
28
3.8.3
otherequityinvestments
29
3.9
othernon-currentfinancialassets
30
3.10
inventory
31
3.11
cashandcashequivalents
32
3.11.1
cashequivalents
32
3.12
provisionsforliabilities
33
3.13
contingencies
34
3.14
revenuerecognition
35
3.15
revenueexpenditure
36
3.15.1
researchanddevelopment
36
3.15.2
repairsandmaintenance
36
3.15.3
advertising,sponsorshipandpromotions
37
3.15.4
pre-openingexpense
37
3.16
pensions,holidaypayandemployeebenefits
38
3.16.1
definedbenefitpensionschemecosts
38
3.16.2
definedcontributionpensionschemecosts
38
3.16.3
Holiday/vacationpay/longtermserviceawards
38
3.16.4
Severance/termination/redundancypayments
39
3.17
sharebasedpayments
40
3.18
leases
41
3.18.1
financeleases
41
3.17.2
operatingleases
41
3.18.3
otherleaseissues
41
3.19
segmentalreporting
42
3.20
assetsheldforsaleanddiscontinuedoperations
44
3.20.1
assetsheldforsale
44
3.20.2
discontinuedoperations
44
Section
Description
Page
4.1
identificationofsubsidiaries
46
4.1.1
principlesanddefinitions
46
4.2
acquisitionsanddisposals
47
4.2.1
principlesanddefinitions
47
4.2.2
acquisitions
48
4.2.3
disposals
53
4.2.4
keyinformationtobegatheredandretained
53
4.3
foreigncurrencies
57
4.3.1
principlesanddefinitions
57
4.3.2
approachtoforeigncurrencytranslation
58
4.4
tangiblefixedassets
59
4.4.1
principlesanddefinitions
59
4.4.2
carryingvalue
59
4.4.3
categorisationoftangiblefixedassets
60
4.4.4
properties
61
4.4.5
fixtures,fittingsandequipment
62
4.4.6
paymentsonaccountandassetsinthecourseofconstruction
62
4.5
capitalandrevenueexpenditure
63
4.5.1
principlesanddefinitions
63
4.5.2
initialmeasurement
64
4.5.3
capitalretirements
65
4.6
depreciation
66
4.6.1
principlesanddefinitions
66
4.6.2
timingofdepreciationanddepreciationbase
66
4.6.3
accelerateddepreciation
67
4.6.4
depreciationrates
68
4.6.5
standarddepreciationassumptions
70
4.6.6
illustrationofassetsandassetcomponents
71
4.7
sales/disposalsoffixedassets
75
4.7.1
principlesanddefinitions
75
4.7.2
disclosure
76
4.7.3
accountingtreatment
76
4.8
impairmentoffixedassetsandgoodwill
77
4.8.1
overview
77
4.8.2
keyconcepts
77
4.8.3
impairmentreview
79
4.8.4
allocationofimpairmentlosses
80
4.8.5
subsequentmonitoringofcashflows
80
4.9
associates,jointventuresandotherequityinvestments
81
4.9.1
principlesanddefinitions
81
4.9.2
consolidatedaccounts
83
4.9.3
checklistforqualificationofaninvestmentasanassociate
84
4.9.4
disclosurerequiredinconsolidatedfinancialstatements
85
4.10
non-currentfinancialassets
86
4.10.1
principlesanddefinitions
86
4.10.2
accounting
86
4.11
provisionsforliabilitiesandcharges
87
4.11.1
definition
87
4.11.2
recognitionofprovision
87
4.11.3
measurementofprovision
87
4.11.4
futureoperatinglosses
88
4.11.5
onerouscontracts
88
4.11.6
restructuringcosts
88
4.11.7
disclosures
89
4.12
contingencies
90
4.12.1
principlesanddefinitions
90
4.12.2
normaluncertainties
90
4.12.3
contingentassets
91
4.12.4
identificationofcontingentliabilities
91
4.12.5
accountingtreatmentofcontingentliabilities
92
4.13
revenuerecognition
93
4.13.1
principlesanddefinitions
93
4.13.2
treatmentoffranchisefees
93
4.13.3
treatmentofmanagementfees
94
4.13.4
technicalservicefees
94
4.13.5
supplierincentivesandrebates
95
4.14
pensioncosts
96
4.14.1
principlesanddefinitions
96
4.14.2
groupincomestatement
97
4.14.3
balancesheetaccounts
97
4.14.4
disposalofasubsidiary
98
4.14.5
acquisitionofasubsidiary
98
4.15
leases
99
4.15.1
principlesanddefinitions
99
4.15.2
accountingforfinanceleases
100
4.15.3
operatingleases
102
4.15.4
saleandleasebacktransactions
102
4.15.5
leaseincentives
103
4.15.6
otherleaseissues
103
1.0General
A.Context
ThesystemoffinancialreportingwithinIHGisdesignedtoensurethattheGrouppublishesaccountinginformationinthepublicdomainwhichisconsistentandcomplieswithbestaccountingpractice.InordertoachievetheseobjectivesGroupaccountingpolicesandproceduresareestablishedwhichshouldbeconsistentlyappliedthroughouttheGroupforthepurposesofGroupreporting.Thesepoliciesandproceduresshouldalsobeappliedtoindividualentity'sfinancialstatementsunlesstodosowouldcontravenelocallegislationorstandards.
ThepreparationofaccountinginformationforreleaseintothepublicdomainisultimatelytheresponsibilityoftheIHGPLCdirectors.Itistheirresponsibilitytoreviewthisinformationandtoensurethatthefinancialstatementsgiveatrueandfairviewofthecompanyandcomplywithappropriatelegislation.QualitycontrolforaccountinginformationiseffectivelyachievedbythemainboarddelegatingtheresponsibilityforpreparingtheunderlyingfinancialstatementstotheFinanceDirector.UltimatelyitistheBoardwhichmustensurethatappropriatecontrolproceduresareadoptedinordertoachievethegroupobjectives.
InformationcontainedinthisManualisstrictlyconfidentialandforuseonlybyIHGGrouppersonnelandtheGroup'sprofessionaladvisers.ItisnottobedistributedorotherwisepublishedoutsidetheGroup.AnyexternaladvisersusingthemanualarenotpermittedtocopyanymaterialortoremovetheManualfromthepremises.
B.Control
Controlisexercisedatthreelevels,namely:
1.ControllersGroup(Global)
2.RegionalandFunctionalFinanceDirector(divisionallevel)
3.BusinessServiceCentres(globalanddivisional)
4.Projectmanagement
Atthecorporatelevel,informationsuppliedbydivisionsisconsolidatedintoaGrouptotalandreviewedforcomplianceagainstpublishedreportingstandards.Atthedivisionallevelcontrolisexercisedbymonitoringperformanceagainstspecificoperatingtargets.TheBSCsareresponsiblefortransactionprocessing.
C.Structure
FinancialcontrolandreportingrecognisestworelatedstructureswithintheGroup-themanagementstructureandthelegalstructure.
ThemanagementstructureisbasedontheGroup'soperatingdivisionsplusthosecompaniesnotfallingnaturallywithinadivision.Itlinkstothesegmentsusedforexternalreporting.
Thelegalstructurerepresentsthelegallyrecognisedentities(companiesandbranches)whichcomprisethetotalGroup.Forthesakeofconvenience,financialreportingisconcentratedintocertainreportingunits(components)thoughstillgreaterinnumberthandivisions.
2.0Updatesandresolvingqueries
To:
SeeDistribution
From:
RalphWheeler
Ref:
Date:
Cc:
Page:
1of3
PROCEDURESFORESTABLISHING/AMENDINGACCOUNTINGPOLICIES
DecisionRights
DecisionRightsforestablishingandamendingaccountingpoliciesresideswiththeController.
Whatisinscope?
Allaccountingpoliciesandinterpretations.
Atahighlevel,PoliciesincludealltheaccountingpoliciesfollowedinthepreparationoftheGroupFinancialstatements(IFRSandUSGAAP).AtamoredetailedleveltheControllerresponsibilityextendstoallinterpretationsofGrouppoliciesforspecificlocal/regionalapplication.
‘Interpretation’includes,asrequired,establishingtheaccountingforspecifictransactionsortypesoftransactiontoenableaconsistentglobalapproachtobefollowedwithintheboundariesofGrouppolicies.
Whatisnotinscope?
InsomecircumstanceslocalGAAPorstatutoryrequirementswillnecessitatevariationstoGrouppolicies.Intheseinstances,thoseresponsibleforthepreparationoflocalaccountsshouldagreeaninterpretationwiththelocalauditorsandensureaconsistentregionalapplication.TheControllerGroupshouldbeadvisedofallmaterialdeviationsandcanbeinvolvedinlocaldiscussionsiftechnicalsupportisrequired.
ThisdocumentdealsonlywithaccountingpoliciesandinterpretationsandnotwithissuesrelatedtoDelegationofAuthority,Charto
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