Announcement of amendments made to FENC’s accounting policy beginning fiscal year 2014
From：
SEQ_NO
6
Date of announcement
2014/03/19
Time of announcement
19:00:54
Subject
Announcement of amendments made to FENC’s
accounting policy beginning fiscal year 2014
Date of events
2014/03/19
To which item it meets
article 2 paragraph 9
Statement
1.Date of the board of directors resolution:2014/03/19
2.The nature of the change:Amendments of accounting policy
3.Reason for the change:
The measurement subsequent to initial recognition of
investment properties will be altered to fair value model
4.The prior periods affected by retrospective application of the new
accounting policy:2014/01/01
5.The line items affected and the actual effect for the immediately
preceding financial year:
Announcement after the completion of the relevant procedures.
6.The actual effect on the opening balance of retained earnings for the
immediately preceding financial year:
Announcement after the completion of the relevant procedures.
7.The reasonableness and necessity for the change in accounting policy or
accounting estimate after the beginning of the financial year:
To reflect the fair value of the Company’s investment properties
in accordance with the newly amended “Regulations Governing the
Preparation of Financial Reports by Securities Issuers”,
the Company’s investment property measurements subsequent to initial
recognition will be altered to fair value model.
8.If retrospective application is impracticable, specify the reasons, how
and from when the accounting policy change be applied:None
9.If retrospective application is impracticable, CPA provides the opinion
about the impact of the audit opinion for the financial year preceding the
accounting change:None
10.About the reasonableness of the item 2 to 9, the itemized analysis and
reviewed opinion from CPA:None
11.Objection or reservation opinion from the independent directors:None
12.Countermeasures:Upon the resolved resolution by the FENC Board of
Directors on 19 March 2014, the Company will request a certified public
accountant (CPA) to provide a review opinion on the effects of the
Company’s retained earnings of the change in accounting policy, and
submit a proposal for adoption by resolution of the board of directors
and for recognition by the supervisors in the next board meeting, after
which the effect will be publicly disclosed and filed.
13.Any other matters that need to be specified:None
