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SFAS No.
15
Disclosure of Accounting Policies |
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 Status |
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Revised by
the Financial Accounting Standards Committee in Taiwan on 22
September, 2005. |
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Summary |
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Scope |
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The purpose of this Statement is to
establish the accounting standard for disclosure of |
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important accounting policies in the
preparation of financial statements by business |
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enterprises. |
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Required
Disclosure |
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Business enterprises should disclose
in the footnotes for the following transactions or events: |
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(a) General items: |
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(i) the preparation of consolidated financial statements; |
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(ii) the treatment method for foreign transactions and the
translation of foreign
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financial statements; |
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(iii) leases; |
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(iv) installment sales; |
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(v) long-term construction contracts; |
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(vi) taxes. |
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(b) Asset items: |
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(i) valuation method for financial instruments; |
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(ii) valuation method for inventories; |
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(iii) land investment and development cost; |
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(vi) valuation basis for fixed assets and depreciation methods; |
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(v) valuation basis for natural resources and depletion methods; |
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(vi) valuation basis for intangible assets and amortization
methods. |
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(c) Liability items: |
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(i) after-sale warranties for products; |
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(ii) pension plan and pension cost. |
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(d) Income statement
items: |
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(i) recognition method for revenue; |
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(ii) classification of capital expenditure and
revenue expenditure; |
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(iii) gain or loss from disposal
of fixed assets. |
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(e) Others |
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Except for those newly established, business enterprises shall
present financial |
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statements and the footnotes in a
two-period contrastive format. |
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Effective
date
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This statement becomes effective for
financial statements for the fiscal year ending on
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or after December 31, 1989. |
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