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LIPPO MALLS INDONESIA RETAIL TRUST ANNUAL REPORT 2013 71
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES CONT’D
Income Tax
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BOE MJBCJMJUJFT BSF PòTFU XIFO UIFZ SFMBUF UP JODPNF UBYFT MFWJFE CZ UIF TBNF JODPNF UBY BVUIPSJUZ 5IF DBSSZJOH BNPVOU PG
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EJòFSFODFT VOMFTT UIF EFGFSSFE UBY BNPVOU BSJTFT GSPN UIF JOJUJBM SFDPHOJUJPO PG BO BTTFU PS MJBCJMJUZ JO B USBOTBDUJPO XIJDI J JT
OPU B CVTJOFTT DPNCJOBUJPO BOE JJ BU UIF UJNF PG UIF USBOTBDUJPO BòFDUT OFJUIFS BDDPVOUJOH QSPöU OPS UBYBCMF QSPöU UBY MPTT
" EFGFSSFE UBY MJBCJMJUZ PS BTTFU JT SFDPHOJTFE GPS BMM UBYBCMF UFNQPSBSZ EJòFSFODFT BTTPDJBUFE XJUI JOWFTUNFOUT JO TVCTJEJBSJFT
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UIFZ XJMM OPU CF SFWFSTFE JO UIF GPSFTFFBCMF GVUVSF BOE UIFZ DBOOPU CF VUJMJTFE BHBJOTU UBYBCMF QSPöUT
Foreign Currency Transactions
The functional currency of the Trust is the Singapore dollar as it refects the primary economic environment in which the entity
operates. Transactions in foreign currencies are recorded in Singapore dollars at the rates ruling at the dates of the transactions.
At each end of the reporting year, recorded monetary balances and balances measured at fair value that are denominated in
non-functional currencies are reported at the rates ruling at the end of the reporting year and fair value dates respectively.
"MM SFBMJTFE BOE VOSFBMJTFE FYDIBOHF BEKVTUNFOU HBJOT BOE MPTTFT BSF EFBMU XJUI JO UIF QSPöU PS MPTT FYDFQU XIFO SFDPHOJTFE
in other comprehensive return and if applicable deferred in equity as qualifying cash fow hedges. The presentation is in the
functional currency.
Translation of Financial Statements of Other Entities
Each entity in the Group determines the appropriate functional currency as it refects the primary economic environment in
which the entity operates. In translating the fnancial statements of an investee for incorporation in the consolidated fnancial
statements the assets and liabilities denominated in currencies other than the functional currency of the Group are translated at
FOE PG UIF SFQPSUJOH ZFBS SBUFT PG FYDIBOHF BOE UIF JODPNF BOE FYQFOTF JUFNT BSF USBOTMBUFE BU BWFSBHF SBUFT PG FYDIBOHF GPS
the reporting year. The resulting translation adjustments (if any) are recognised in other comprehensive return and accumulated
in a separate component of unitholders’ funds until the disposal of that investee.
Segment Reporting
An operating segment is a component of an entity that engages in business activities from which it may earn revenues and
JODVS FYQFOTFT JODMVEJOH SFWFOVFT BOE FYQFOTFT SFMBUJOH UP USBOTBDUJPOT XJUI PUIFS DPNQPOFOUT XIPTF PQFSBUJOH SFTVMUT
are regularly reviewed by the entity’s chief operating decision maker to make decisions about resources to be allocated to the
segment and assess its performance and for which discrete fnancial information is available. Segment information has not
been presented as all of the Group’s investment properties are used primarily for retail purposes and are all located in Indonesia.
They are regarded as one component by the chief operating decision maker.
NOTES TO THE FINANCIAL STATEMENTS (CONT’D)
31 December 2013