HKSI Institute AR2019

109 香港證券及投資學會 二零一九年年報 16 General fund and exchange reserve (Continued) (b) Exchange reserve 2019 2018 Exchange reserve at beginning of the year 年初匯兌儲備 $ 49,072 $ 8,178 Exchange difference on translation of financial statements of overseas subsidiaries 換算海外附屬公司財務 報表產生的匯兌差异 (60,102) 40,894 Exchange reserve as at 31 March 於三月三十一日的 匯兌儲備 $ (11,030) $ 49,072 The exchange reserve comprises all foreign exchange differences arising from the translation of the financial statements of foreign operations. The reserve is dealt with in accordance with the accounting policies set out in note 2(f). 17 Financial risk management and fair values Exposure to credit, liquidity, interest rate and foreign currency risks arises in the normal course of the Group’s and the Institute’s business. The Group’s and the Institute’s exposure to these risks and the financial risk management policies and practices used by the Group and the Institute to manage these risks are described below. (a) Credit risk The Group and the Institute do not hold any significant financial assets other than cash and cash equivalents and time deposits with banks. Cash and cash equivalents and time deposits held by the Group and the Institute are deposited with reputable financial institutions. The maximum exposure to credit risk is represented by the carrying amount of each financial asset in the statement of financial position. 16 普通基金和匯兌儲備 （續） (b) 匯兌儲備 匯兌儲備包含因換算海外業務的 財務報表所產生的全部匯兌差 額。匯兌儲備按照附註 2(f) 所載列 的會計政策處理。 17 金融風險管理和公允價值 本集團和本會須在正常業務過程中承受 信貸、流動資金、利率和貨幣風險。本 集團和本會對這些風險的承擔額以及為 管理這些風險所採用的金融風險管理政 策和慣常做法載列於下文。 (a) 信貸風險 本集團和本會不持有現金及現金 等價物、銀行定期存款之外的任 何重大金融資產。本集團和本會 持有的現金及現金等價物、定期 存款均存於值得信賴的金融機構。 本集團和本會承受的信貸風險上 限為財務狀況表項內各金融資產 的賬面金額。