Annual Report 2020

81 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 綜合財務報表附註 FOR THE YEAR ENDED 31ST DECEMBER, 2020 截至二零二零年十二月三十一日止年度 ANNUAL REPORT 2020 年度報告 3. 綜合財務報表編製基準及主要會計政策 （續） 綜合財務報表編製基準 （續） 綜合財務報表於各報告期末按歷史成本基準編製， 詳情載於下文之會計政策。 歷史成本一般按交換貨品及服務代價之公平值釐 定。 公平值是指市場參與者之間在計量日進行的有序交 易中出售一項資產所收取的價格或轉移一項負債所 支付的價格，無論該價格是直接觀察到的結果還是 採用其他估值技術作出的估計。在對資產或負債的 公平值作出估計時，本集團考慮了市場參與者在計 量日為該資產或負債進行定價時將會考慮的資產或 負債特徵。在本綜合財務報表中計量和╱或披露的 公平值均在此基礎上予以確定，但香港財務報告準 則第 2 號「以股份支付之支出」範圍內的以股份支付 之支出交易、根據香港財務報告準則第 16 號「租賃」 入賬的租賃交易、以及與公平值類似但並非公平值 的計量（例如，香港會計準則第 2 號「存貨」中的可變 現淨值或香港會計準則第 36 號「資產減值」中的使用 價值）除外。 3. BASIS OF PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS AND SIGNIFICANT ACCOUNTING POLICIES (Continued) Basis of preparation of consolidated financial statements (Continued) The consolidated financial statements have been prepared on the historical cost basis at the end of each reporting period, as explained in the accounting policies set out below. Historical cost is generally based on the fair value of the consideration given in exchange for goods and services. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. In estimating the fair value of an asset or a liability, the Group takes into account the characteristics of the asset or liability if market participants would take those characteristics into account when pricing the asset or liability at the measurement date. Fair value for measurement and/or disclosure purposes in these consolidated financial statements is determined on such a basis, except for share-based payment transactions that are within the scope of HKFRS 2 “Share-based Payment”, leasing transactions that are accounted for in accordance with HKFRS 16 “Leases”, and measurements that have some similarities to fair value but are not fair value, such as net realisable value in HKAS 2 “Inventories” or value in use in HKAS 36 “Impairment of Assets”.