MISC BERHAD - Annual Report 2014 p 174 2. Significant accounting policies (cont’d.) 2.3 Summary of significant accounting policies (cont’d.) (i) Financial assets (cont’d.) Subsequent measurement (cont’d.): (iv) Available-for-sale financial assets Available-for-sale category comprises investment in equity and debt instruments that are not held for trading. Investments in equity instruments that do not have a quoted market price in an active market and whose fair value cannot be reliably measured are measured at cost. Other financial assets categorised as available-for-sale are subsequently measured at fair value with unrealised gains and losses recognised directly in other comprehensive income and accumulated under available-for-sale reserve in equity until the investment is derecognised or determined to be impaired, at which time the cumulative gain or loss previously recorded in equity is recognised in the income statement. The Group and the Corporation have designated their non-current investments as available-for-sale financial assets. All financial assets, except for those measured at fair value through profit or loss, are subject to review for impairment as described in Note 2.3(m). (j) Financial liabilities Initial recognition: Financial liabilities are classified as “financial liabilities at fair value through profit or loss”, “loans and borrowings” or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The Group determines the classification of its financial liabilities at initial recognition. Financial liabilities are recognised initially at fair value and in the case of loans and borrowings, any directly attributable transactions costs. The Group’s financial liabilities include trade and other payables, loans and borrowings, and derivative financial instruments. NOTESTOTHE FINANCIAL STATEMENTS - 31 December 2014
RkJQdWJsaXNoZXIy NDgzMzc=