Annual Report
2015
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DAYANG ENTERPRISE HOLDINGS BHD
(712243-U)
75
2.
Significant accounting policies (cont’d)
(a) Basis of consolidation (cont’d)
(vi) Non-controlling interests
Non-controlling interests at the end of the reporting period, being the equity in a subsidiary not
attributable directly or indirectly to the equity holders of the Company, are presented in the
consolidated statement of financial position and statement of changes in equity within equity,
separately from equity attributable to the owners of the Company. Non-controlling interests in
the results of the Group is presented in the consolidated statement of profit or loss and other
comprehensive income as an allocation of the profit or loss and the comprehensive income
for the year between non-controlling interests and owners of the Company.
Losses applicable to the non-controlling interests in a subsidiary are allocated to the non-
controlling interests even if doing so causes the non-controlling interests to have a deficit
balance.
(vii) Transactions eliminated on consolidation
Intra-group balances and transactions, and any unrealised income and expenses arising from
intra-group transactions, are eliminated in preparing the consolidated financial statements.
Unrealised gains arising from transactions with associates are eliminated against the investment
to the extent of the Group’s interest in the associates. Unrealised losses are eliminated in the
same way as unrealised gains, but only to the extent that there is no evidence of impairment
to the underlying assets.
(b) Financial instruments
(i) Initial recognition and measurement
A financial asset or a financial liability is recognised in the statement of financial position when,
and only when, the Group or the Company becomes a party to the contractual provisions of
the instrument.
A financial instrument is recognised initially at its fair value plus, in the case of a financial
instrument not at fair value through profit or loss, transaction costs that are directly attributable
to the acquisition or issue of the financial instrument.
An embedded derivative is recognised separately from the host contract and accounted
for as a derivative if, and only if, it is not closely related to the economic characteristics and
risks of the host contract and the host contract is not categorised at fair value through profit
or loss. The host contract, in the event an embedded derivative is recognised separately, is
accounted for in accordance with the policy applicable to the nature of the host contract.
Notes to the
Financial Statements
(cont’d)
