87
CORDLIFE GROUP LIMITED
| ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2015
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(CONTINUED)
2.24 Other taxes
(Continued)
The net amount of GST recoverable from, or payable to, the taxation authority is included as part of
receivables or payables in the statements of financial position.
Cash flows are included in the consolidated
statement of cash flows on a gross basis and the GST
component of cash flows arising from investing and financing activities, which is recoverable from, or
payable to, the taxation authority are classified as operating cash flows.
Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable
to, the taxation authority.
2.25 Segment reporting
For management purposes, the Group is organised into operating segments based on their products
and services which are independently managed by the respective segment managers responsible for
the performance of the respective segments under their charge. The segment managers report directly
to the management of the Company who regularly review the segment results in order to allocate
resources to the segments and to assess the segment performance. Additional disclosures on each of
these segments are shown in Note 39, including the factors used to identify the reportable segments
and the measurement basis of segment information.
2.26 Share capital and share issuance expenses
Proceeds from issuance of ordinary shares are recognised as share capital in equity. Incremental costs
directly attributable to the issuance of ordinary shares are deducted against share capital.
2.27 Treasury shares
The Group’s own equity instruments, which are reacquired (treasury shares) are recognised at cost
and deducted from equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or
cancellation of the Group’s own equity instruments. Any difference between the carrying amount of
treasury shares and the consideration received, if reissued, is recognised directly in equity. Voting rights
related to treasury shares are nullified for the Group and no dividends are allocated to them respectively.
2.28 Contingencies
A contingent liability is:
(a)
a possible obligation that arises from past events and whose existence will be confirmed only
by the occurrence or non-occurrence of one or more uncertain future events not wholly within
the control of the Group; or
