RAS-1994 — Page 20

RASHKB Journal 皇家亞洲學會香港分會學刊 All AI Reviewed

ROYAL ASIATIC SOCIETY - HONG KONG BRANCH

NOTES TO THE ACCOUNTS

YEAR ENDED 31ST DECEMBER 1994

1. ACCOUNTING POLICIES

(a) Subscriptions

Annual subscription income is accounted for as it is received, except that amounts received from new members joining after 31st October in any year are carried forward into the following year.

Income relating to life memberships is taken into account in five equal instalments, commencing with the year in which it is received.

(b) The Society's journal

Provision is made each year for the estimated cost of printing the journal published for the previous year. Only those members who have paid their subscriptions in full in any year are entitled to receive the previous year's journal. No value is attributed to journals remaining in stock at the balance sheet date.

As and when the Society commissions other publications, the stock of such publications is carried at net cost to the Society, less sales proceeds received, less provision to reduce the balance to estimated net realisable value.

(d) Purchase of books

The cost of books purchased for the Society's library is written off in the year in which it is incurred.

(e) Depreciation of fixed assets

Fixed assets, such as the Society's photocopier and other equipment are capitalised in the balance sheet. Depreciation is provided so as to write off the cost of these assets over their estimated lives of four years.

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ROYAL ASIATIC SOCIETY - HONG KONG BRANCH NOTES TO THE ACCOUNTS YEAR ENDED 31ST DECEMBER 1994 1. ACCOUNTING POLICIES (a) Subscriptions Annual subscription income is accounted for as it is received, except that amounts received from new members joining after 31st October in any year are carried forward into the following year. Income relating to life memberships is taken into account in five equal instalments, commencing with the year in which it is received. (b) The Society's journal Provision is made each year for the estimated cost of printing the journal published for the previous year. Only those members who have paid their subscriptions in full in any year are entitled to receive the previous year's journal. No value is attributed to journals remaining in stock at the balance sheet date. (c) Other publications As and when the Society commissions other publications, the stock of such publications is carried at net cost to the Society, less sales proceeds received, less provision to reduce the balance to estimated net realisable value. (d) Purchase of books The cost of books purchased for the Society's library is written off in the year in which it is incurred. (e) Depreciation of fixed assets Fixed assets, such as the Society's photocopier and other equipment are capitalised in the balance sheet. Depreciation is provided so as to write off the cost of these assets over their estimated lives of four years. XIX

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ROYALASIATICSOCIETY-HONG KONG BRANCH NOTES TO THE ACCOUNTS YEAR ENDED31STDECEMBER 1994 1. ACCOUNTING POLICIES (a) Subscriptions Annual subscription income is accounted for as it is received, except that amounts received from new members Joining after 31st October in any year are carried forward into the following year. Income relating to life memberships is taken into account in five equal instalments, commencing with the year in which it is received. (b) The Society's journal Provision is made each year for the estimated cost of printing the journal published for the previous year. Only those members who have paid theu subscriptions in full in any year are entitled to receive the previous year's journal. No value is attributed to journals remaining in stock at the balance sheet date. (e) Other publications As and when the Society commissions other publications, the stock of such publications is carried at net cost to the Society, less sales proceeds received, less provision to reduce the balance to estimated net realisable value. (d) Purchase of books The cost of books purchased for the Society's library is written off in the year in which it is incurred. (e) Depreciation of fixed assets Fixed assets, such as the Society's photocopier and other equip- ment are capitalised in the balance sheet. Depreciation is pro- vided so as to write off the cost of these assets over their esti- mated lives of four years. XIX

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ROYALASIATICSOCIETY-HONG KONG BRANCH

NOTES TO THE ACCOUNTS

YEAR ENDED31STDECEMBER 1994

1. ACCOUNTING POLICIES

(a) Subscriptions

Annual subscription income is accounted for as it is received, except that amounts received from new members Joining after 31st October in any year are carried forward into the following

year.

Income relating to life memberships is taken into account in five equal instalments, commencing with the year in which it is received.

(b) The Society's journal

Provision is made each year for the estimated cost of printing the journal published for the previous year. Only those members who have paid theu subscriptions in full in any year are entitled to receive the previous year's journal. No value is attributed to journals remaining in stock at the balance sheet date.

(e) Other publications

(d) Purchase of books

The cost of books purchased for the Society's library is written off in the year in which it is incurred.

(e) Depreciation of fixed assets

Fixed assets, such as the Society's photocopier and other equip- ment are capitalised in the balance sheet. Depreciation is pro- vided so as to write off the cost of these assets over their esti- mated lives of four years.

RAS-1994 — Page 20

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