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Asia Media Group Berhad
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Annual Report 2015
Notes to the Financial Statements
(continued)
pg.
87
3.
Summary of significant accounting policies (cont’d)
(p) Income taxes (cont’d)
(ii) Deferred tax (cont’d)
The carrying amount of deferred tax assets is reviewed at each reporting date and
reduced to the extent that it is no longer probable that sufficient taxable profit will be
available to allow all or part of the deferred tax asset to be utilised. Unrecognised
deferred tax assets are reassessed at each reporting date and are recognised to the
extent that it has become probable that future taxable profit will allow the deferred
tax assets to be utilised.
Deferred tax assets and liabilities are measured at the tax rates that are expected
to apply to the year when the asset is realised or the liability is settled, based on tax
rates and tax laws that have been enacted or substantively enacted at the reporting
date.
Deferred tax relating to items recognised outside profit or loss is recognised outside
profit or loss. Deferred tax items are recognised in correlation to the underlying
transaction either in other comprehensive income or directly in equity.
Deferred tax assets and deferred tax liabilities are offset, if a legally enforceable right
exists to set off current tax assets against current tax liabilities and the deferred taxes
relate to the same taxable entity and the same taxation authority.
(q) Segment reporting
For management purposes, the Group is organised into operating segments based
on business segments which are independently managed by the respective segment
managers responsible for the performance of the respective segments under their charge.
The segment managers report directly to the management of the Company who regularly
review the segment results in order to allocate resources to the segments and to assess
segment performance. Additional disclosures on each of these segments are shown in the
financial statements, including the factors used to identify the reportable segments and
the measurement basis of segment information.
(r) Share capital and share issuance expenses
An equity instrument is any contract that evidences a residual interest in the assets of the
Group and the Company after deducting all of their liabilities. Ordinary shares are equity
instruments.