NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
32
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NON-ADJUSTING EVENTS AFTER THE REPORTING PERIOD
After the end of the reporting period, the directors proposed a final dividend. Further details are disclosed in note 10.
POSSIBLE IMPACT OF AMENDMENTS, NEW STANDARDS AND INTERPRETATIONS ISSUED BUT NOT YET EFFECTIVE FOR THE YEAR ENDED 31 DECEMBER 2017
Up to the date of issue of these financial statements, the HKICPA has issued a number of amendments, new standards and interpretations which are not yet effective for the year ended 31 December 2017 and which have not been adopted in these financial statements. These include the following which may be relevant to the Group.
Effective for
accounting periods beginning on or after
Amendments to HKAS 40, Investment property: Transfers of investment property
HKFRS 9, Financial instruments
HKFRS 15, Revenue from contracts with customers
HKFRS 16, Leases
1 January 2018
1 January 2018
1 January 2018
1 January 2019
The Group is in the process of making an assessment of what the impact of these amendments, new standards and interpretations is expected to be in the period of initial application. So far the Group has identified some aspects of the new standards which may have a significant impact on the consolidated financial statements. Further details of the expected impacts are discussed below. While the assessment has been substantially completed for HKFRS 9 and HKFRS 15, the actual impacts upon the initial adoption of the standards may differ as the assessment completed to date is based on the information currently available to the Group, and further impacts may be identified before the standards are initially applied in the Group's interim financial report for the six months ending 30 June 2018. The Group may also change its accounting policy elections, including the transition options, until the standards are initially applied in that financial report.
Hong Kong Ferry (Holdings) Company Limited Annual Report 2017
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