Page 107 - Annual Report

HONG KONG ACADEMY OF MEDICINE
香 香港醫學專科學院
學
醫
港
學
院
專
科
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

23. POSSIBLE IMPACT OF NEW AND AMENDMENTS TO HKFRSs ISSUED BUT NOT YET
EFFECTIVE FOR THE YEAR ENDED 31 DECEMBER 2024 (Continued)

HKFRS 18 Presentation and Disclosure in Financial Statements and consequential
amendments to other HKFRSs (Continued)

(b) It requires an entity to disclose management-defined performance measures (“MPM”) and
reconciliations between MPM and subtotals listed in HKFRS 18 or totals or subtotals required by
HKFRSs.

(c) It sets out requirements to help an entity determine whether information about items should be
in the primary financial statements or in the notes and provides principles for determining the
level of detail needed for the information.

HKFRS 18 also set out classification requirements for foreign exchange differences, the gain or loss
on the net monetary position, and gains and losses on derivatives and designated hedging
instruments.

In addition, some paragraphs in HKAS 1 have been moved to HKAS 8 Basis of Preparation of
Financial Statements and HKFRS 7. Minor amendments to HKAS 7 Statement of Cash Flows and
HKAS 33 Earnings per Share are also made.

HKFRS 18 and consequential amendments to other HKFRSs are effective for annual reporting
periods beginning on or after 1 January 2027, with early application permitted. The application of the
new standard is expected to affect the presentation of the consolidated statement of profit or loss and
disclosures in the future consolidated financial statements. The Academy is in the process of
assessing the detailed impact on the consolidated financial statements.

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香港醫學專科學院 2025 年度報告