Page 92 - Annual_Report_2020_2021

the HK$
on Total 2,220,576 1,570,434 3,791,010
focuses years HK$ - - -

programme Over 5 1 to 5 years HK$ -

management The Agency’s credit risk is primarily attributable to “account and other receivables”, “cash and cash equivalents” and “deposits”. The exposure to these credit risks are The Agency measures loss allowances for receivables at an amount equal to the lifetime Expected Credit Losses (ECL). In the opinion of directors, the credit risk is The Agency limits its exposure to credit risk in ba

risk The Agency’s activities expose it to a variety of financial risks: credit risk, interest rate risk and overall unpredictability of financial markets and seeks to minimise potential adverse effects on the deposit-takers. Deposit is placed only with creditworthy banks. and liabilities in view of the tendency of market interest rates. Within 1 year HK$ 2,220,576 1,288,500 3,509,076 27

AGENCY FOR VOLUNTEER SERVICE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Financial and capital risks management (Continued) Financial risk management Agency’s The risk. Agency's financial performance. Credit risk monitored on an ongoing basis. considered to be low. Interest rate risk Liquidity risk adequate cash for its operation. Maturities of financial liabilities required to pay

3. 3.2 liquidity (a) (b) (c)

The entity (or any member of a group of which the entity is a part) provides key
One entity is an associate or joint venture of the other entity (or an associate or
Close family members of an individual are those family members who may be expected to
A person identified in (a)(i) has significant influence over the entity or is a member
The entity is a post-employment benefit plan for the benefit of employees of either
One entity is a joint venture of a third entity and the other entity is an associate of
(a) A person or a close member of that person’s family, is related to the Agency if that person:
unforeseeable
continue as a going concern, to support the Agency’s stability and growth and to provide
The entity and the Agency are members of the same group (which means that
The Agency’s objectives when managing capital are to safeguard the Agency’s ability to
is a member of the key management personnel of the Agency or the Agency’s
of the key management personnel of the entity (or of a parent of the entity); and
joint venture of a member of a group of which the other entity is a member);
management personnel services to the Agency or the Agency’s parent.
The entity is controlled or jointly controlled by a person identified in (a);
each parent, subsidiary and fellow subsidiary is related to the others);
(b) An entity is related to the Agency if any of the following conditions applies:
with
influence, or to be influenced by, that individual their dealings with the entity.
cope
to
Both entities are joint ventures of the same third party;
and In particular, the Agency has set up the Agency Development Fund and the Operation Agency the of The Agency defines total of all Agency’s funds as its capital and is not subject to externally imposed capital requirements. The Agency regularly reviews and manages its fund structure and makes adjustments to the fund structure in light of changes in Agency’s
AGENCY FOR VOLUNTEER SERVICE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Summary of significant accounting policies (Continued) Related parties has control or joint control of the Agency; (i) has significant influence over the Agency; and (ii) (iii) parent. (i) (ii) (iii) (iv) the third entity; (v) the Agency or an entity related to the Agency; (vi) (vii) (viii) Financial and capital risks manage

2. 2.15 3. 3.1