54
GDS Global Limited Annual Report 2015
NOTES TO
FINANCIAL STATEMENTS
As at 30 September 2015
2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont’d)
ADOPTION OF NEW AND REVISED STANDARDS - On 1 October 2014, the Group adopted all
the new and revised FRSs and Interpretations of FRS (“INT FRS”) that are effective from that date
and are relevant to its operations. The adoption of these new/revised FRSs and INT FRSs does not
result in changes to the Group’s and Company’s accounting policies and has no material effect on
the amounts reported for the current or prior years.
At the date of authorisation of these financial statements, the following FRSs, INT FRSs and
amendments to FRSs that are relevant to the Group and the Company were issued but not
effective:
FRS 109 Financial Instruments
FRS 115 Revenue from Contracts with Customers
Amendments to FRS 1 Presentation of Financial Statements: Disclosure Initiative
Amendments to FRS 16 Property, Plant and Equipment and FRS 38 Intangible Assets:
Clarification of Acceptable Methods of Depreciation and Amortisation
Amendments to FRS 110 Consolidated Financial Statements and FRS 28 Investments in
Associates and Joint Ventures: Sale or Contribution of Assets between an Investor and its
Associate or Joint Venture
Amendments to FRS 110 Consolidated Financial Statements, FRS 112 Disclosure of Interests
in Other Entities and FRS 28 Investments in Associates and Joint Ventures - Investment
Entities: Applying the Consolidation Exception
Improvements to FRSs (November 2014)
The management anticipates that the adoption of the above FRSs, INT FRSs and amendments to
FRSs in future periods will not have a material impact on the financial statements of the Group and
of the Company in the period of their initial adoption.
BASIS OF CONSOLIDATION - The consolidated financial statements incorporate the financial
statements of the Company and entities (including structured entities) controlled by the Company
and its subsidiaries. Control is achieved when the Company:
Has power over the investee;
Is exposed, or has rights, to variable returns from its involvement with the investee; and
Has the ability to use its power to affect its returns.
The Company reassesses whether or not it controls an investee if facts and circumstances indicate
that there are changes to one or more of the three elements of control listed above.
