Annual report

3. 
OPERATIONS .................................................................................................................................................. 21
3.1
Operating expenditure ..................................................................................................................................... 21
3.2
Significant operations in the current accounting period .................................................................................. 26
3.3
Prepayments and contract assets ..................................................................................................................... 31
3.4
Tangible and intangible assets ........................................................................................................................ 31
3.5
Accounts payable and accrued expenses......................................................................................................... 34
3.6
Provisions ....................................................................................................................................................... 35
3.7
Leases – IFRC as a lessee ............................................................................................................................... 35
3.8
Capital commitments ...................................................................................................................................... 37
3.9
Contingent liabilities ....................................................................................................................................... 37
3.10
Related parties................................................................................................................................................. 38
4. 
MANAGEMENT OF FUNDS ........................................................................................................................ 39
4.1
Net finance (expense) / income ....................................................................................................................... 39
4.2
Cash and cash equivalents .............................................................................................................................. 40
4.3
Investments ..................................................................................................................................................... 40
4.4
Loans and borrowings ..................................................................................................................................... 41
4.5
Post-employment defined benefit liability, net ............................................................................................... 42
4.6
Financial instruments – Fair values and risk management ............................................................................. 48