NOTES TO THE CONSOLIDATED FINANCIAL  STATEMENTS  (RMB AND US$ AMOUNTS EXPRESSED IN THOUSANDS, EXCEPT PER SHARE DATA)  For management purposes, the Group is organized into operating segments based on their products  and services which are independently managed by the respective segment managers responsible for the  performance of the respective segments under their charge. The segment managers report directly to the  management of the Company who regularly review the segment results in order to allocate resources to the  segments and to assess the segment performance. Additional disclosures on each of these segments are shown  in Note 30, including the factors used to identify the reportable segments and the measurement basis of  segment information. The accounting policies adopted are consistent with those of the previous financial year, except for the following new  and revised standards and amendments to IFRS effective as of January 1, 2013: The adoption of the standards or interpretation is described below: These amendments require first-time adopters to apply the requirements of IAS 20  Accounting for Government Grants  and Disclosure of Government Assistance , prospectively to government loans existing at the date of transition to IFRS.  Entities may choose to apply the requirements of IFRS 9 (or IAS 39, as applicable) and IAS 20 to government loans  retrospectively if the information needed to do so had been obtained at the time of initially accounting for that  loan. The exception would give first-time adopters relief from retrospective measurement of government loans with  a below-market rate of interest. The amendment was effective for annual periods on or after January 1, 2013. The  amendment has no impact on the Group. China Yuchai International Limited | Annual Report 2013 60 IFRS 1  First-time Adoption of International Financial Reporting Standards  –  Government Loans  –  Amendments to IFRS 1 2.  Basis of preparation and accounting policies (cont’d) 2.3  Summary of significant accounting policies (cont’d) (v)  Segment reporting 2.4  Changes in accounting policy and disclosures New and amended standards and interpretations l IFRS 1  First-time Adoption of International Financial Reporting Standards – Government Loans – Amendments to IFRS 1 l  IFRS 7  Financial Instruments: Disclosures – Offsetting Financial Assets and Financial Liabilities – Amendments to IFRS 7 l  IFRS 10  Consolidated Financial Statements  and IAS 27  Separate Financial Statements l  IFRS 11  Joint Arrangements  and IAS 28  Investment in Associates and Joint Ventures l  IFRS 12  Disclosure of Interests in Other Entities l  IFRS 13  Fair Value Measurement l  IAS 1  Presentation of Items of Other Comprehensive Income – Amendments to IAS 1 l  IAS 1  Clarification of the requirement for comparative information (Amendment) l  IAS 19  Employee Benefits (Revised 2011) l  IFRIC 20  Stripping Costs in the Production Phase of a Surface Mine