Page 122 - Demo

44.2 Cash and cash equivalentsCash and cash equivalents consist of cash in hand and at banks, and all highly liquid investments with an original maturity of three months or less and not subject to withdrawal restrictions.4.3 Inventories Finished goods are valued at the lower of cost under the weighted average method and net realisable value.4.4 Investments in subsidiaries and joint venture Investments in joint venture is accounted for in the consolidated financial statements using the equity method.Investments in subsidiaries and joint venture are accounted for in the separate financialstatements using the cost method less allowance for impairment (if any).4.5 Building improvements and equipment / DepreciationBuilding improvements and equipment are stated at cost less accumulated depreciation and allowance for impairment of assets (if any).Depreciation of building improvements and equipment is calculated by reference to their costs on the straight-line basis over the following estimated useful lives:Building and commercial area improvements 3 - 15 years or over the lease periodFurniture, fixtures and office equipment 3 - 10 yearsMotor vehicles 5 yearsDepreciation is included in profit or loss.No depreciation is provided on assets under construction and installation.An item of building improvements and equipment is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on disposal of an asset is included in profit or loss when the asset is derecognised.Super Turtle Public Company Limited 120Introduction Nature of Business Business Performance Corporate Information Corporate Governance Financial Report Attachment