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SHUN LEE CATHOLIC SECONDARY SCHOOL (20062007) 15 May 2007 Dear Parents, Circular 54 Flag Selling Activity In the past six years, over 1200 students have become a member of the Hong Kong Adventure
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CIR No. 54 HKAC refers to the Hong Kong Accounting Standard for Controlled Entities (HKAS 27).
Any entity in Hong Kong that meets the criteria outlined in HKAS 27 is required to file CIR No. 54 HKAC.
CIR No. 54 HKAC should be filled out according to the guidelines set forth in HKAS 27. It is recommended to seek professional advice if needed.
The purpose of CIR No. 54 HKAC is to establish accounting standards for controlled entities in Hong Kong, ensuring consistency and transparency in financial reporting.
CIR No. 54 HKAC requires reporting on the financial position, performance, and cash flows of controlled entities, as well as any related party transactions.
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