Business in the British colony, which returns to the Chinese fold on 1 July, grew by 7 per cent in real terms last year and the economic frenzy is forecast to continue. This often tricky concoction is designed to account for the difference between the value of a company’s assets and the price paid for the organisation in a takeover. It will soon be subject to its own impairment test with the aim of ensuring that businesses seek to measure the value of intangible assets, such as brands and other intellectual property.”Provisions and impairments are interlinked anyway,” Acher says. “For example, a reorganisation may entail both asset write-downs and other costs to be incurred. The introduction of an impairment test in this area – under which, in Sir David’s words, “assets that are genuinely impaired are written down” – fits in with the board’s plans for the treatment of goodwill.

Those skiing in Switzerland should take out additional medical cover.Skiers should also ensure that the loss of personal baggage is adequately covered. A limit of pounds 399, which may be sufficient on a summer holiday, is unlikely to cover the loss of a pair of boots, let alone a pair of skis.Skiers should check whether the loss of baggage entitles the insured to immediate compensation. This will cover issues like rights of access, the powers of a member’s club committee, and provide for the preparation of annual accounts. There should also be a management agreement, appointing a company to run and maintain the scheme This should include a clear statement of management charges You should demand this before buying. In cases where members feel they are being overcharged, committees have changed management companies, or have taken over management themselves. This may be more than the average timesharer is looking for, but provides an ultimate sanction for the dissatisfied.What you don’t buy with a timeshare is any freehold right to the accommodation or land on which it is built.

Some timesharers last in perpetuity, while most have a fixed duration, not usually less than sixty years. During the timeshare, title of the land and property should be with a trustee company. This acts as a third party between the scheme developer and members.The Timeshare Council emphasises the importance of a trustee company in protecting members’ rights when buying abroad. For instance, the First National Trustee Company now provides this service round the world, and has expertise in setting up both scheme constitutions and management agreements. When buying a timeshare with FNTC involvement, it may hold the balance of a purchasers’ money in a trustee account while contracts are completed.Timeshares can be swapped and resold. Swapping is popular and agencies like Resort Condominiums International and Interval International provide computerised services matching up demand worldwide in return for an annual fee and further transaction charge.Reselling and renting out are also possible, but caution is strongly advised by the Timeshare Council.

The cards, which can be bought in the United Kingdom, cost pounds 32.50 for the season which runs from October to October. A family card for parents and all children costs pounds 98.00.The card can also be used in other European countries which have reciprocal health-care arrangements. It is sensible to look for cover which is in the region of pounds 1m. The skier should check whether this covers every element of concern, such as local hospital treatment and, if necessary, repatriation to the United Kingdom.For those skiing in France, in search of medical insurance, to cover winter sports there is the option of applying for a Carte Neige.This scheme will reimburse medical costs – other than those recoverable under state or other private insurance schemes – mountain rescue and repatriation home, as well as compensation for the loss of skis or lessons. And with a wide range of insurance products on the market, skiers should resist the temptation to buy the first policy the travel agent waves under their noses.It is important to concentrate on the issues that address your particular needs Experienced skiers may wish to ski off piste.