NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31,
2014 AND 2013
(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)
1. GENERAL INFORMATION
CPC Corporation, Taiwan (the “Corporation” or CPC) was established on June 1, 1946 and engages mainly in oil and gas
exploration, refining, procurement, transport, storage and marketing.
The functional currency of the Corporation is the New Taiwan dollar.
2. APPROVAL OF FINANCIAL STATEMENTS
The financial statements were approved by the Corporation’s board of directors on April 17, 2015.
3. APPLICATION OF NEW, AMENDED AND REVISED STANDARDS AND INTERPRETATIONS
a. The amendments to the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the 2013
version of the International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), Interpretations
of IFRS (IFRIC), and Interpretations of IAS (SIC) endorsed by the FSC not yet effective
Rule No. 1030029342 and Rule No. 1030010325 issued by the FSC on April 3, 2014, stipulated that the Corporation should apply
the 2013 version of IFRS, IAS, IFRIC and SIC (collectively, the “IFRSs”) endorsed by the FSC and the related amendments to the
Regulations Governing the Preparation of Financial Reports by Securities Issuers starting January 1, 2015.
New, Amended and Revised Standards and Interpretations (the “New IFRSs”)
Effective Date Announced by IASB (Note)
Improvements to IFRSs (2009) - amendment to IAS 39
January 1, 2009 and January 1, 2010, as
appropriate
Amendment to IAS 39 “Embedded Derivatives”
Effective for annual periods ended on or
after June 30, 2009
Improvements to IFRSs (2010)
July 1, 2010 and January 1, 2011, as
appropriate
Annual Improvements to IFRSs 2009-2011 Cycle
January 1, 2013
Amendment to IFRS 1 “Limited Exemption from Comparative IFRS 7 Disclosures for
First-time Adopters”
July 1, 2010
Amendment to IFRS 1 “Severe Hyperinflation and Removal of Fixed Dates for First-
time Adopters”
July 1, 2011
Amendment to IFRS 1 “Government Loans”
January 1, 2013
Amendment to IFRS 7 “Disclosure - Offsetting Financial Assets and Financial
Liabilities”
January 1, 2013
Amendment to IFRS 7 “Disclosure - Transfer of Financial Assets”
July 1, 2011
IFRS 10 “Consolidated Financial Statements”
January 1, 2013
IFRS 11 “Joint Arrangements”
January 1, 2013
IFRS 12 “Disclosure of Interests in Other Entities”
January 1, 2013
(Continued)
