Page 152

EN_Tipco_Annual Report 2014

TIPCO FOODS PUBLIC COMPANY LIMITED PAGE 152/ 153 33.2. Fair Value of Financial Instruments Fair value means the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm’s length transaction. The methods and assumptions are used by the company and its subsidiaries in estimating fair value of financial instruments as follows: Financial assets and financial liabilities held for the short-term maturities, such as cash on hand and deposits at financial institutions, accounts receivable and payable, and short-term loans, the carrying amounts in the statements of financial position approximate at the fair value. Investment in Debt Securities and Non-marketable Securities Equity Instruments or that do not have a quoted market price in an active market, presented the carrying amounts in the statements of financial position at their fair values, or at the net asset value attributable to investments, or at the discounted cash flow of the present value. Long-term loans, with fixed interest rate, the carrying value are approximated at their fair values, calculated by the present value of the contractually determined stream of future cash flow discounted at the market interest rate prevailing on the date of the statement of financial position. Long-term loans with variable interest rates which close to market rates, the carrying value are approximated at their fair value, presented in the statements of financial position. 34. Reclassification of Accounts Certain accounts in the 2013 financial statements have been reclassified to conform to the presentation in the 2014 financial statements as follows: Statement of financial position Investment Property Property, plant and equipment Consolidated financial statements Separate Unit : Baht financial statements 0 2,634,511,730 11,014,500 (11,014,500) 11,014,500 2,623,497,230 0 986,020,250 11,014,500 (11,014,500) 11,014,500 975,005,750 Before Reclassific-ation Before Reclassific-ation After Reclassific-ation After Reclassific-ation Reclassific-ation Reclassific-ation


EN_Tipco_Annual Report 2014
To see the actual publication please follow the link above