Page 64 - 2024 CPC Corporation,Taiwan

For the years ended December 31, 2022
Statements of Comprehensive Income
Gains (Losses) on fair value adjustment, investment properties
Income tax benefit
Net loss
Total comprehensive loss Basic earnings per share
Reporting amounts after restatement
Reporting amounts for the years ended December 31, 2023
$ 2,638,408 1,041,127 (20,451,713) (17,731,909) (1.57)
Reporting amounts before restatement
- 28,272,221 (186,159,015) (187,193,654)
Effect of changes in accounting policies
20,712,105
(3,277,554)
17,434,551 (168,724,464) 17,434,551 (169,759,103)
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Investment properties are properties held to earn rentals and/or for capital appreciation, rather than for sale in normal business, production, provision of goods or services, or administrative purposes. Investment properties are initially measured at cost and subsequently measured at fair value, and any changes therein are recognized as profit or loss.
Gains or losses from the disposal of investment properties (calculated as the difference between the net disposal price and the carrying amount of the project) are recognized in profit or loss. If the investment properties sold were previously classified as property, plant and equipment, any related “other equity - revaluation appreciation of property” is transferred to retained earnings.
Rental income from investment properties is recognized as non-operating income on a straight-line basis during the lease period. Leasing incentives given to it are recognized as part of the rental income during the lease period.
(s) Earnings per share
Basic earnings per share is calculated as the profit attributable to ordinary shareholders of the Company divided by the weighted average number of ordinary shares outstanding. Diluted earnings per share is calculated as the profit attributable to ordinary shareholders of the Company divided by the weighted average number of ordinary shares outstanding after adjustment for the effects of all potentially dilutive ordinary shares. The Company does not have potentially dilutive ordinary shares.
(t) Operating segments
An operating segment is a component of the Company that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the Company). Operating results of the operating segment are regularly reviewed by the Company’s chief operating decision maker to make decisions about resources to be allocated to the segment and to assess its performance. Each operating segment consists of standalone financial information.
(5) Significant accounting assumptions and judgments, and major sources of estimation uncertainty:
The preparation of the financial statements in conformity with the accounting laws and regulations governing state-owned enterprises, the Regulations and with the IFRSs, IASs, interpretations as well as related guidance endorsed by the FSC of the Republic of China requires management to make judgments, estimates, and assumptions that affect the application of the accounting policies and the reported amount of assets, liabilities, income, and expenses. Actual results may differ from these estimates.
The management continues to monitor the accounting estimates and assumptions. The management recognizes any changes in accounting estimates during the period and the impact of those changes in accounting estimates in the following period.
Information about judgments made in applying accounting policies that have the most significant effects on the amounts recognized in the financial statements is as follows:
Judgment regarding significant influence of investees
The Company holds 35%~49% of the voting shares of several investee companies, but because the remaining equity of these investee companies are concentrated in very few shareholders, the Company cannot exercise more than half of the voting rights, nor can it obtain a majority of directors’ seats. Therefore, the Company has only significant influence on these investee companies.
(14.31) 1.34 (12.97)
20,712,105 24,994,667