INTERNATIONAL FEDERATION OF RED CROSS AND RED CRESCENT SOCIETIES, GENEVA
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
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Public
2.1 Income (continued)
Voluntary contributions from National Societies and donations from non-National Societies are recognised based on the
the level of earmarking, as summarised in the below table:
Unearmarked
Can be used for any purpose to further the objectives of the IFRC
Amounts are recognised as income in the current
period and within
unrestricted income
Unspent amounts included within unrestricted reserves at the end of the
accounting
period
Earmarked
Fully under the control of the IFRC
Can be restricted in terms of nature, timeframe, or subject matter
Amounts are recognised within restricted income
Unspent amounts included within restricted reserves at the end of the
accounting period
Not fully under the control of the IFRC
Can be restricted in terms of nature, timeframe, or subject matter
Earmarked for use in a future period
Amounts are recognised as deferred income in the current period
Amounts are recognised within restricted income in the future period for
which they are earmarked
Subject to specific contractual obligations, similar to government grants
Amounts are recognised within restricted income as expenditure is
incurred and contractual obligations are fulfilled
Amounts received but not recognised are included in deferred income
Income recognition policy for voluntary contributions from National Societies and donations from non-National
Societies is summarised in the below table:
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