Page 105 - ACCESS ANNUAL REPORT 2019
P. 105
NOTES (continued)
S ar o significant acco nting po icies contin ed E p o ee benefits
Defined contrib tion p ans
A defined contri ution plan is a retirement enefit plan under which the Group pays fixed contri utions into a separate entity. he Group’s contri utions to the defined contri ution schemes are char ed to profit or loss in the year in which they all due. he Group has no le al or constructive o li ations to pay urther contri utions i the und does not hold sufficient assets to pay all employees the enefits relatin to employee service in the current and prior periods.
Provident fund
he Group has a Provident und Scheme or all employees who have completed their pro ation period with the Group. O li ations under the scheme are limited to the relevant contri utions, which are remitted on due dates to the und custodian.
Other e p o ee benefits
Short term employee enefits, such as salaries, paid a sences, and other enefits, are accounted or on an accrual asis over the period which employees have provided services in the year. Bonuses are reco nised to the extent that the Group has a present o li ation to its employees that can e measured relia ly.
Borrowing cost
Borrowin costs directly attri uta le to the ac uisition, construction or production o uali yin assets, which are assets that necessarily ta e a su stantial period o time to et ready or their intended use or sale, are added to the cost o those assets, until such time as the assets are su stantially ready or their intended use or sale.
All other orrowin costs are reco nised in profit or loss in the period in which they are incurred.
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