CORPORATE FINANCE MANUAL
This updated manual focuses on the IFRS accounting policies relevant to IHG. Guidance and interpretation is also provided on the key policies.
US GAAP is not covered as the technical US GAAP issues are all dealt with by the Controller’s Group.
Section
Contents1General2 Updates and resolving queries3 Accounting policies4 Policy application

Section
Description
Page1general
52 updates and resolving queries
7Section
Description
Page
3.1
basis of accounting
10 3.2
consolidation
11
3.2.1
subsidiary undertakings
11
3.2.2
minority interest
12
3.2.3
associates and joint ventures
13
3.2.4
off balance sheet items
14
3.2.5
acquisition of subsidiary undertakings
14
3.2.6
disposals of subsidiary undertakings
15
3.2.7
translation of overseas subsidiaries
15
3.2.8
consolidation adjustments
16
3.3
foreign currencies
17
3.4
prior period adjustments
18
3.5
post balance sheet events
19
3.6
tangible fixed assets
20 3.6.1
tangible fixed assets
20 3.6.2
capital expenditure and initial measurement
21
3.6.3
capitalisation of own labour
22
3.6.4
depreciation
22
3.6.5
disposal / sale of fixed assets
23
3.6.6
licences
24
3.6.7
impairment reviews
24
3.7
intangible assets
25
3.7.1
software costs
25
3.7.2
research and development
26
3.7.3
inducement payments
26
3.7.4
management contracts
27
3.8
associates, joint ventures and other equity investments
28
3.8.1
fixed asset investments
28
3.8.2
associates and joint ventures
28
3.8.3
other equity investments
29
3.9
other non-current financial assets
30 3.10 inventory
31
3.11
cash and cash equivalents
32
3.11.1
cash equivalents
32
3.12
provisions for liabilities
33
3.13
contingencies
34
3.14
revenue recognition
35
3.15
revenue exp