RAS-1995 — Page 32

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 ACCOUNTS

## FOR THE YEAR ENDED 31 DECEMBER 1996

(Expressed in Hong Kong Dollars)

### (1) ACCOUNTING POLICIES

(a) Subscriptions

Annual subscription income is accounted for as it is received, except that amounts received from new members joining after 31 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 or purchases other items for resale, the stock of such items 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.

XXXI

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# ROYAL ASIATIC SOCIETY-HONG KONG ## BRANCH NOTES TO ACCOUNTS ## FOR THE YEAR ENDED 31 DECEMBER 1996 (Expressed in Hong Kong Dollars) ### (1) ACCOUNTING POLICIES (a) Subscriptions Annual subscription income is accounted for as it is received, except that amounts received from new members joining after 31 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 and stocks As and when the Society commissions other publications or purchases other items for resale, the stock of such items 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. XXXI

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ROYAL ASIATIC SOCIETY-HONG KONG BRANCH NOTES TO ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 1996 (Expressed in Hong Kong Dollars) (1) ACCOUNTING POLICIES (a) Subscriptions Annual subscription income is accounted for as it is received, except that amounts received from new members joining after 31 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 and stocks As and when the Society commissions other publications or purchases other items for resale, the stock of such items 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. XXXI

2026-05-13 08:05:04 · Baseline

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ROYAL ASIATIC SOCIETY-HONG KONG

BRANCH NOTES TO ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 1996