Page 92 - ACCESS ANNUAL REPORT 2019

NOTES (continued)
S ar o significant acco nting po icies contin ed Foreign c rrenc transactions
ransactions in orei n currencies are translated into the unctional currency usin exchan e rates prevailin at the dates o the transactions or valuation where the items are re measured.
onetary assets and lia ilities denominated in orei n currencies are translated at inter an mid closin rates rulin at the reportin date. on monetary items that are measured in terms o historical cost in a orei n currency are translated at exchan e rates rulin at the dates o initial reco nition. on monetary items denominated in a orei n currency that are measured at air value are translated at exchan e rates rulin at the date when air value was determined.
orei n exchan e ains and losses resultin rom the settlement o orei n currency transactions and rom translation at year end exchan e rates o orei n currency denominated monetary assets and lia ilities are reco nised in profit or loss.
All orei n exchan e ains and losses reco nised in profit or loss are presented net within the correspondin item. orei n exchan e ains and losses on other comprehensive income items are presented in other comprehensive income within the correspondin item.
onso idation
S bsidiaries
Su sidiaries are all entities includin structured entities over which the roup has control. he roup controls an entity when the roup is exposed to, or has ri hts to, varia le returns rom its involvement with the entity and has the a ility to affect those returns throu h its power over the entity. Su sidiaries are ully consolidated rom the date on which control is trans erred to the roup. hey are deconsolidated rom the date that control ceases.
he roup applies the ac uisition method to account or usiness com inations. he consideration trans erred or the ac uisition o a su sidiary is the air values o the assets trans erred, the lia ilities incurred to the ormer owners o the ac uiree and the e uity interests issued y the roup. he consideration trans erred includes the air value o any asset or lia ility resultin rom a contin ent consideration arran ement. Identifia le assets ac uired and lia ilities and contin ent lia ilities assumed in a usiness com ination are measured initially at their air values at the ac uisition date.
he roup reco nises any non controllin interest in the ac uiree on an ac uisition y ac uisition asis, either at air value or at the non controllin interest’s proportionate share o the reco nised amounts o ac uiree’s identifia le net assets.
Ac uisition related costs are expensed as incurred.
I the usiness com ination is achieved in sta es, the ac uisition date carryin value o the ac uirer’s previously held e uity interest in the ac uiree is re measured to air value at the ac uisition date any ains or losses arisin rom such re measurement are reco nised in profit or loss.
Any contin ent consideration to e trans erred y the roup is reco nised at air value at the ac uisition date. Su se uent chan es to the air value o the contin ent consideration that is deemed to e an asset or lia ility is reco nised in accordance with I RS 9 either in profit or loss or as a chan e to other comprehensive income. Contin ent consideration that is classified as e uity is not re measured, and its su se uent settlement is accounted or within e uity.
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