In addition, a comprehensive review of the receivable and payable accounts is being conducted to prevent netting off of the accounts payable against the accounts receivable and vice versa.

A provision for a possible write off of this receivable is included in accounts payable.

Accounts payable

Comment by the Administration. The Finance Section has instituted measures to ensure that the accounts receivable and accounts payable are separated and posted in the respective accounts when first entering transactions in the accounting system.

(i) Accounts receivable other

(e) Accounts receivable other

Accounts receivable are presented in statement II, net of a provision of 2,581,147 for doubtful accounts receivable comprising

(n) Provision for doubtful accounts receivable

Note 6 Provision for accounts receivable

Apart from the estimated uncollectable amounts, recorded under the provision for doubtful accounts receivable, we expect all significant accounts receivable at 31 December 2004 to be collected.

Examples include Fixed Assets, Long term borrowings, Accounts payable, Accounts receivables, Cash and Bank Balances.

The monthly review of accounts receivable is currently being undertaken.

Comment by the Administration. UNDP has designed the accounts receivable report.

As mentioned, above, the accounts receivable function would be transferred from the Payments Unit to the Accounts Unit.

In paragraph 26 of its report, the Board recommended that the Tribunal (a) comply with the United Nations system accounting standards by not netting accounts payable off against accounts receivable and vice versa and (b) improve the financial application system to prevent the netting off of debit and credit amounts.

Provision is made for accounts receivable for which no reasonable expectation of recovery exists.

It would also be responsible for the monthly reconciliation of receivable and revenue accounts.

The primary tasks of the Payments Unit are (a) maintenance of payroll and accounts payable receivable (b) making miscellaneous and daily payments (c) calculation and application of cost of living and other adjustments and (d) processing and maintenance of after service health insurance records.

However, these query scripts were only used to interrogate the accounts payable and purchase order modules.

Pending the disbursement of the funds, 1,000,000 of this amount is shown under accounts payable other .

All material accounts receivable have been included in the financial statements and represent valid claims against debtors.

As part of the realignment, the accounts receivable function would be transferred from the Payments Unit to the Accounts Unit and, at the same time, enhanced.

The proposed transfer of the accounts receivable function to a new sub unit within the Accounts Unit would offer some relief in the workload of the Unit.

An amount of 1,219,380 provided for in 2003 as a doubtful accounts receivable bank balance was recovered during 2004.

In the unlikely event of the claim not being settled, full provision has been made within accounts payable other .

Any resultant unrealized gain is not recorded as income for the period, but set aside within accounts payable other .

The accumulated amounts of unrealized gains as at 31 December 2004, included in accounts payable other , are as follows

For the year 2004, three reconciliations were required (a) between the accounts payable ledger and the imprest cash book (b) between the general ledger (accounts payable account) and the bank statements and (c) between the due to due from account on the UNOPS and UNDP general ledger.

Indeed, the proportion of deficit spending among enterprises is on the rise, and the accounts receivable turnover rate is falling.

The amounts in statement II under accounts payable include amounts due to other agencies, as follows, in United States dollars

Pursuant to decision GC.8 Dec.10, this amount is added to accounts payable established for this purpose in 1999.

Of the 345 million in the accounts of closed operations, however, 262 million is payable to Member States or others or is held in accounts that have negative net cash balances.

Financial contributions to accounts established under Article 18 shall be payable in freely convertible currencies and shall be exempt from foreign exchange restrictions.

5. Urges once again those Member States which have outstanding balances on foreign tax accounts receivable to provide the reimbursement due to the Fund

During the 2004 2005 biennium, the Tribunal has made great improvements in accounts receivable, specifically with respect to former employees and their outstanding receivables.

These claims were typically for the loss of funds in bank accounts in Kuwait or Iraq or for uncashed cheques or payable promissory notes.

In paragraph 46 of the report, UNU agreed with the Board's recommendation that it review the validity of other accounts payable to accurately reflect balances.

The first reconciliation between Atlas accounts payable and the imprest field cash books and bank statements has been completed and the resulting adjustments have been processed.

Contributions receivable

(b) Existing receivable means a receivable that arises upon or before conclusion of the contract of assignment and future receivable means a receivable that arises after conclusion of the contract of assignment

FDA has not released a statement of expenditures since October 2004, at which time 833,000 was reported having been spent and 221,000 was reported in accounts payable.

The first instalment of 1,220,000 due from the Austrian Government towards the replacement of carpets and cables at the Vienna International Centre is reflected within accounts receivable other .

These are limited in materiality to statement I, wherein doubtful accounts receivable are included in expenditures, whereas in previous years they were included in adjustments to prior year expenditures.

Unrealized exchange gains are not recorded as income, but set aside in accounts payable on the grounds of prudence until realized at which point they would be treated as income.

Unrealized exchange gains are not recorded as income, but set aside in accounts payable on the grounds of prudence until realized at which point they would be treated as income.