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CapitaLand Mall Trust
Annual Report 2015
2 Basis of preparation
2.1 Statement of compliance
The financial statements have been prepared in accordance with the
Statement of Recommended
Accounting Practice (“RAP”) 7 “Reporting Framework for Unit Trusts”
issued by the Institute of Singapore
Chartered Accountants (“ISCA”), and the applicable requirements of the Code on Collective Investment
Schemes (“CIS Code”) issued by the Monetary Authority of Singapore (“MAS”) and the provisions of the
Trust Deed. RAP 7 requires that accounting policies adopted generally comply with the principles relating to
recognition and measurement of the Singapore Financial Reporting Standards (“FRS”).
2.2 Basis of measurement
The financial statements have been prepared on the historical cost basis, except for investment properties,
derivative financial instruments and certain financial assets and financial liabilities which are measured at fair
value.
2.3 Functional and presentation currency
The financial statements are presented in Singapore dollars, which is the Group’s functional currency. All financial
information presented in Singapore dollars has been rounded to the nearest thousand, unless otherwise stated.
2.4 Use of estimates and judgements
The preparation of financial statements in conformity with RAP 7 requires management to make judgements,
estimates and assumptions that affect the application of accounting policies and reported amounts of assets,
liabilities, income and expenses. Actual results may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates
are recognised in the period in which the estimates are revised and in any future periods affected.
Information about critical judgement in applying accounting policies that have the most significant effect on
the amount recognised in the financial statements is described in the following notes:
s .OTE n #LASSIlCATION OF INVESTMENT PROPERTIES
s .OTE n #LASSIlCATION OF ASSOCIATE AND JOINT VENTURES
Information about assumptions and estimation uncertainty that have a significant risk of resulting in a material
adjustment within the next financial year are included in following notes:
s .OTE n 6ALUATION OF INVESTMENT PROPERTIES
s .OTE n 6ALUATION OF lNANCIAL INSTRUMENTS
Notes to the Financial Statements
Year ended 31 December 2015
