Regulations Governing the Preparation of Financial Reports by Futures Clearing Houses｜第 12 條｜證券暨期貨管理｜Regulation｜In Force
第 二 章/第 一 節｜金融監督管理委員會｜v1.0
Last Amended: 2018-07-27
Liabilities shall be properly classified. Current and non-current liabilities shall be distinguished. For each liability line item, the total amount expected to be settled within 12 months after the balance sheet date and the total amount expected to be settled more than 12 months after the balance sheet date shall be separately presented in the financial statements or disclosed in the notes. Current liability means that the futures clearing house expects to settle the liability in its normal operating cycle; that it holds the liability primarily for the purpose of trading; that it expects to settle the liability when due within 12 months after the balance sheet date, even if an agreement to refinance or to reschedule payments on a long-term basis is completed after the balance sheet date and before the financial statements are authorized for issue; or that it does not have an unconditional right to defer settlement of the liability for at least 12 months after the balance sheet date. Terms of a liability that could, at the option of the counterparty, result in its settlement by the issue of equity instruments do not affect its classification. Current liabilities shall include at least the following liability line items: 1.Short-term borrowings: A.Short-term borrowings includes short-term borrowings from banks, overdrafts, and other short-term borrowings. B.For short-term borrowing, the nature of the borrowing, the name of the lending bank, the interest rate range, the maturity date, and the guarantee status shall be noted based on the type of borrowing. If collateral is provided, the name and carrying amount of the collateral shall be stated. C.Borrowings from financial institutions, shareholders, employees, related parties, and other individuals or institutions shall be separately noted. 2.Short-term bills payable: A.Short-term bills issued through financial institutions to acquire funds from the money market, including commercial paper payable and bankers' acceptances. B.Short-term bills payable shall be measured at amortized cost using the effective interest method. However, short-term bills payable with no stated interest rate may be measured at the original face amount if the effect of discounting is immaterial. C.For short-term bills payable, the guarantor or accepting institution and the interest rate shall be noted. If collateral is provided, the name and carrying amount of the collateral shall be noted. 3.Financial liabilities at fair value through profit or loss–current: A.Financial liabilities held for trading: a.Liabilities that are incurred principally for the purpose of repurchasing them in the near term. b.Liabilities that, upon initial recognition, are part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking. c.Liabilities that are financial liabilities, except for financial guarantee contracts or derivative financial liabilities that are designated and effective hedging instruments. B.Financial liabilities that are designated as measured at fair value through profit or loss. C.Financial liabilities at fair value through profit or loss shall be measured at fair value. However, with respect to a financial liability designated as at fair value through profit or loss, if the amount of change in the fair value of the financial liability is attributable to change in the liability's credit risk, it shall be recognized in other comprehensive income, unless for the purpose of avoiding accounting mismatch or in the case of loan commitments and financial guarantee contracts, under which circumstances the amount of changes in fair value shall be recognized in profit or loss. 4.Financial liabilities for hedging – current: A.A financial liability that is a designated and effective hedging instrument under hedge accounting requirements. B.The futures clearing house shall classify these as derivative instruments or as non-derivative financial liabilities measured at fair value through profit or loss or not measured at fair value through profit or loss. 5.Trade payables: A.Payables resulting from principal business operations. B.Trade payables shall be measured at amortized cost using the effective interest method. However, short-term trade payables with no stated interest rate may be measured at the original invoice amount if the effect of discounting is immaterial. C.Trade payables arising from operating activities shall be presented separately from other payables arising from non-operating activities. D.Payables to related parties in material amounts shall be presented separately. E.If collateral has been provided for trade payables, the name and carrying amount of the collateral shall be noted. 6.Other payables: Payables other than trade payables, such as tax payable, accrued payroll, and dividends payable. For dividends and bonuses payable passed by resolution of the shareholders meeting, the distribution method and scheduled payment date, if determined, shall be disclosed. 7.Current tax liabilities: Unpaid tax for current and prior periods. 8.Provisions–current: A.Any liability of uncertain timing or amount. B.Provisions shall be accounted for in accordance with IAS 37. C.A provision shall be recognized when a futures clearing house has a present obligation as a result of a past event, and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. D.A futures clearing house shall disaggregate provisions into provisions for employee benefits and other items in the notes. 9.Futures traders' equity: A contra item to the "clearing margins" on the assets side. 10.Liabilities directly associated with non-current assets held for sale: Any liability included in a disposal group held for sale that is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such disposal groups, and whose sale must be highly probable. 11.Other current liabilities: Current liabilities not attributable to any of the classes above. Non-current liabilities refers to liabilities other than current liabilities, and shall include at least each of the following line items: 1.Bonds payable (including overseas bonds) refers to bonds issued by a futures clearing house: A.For issued bonds, the total approved amount, interest rate, maturity date, name of collateral, carrying amount, issuing area, and other relevant terms and restrictions shall be noted in the notes to the financial reports. If the bonds are convertible bonds, the method of conversion and amounts already converted shall also be noted. B.Premiums and discounts on bonds payable are valuations of bonds payable. They shall be presented as an addition to or deduction from bonds payable, and shall also be amortized, as an adjustment to interest expenses, using the effective interest method during the period of bond circulation. 2.Long-term borrowings: A.Includes long-term borrowings from banks and other long-term borrowings or borrowings repaid in installments. For long-term borrowings, the content, maturity date, interest rate, name of collateral, carrying amount, and any other important restriction terms shall be noted. B.For a long-term borrowing repaid in a foreign currency or in an amount translated at a foreign exchange rate, the name and amount of such foreign currency shall be noted. C.Long-term borrowings from shareholders, employees, and related parties shall be noted separately. D.Long-term payables shall be measured at amortized cost using the effective interest method. 3.Lease liabilities: A.Means the present value of the lease payments that the lessee has not paid. B.Lease liabilities shall be accounted for in accordance with IFRS 16. 4.Deferred tax liabilities: The amounts of income taxes payable in future periods in respect of taxable temporary differences. 5.Settlement and clearing credit items: A contra item to the "settlement and clearing debit items" on the assets side. In preparing the balance sheet, settlement and clearing credit items shall be presented as a net balance after offsetting against settlement and clearing debit items, provided that their nature, content, utilization, and pledge status shall be indicated in the notes to the financial reports and the details be disclosed in the statements of related accounting items. 6.Other non-current liabilities: Non-current liabilities not attributable to any of the classes above. The items described in the preceding two paragraphs in relation to financial liabilities at fair value through profit or loss, financial liabilities for hedging, trade payables, and other payables shall be accounted for in accordance with IFRS 9. With respect to the items described in paragraphs 3 and 4 in relation to financial liabilities at fair value through profit or loss, financial liabilities for hedging, trade payables, other payables, liabilities directly associated with non-current assets held for sale, bonds payable, and long-term borrowings, the measurement and disclosure of fair value shall be made in accordance with IFRS 13. The financial liabilities at fair value through profit or loss, financial liabilities for hedging, lease liabilities, and provisions described in paragraphs 3 and 4 shall be distinguished as current and non-current based on liquidity.