ASCENDAS india trust ANNUAL REPORT 2014/15
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
For the financial year ended 31 March 2015
3.
Critical accounting estimates, assumptions and judgements
The preparation of the Company’s financial statements requires management to make judgements, estimates and assumptions
that affect the reported amounts of revenues, expenses, assets and liabilities, and the disclosure of contingent liabilities at
the end of each reporting period. Uncertainty about these assumptions and estimates could result in outcomes that require
a material adjustment to the carrying amount of the asset or liability affected in the future periods.
Critical Judgements in Applying the Entity’s Accounting Policies
In the process of applying the Company’s accounting policies, management has made the following judgement, apart from
those involving estimations, which have the most significant effect on the amounts recognised in the financial statements:
Impairment of available-for-sale financial assets
The Company records impairment charges on available-for-sale financial assets when there has been a significant or prolonged
decline in the fair value below their cost. The determination of what is “significant” or “prolonged” requires judgement.
The Company evaluates, among other factors, the duration and extent to which the fair value of a financial asset is below
its cost, the financial health of and near-term business outlook for the investee, including factors such as industry and
sector performance, changes in technology and operational and financing cash flow. Management is of the view that the
factors considered for purpose of determining impairment of available-for-sale financial assets are appropriate and meet the
requirements of FRS 39.
4.
Revenue
2015
2014
$’000
$’000
Fund management fee from a-iTrust
4,181
3,830
Trustee fee from a-iTrust
165
153
Performance fee from a-iTrust
2,925
2,709
Acquisition fee from a-iTrust
351
–
7,622
6,692
5.
Other income
Other income comprise the following:
2015
2014
$’000
$’000
Dividend income from a-iTrust
1,393
1,105
Government grant
–
15
1,393
1,120
