Page 131 - S P Setia Annual Report 2016
P. 131

S P Setia Berhad Group                                                                                129
          Annual Report 2016




                                                                               Notes To The Financial Statements

                                                                                  For The Financial Year Ended 31 December 2016

          1.   SIGNIFICANT ACCOUNTING POLICIES (CONT’D.)
              (aa)  Current versus non-current classification


                   The Group presents assets and liabilities in statement of financial position based on current/non-current classification. An asset
                   is classified as current when it is:

                   (i)   expected to be realised or intended to be sold or consumed in normal operating cycle;

                   (ii)   held primarily for the purpose of trading;

                   (iii)   expected to be realised within twelve months after the reporting period; or

                   (iv)   cash or cash equivalents unless restricted from being exchanged or used to settle a liability for at least twelve months after
                       the reporting period.

                   All other assets are classified as non-current.

                   A liability is classified as current when:

                   (i)   it is expected to be settled in normal operating cycle;

                   (ii)   it is held primarily for the purpose of trading;

                   (iii)   it is due to be settled within twelve months after the reporting period; or

                   (iv)   there is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.

                   The Group classifies all other liabilities as non-current.

                   Deferred tax assets and liabilities are classified as non-current assets and liabilities.
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