Page 97 - EdUHK Annual Report 2016-2017

THE EDUCATION UNIVERSITY OF HONG KONG 香港教育大學
(Expressed in Hong Kong dollars unless otherwise stated)(除另有說明外，所有金額以港幣為單位)
Notes to the Financial Statements
財務報表附註
財務風險及資金風險管理 (續)
財務風險因素 (續)
(乙) 信貸風險
本集團的信貸風險主要來自其存款與 銀行現金、應收賬款及金融機構的投 資結餘。本集團有既定程序將風險減 輕，而管理層亦會持續密切監察信貸 風險的承擔。
有關學費的應收賬款根據校曆表在每 年所預設的到期日前收取。本集團已制 定政策，保留有關權利，例如拒絕向學 生發放學業證明文件等，以增加收回 應收賬款的款額。在金融機構的投資 結餘和銀行存款的信貸風險不大，因 為這些單位主要為擁有國際信貸評級 機構授予高信貸評級的銀行和金融機 構，本集團只接受有經過獨立評級並 最低限度擁有穆迪「A」評級的銀行和 金融機構。教大並無重大信貸集中的 風險，而風險承擔亦適當地分散予多 個財務機構，並有政策限制對任何單 一財務機構的存款，設立上限以控制 信貸風險。
(丙) 流動資金風險
本集團有政策定期監察當時和預期的 流動資金需求，以確保本集團持有充 足的現金儲備應付其短期和長期的流 動資金需求。
流動資金風險是指在負債到期支付時 沒有資金應付，及來自資產與負債的錯 配。本集團定期執行現金流量預測分 析，以管理流動資金風險，確保可應付 所有到期負債和已知的資金需求。審 慎的流動資金管理包括在本集團核准 銀行中維持足夠的信貸融資。
下表為本集團及教大的財務負債按結 算日至合約到期日的剩餘期間的相關 到期組別分析。以下披露的數額為合 約未貼現現金流量。由於貼現的影響 輕微，故在12個月內到期的應付賬款 和應計款項相等於其賬面值。
2 Financial risk and fund risk management (Continued)
2.1 Financial risk factors (Continued)
(b) Credit risk
The Group’s credit risk is primarily attributable to its deposits and cash at banks, accounts receivable and investment balances with nancial institutions. There
are procedures in place to mitigate the risk and the exposures to these credit risks are monitored closely by the management on an ongoing basis.
Accounts receivable in respect of tuition fees are receivable by due dates preset every year according to the academic calendar. The Group has a policy of withholding the
issue of academic documents to students to enhance the quality of accounts receivable. The credit risk in investment balances with nancial institutions and deposits and cash at banks are limited because the counterparties are mainly banks and nancial institutions with high credit-ratings assigned by international credit- rating agencies. For banks and nancial institutions, only independently rated parties with a minimum Moody’s
rating of “A” are accepted. The University has no signi cant concentration of credit risk and the risk exposure is diversi ed over a large number of counterparties. The University has policies that limit the amount of credit exposure to any single nancial institution.
(c) Liquidity risk
The Group’s policy is to monitor current and expected liquidity requirements regularly to ensure that it maintains suf cient reserves of cash to meet its liquidity requirements in the short and longer term.
Liquidity risk is the risk that funds will not be available
to meet liabilities as and when they fall due, and it results from mismatch of assets and liabilities. The Group performs regular projected cash ow analysis to manage liquidity risk to ensure that all liabilities due and known funding requirements could be met. Prudent liquidity management also includes maintaining adequate credit facilities in the Group’s approved banks.
The table below analyses the Group’s and the University’s nancial liabilities into relevant maturity groupings based on the remaining period at the end of the reporting period to the contractual maturity dates. The amounts disclosed in the table are the contractual undiscounted cash ows. Balance for accounts payable and accruals due within 12 months equal their carrying balances, as the impact of discounting is not signi cant.
2
2.1
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