INTERNATIONAL FEDERATION OF RED CROSS AND RED CRESCENT SOCIETIES, GENEVA
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Page 16
Public
2.2 Receivables
2022
2021
CHF 000s
CHF 000s
Accounts receivable
Statutory contributions
26,605
28,262
Provision for estimated credit losses (ECL) on statutory contributions
( 17,497)
( 14,415)
9,108
13,847
Voluntary contributions
260,036
172,658
Provision for ECL on voluntary contributions
( 2,717)
( 2,209)
257,319
170,449
National Societies receivables
54,183
36,467
Provision for ECL on National Societies receivables
( 1,012)
( 564)
53,171
35,903
Other receivables (see note below)
2,006
994
Provision for ECL on other receivables
( 12)
( 8)
1,994
986
Total accounts receivable
321,592
221,185
Other receivables
5,126
3,601
Total Receivables
326,718
224,786
Current receivables
256,160
171,705
Non-current receivables
70,558
53,081
Total Receivables
326,718
224,786
Accounts receivable comprise statutory contributions due but not yet received, outstanding voluntary contributions and
donations, and amounts due for the provision of services. Other receivables include cash advances to National Societies
and employees, reimbursable taxes, contract assets, sundry receivables and fair value of cash flow hedges.
Trade receivables are initially recognised when they are originated. A trade receivable without a significant financing
component is initially measured at the transaction price and subsequently measured at amortised cost using the effective
interest method. The amortised cost is reduced by impairment losses. Interest income, foreign exchange gains and losses
and impairment are recognised in profit or loss. Any gain or loss on derecognition is recognised in profit or loss.
The carrying amounts of the IFRC’s assets are reviewed at each period end date, in order to determine whether there is
any indication of impairment.
Statutory contributions receivable may be subject to appeal and subsequent adjustments.
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