124 / 166
3
主要會計政策
（續）
(f)
批租土地及樓宇
當一份租約同時包含土地及樓宇兩
項元素，房屋協會需要評估各項元
素擁有權之絕大部分風險與回報是
否已轉移至房屋協會，並據此將每
項元素分類為經營租約或融資租
約，除非清晰顯示兩項元素均屬經
營租約，則整項租約分類為經營租
約。尤其是，最低租金付款（包括
任何一次性預付款）須根據有關批
租中土地及樓宇所佔租賃權益於租
期開始時之相關公平價值按比例分
配予土地及樓宇。
(g)
作出售用途的發展中物業
待建成後用作出售用途的發展中物
業乃以成本值及套現淨值的較低者
入賬。
發展中物業的成本包括可明確識別
之成本，包括土地收購成本、累計
發展、物料及供應品成本、工資和
已資本化之其他直接費用、及按合
理基準分配的經營費用和已資本化
之借貸成本。可變現淨值為估計售
價（根據當時市場情況）減去完成
交易之估計成本及於銷售物業時所
需產生之估計成本。
(h)
樓宇存貨
樓宇存貨乃持作出售的物業，以成
本值及可套現淨值的較低者入賬。
3 Significant accounting policies
(continued)
(f) Leasehold land and buildings
When a lease includes both land and building elements, the
Housing Society assesses the classification of each element as
a finance lease or an operating lease separately based on the
assessment as to whether substantially all the risks and
rewards incidental to ownership of each element have been
transferred to the Housing Society, unless it is clear that both
elements are operating leases, in which case the entire lease is
classified as an operating lease. Specifically, the minimum
lease payments (including any lump-sum upfront payments)
are allocated between the land and the building elements in
proportion to the relative fair values of the leasehold interests
in the land element and building element of the lease at the
inception of the lease.
(g) Properties under development for sale
Properties under development for sale in the ordinary course
of business are stated at the lower of cost and net realisable
value.
The cost of properties under development for sale comprises
specifically identified cost, including the acquisition cost of
land, aggregate cost of development, materials and supplies,
wages and other direct expenses capitalised, and an
appropriate proportion of overheads and borrowing costs
capitalised. Net realisable value represents the estimated
selling price, based on prevailing market conditions, less
estimated costs of completion and costs to be incurred in
selling the property.
(h) Housing inventories
Housing inventories represent completed properties held for
sale and are stated at the lower of cost and net realisable value.
Hong Kong Housing Society Annual Report 2016
120
Notes to the Financial Statements
財務報表附註
FINANCIAL STATEMENTS
財務報表