【正文】 oup. Any external advisers using the manual are not permitted to copy any material or to remove the Manual from the premises.B. ControlControl is exercised at three levels, namely:1. Controllers Group (Global)2. Regional and Functional Finance Director (divisional level)3. Business Service Centres (global and divisional)4. Project managementAt the corporate level, information supplied by divisions is consolidated into a Group total and reviewed for pliance against published reporting standards. At the divisional level control is exercised by monitoring performance against specific operating targets. The BSCs are responsible for transaction processing.C. StructureFinancial control and reporting recognises two related structures within the Group the management structure and the legal structure. The management structure is based on the Group39。CORPORATE FINANCE MANUAL This updated manual focuses on the IFRS accounting policies relevant to IHG. Guidance and interpretation is also provided on the key policies. US GAAP is not covered as the technical US GAAP issues are all dealt with by the Controller’s Group. SectionContents1General2Updates and resolving queries3Accounting policies4Policy applicationSectionDescriptionPage1general52updates and resolving queries7SectionDescriptionPagebasis of accounting10consolidation11subsidiary undertakings11minority interest12associates and joint ventures13off balance sheet items14acquisition of subsidiary undertakings14disposals of subsidiary undertakings15translation of overseas subsidiaries15consolidation adjustments16foreign currencies17prior period adjustments18post balance sheet events19tangible fixed assets20tangible fixed assets20capital expenditure and initial measurement21capitalisation of own labour22depreciation22disposal / sale of fixed assets23licences24impairment reviews24intangible assets25software costs25research and development26inducement payments26management contracts27associates, joint ventures and other equity investments28fixed asset investments28associates and joint ventures28other equity investments29other noncurrent financial assets30inventory31cash and cash equivalents32cash equivalents32provisions for liabilities33contingencies34revenue recognition35revenue expenditure36research and development36repairs and maintenance36advertising, sponsorship and promotions37preopening expense37pensions, holiday pay and employee benefits38defined benefit pension scheme costs38defined contribution pension scheme costs38Holiday / vacation pay / long term service awards38Severance / termination / redundancy payments39share based payments40leases41finance leases41operating leases41other lease issues41segmental reporting42assets held for sale and discontinued operations44assets held for sale44discontinued operations44SectionDescriptionPageidentification of subsidiaries46principles and definitions46acquisitions and disposals47principles and definitions47acquisitions48disposals53key information to be gathered and retained53foreign currencies57principles and definitions57approach to foreign currency translation58tangible fixed assets59principles and definitions59carrying value59categorisation of tangible fixed assets60properties61fixtures, fittings and equipment62payments on account and assets in the course of construction62capital and revenue expenditure63principles and definitions63initial measurement64capital retirements65depreciation66principles and definitions66timing of depreciation and depreciation base66accelerated depreciation67depreciation rates68standard depreciation assumptions70illustration of assets and asset ponents71sales / disposals of fixed assets75principles and definitions75disclosure76accounting treatment76impairment of fixed assets and goodwill77overview77key concepts77impairment review79allocation of impairment losses80subsequent monitoring of cash flows80associates, joint ventures and other equity investments81principles and definitions81consolidated accounts83checklist for qualification of an investment as an associate84disclosure required in consolidated financial statements85noncurrent financial assets86principles and definitions86accounting86provisions for liabilities and charges87definition87recognition of provision87measurement of provision87future operating losses88onerous contracts88restructuring costs88disclosures89contingencies90principles and definitions90normal uncertainties90contingent assets91identification of contingent liabilities91accounting treatment of contingent liabilities92revenue recognition93principles and definitions93treatment of franchise fees93treatment of management fees94technical service fees94supplier incentives and rebates95pension costs96principles and definitions96group ine statement97balance sheet accounts97disposal of a subsidiary98acquisition of a subsidiary98leases99principles and definitions99accounting for finance leases100operating leases102sale and leaseback transactions102lease incentives103other lease issues103 GeneralA