Write offs

Write offs or conversions into grants amounted to 3,724.

These posts are requested to streamline the disposal of written off assets, inventory and facilities management and to improve the control of cargo movements.

UNICEF agrees to review the policy of the Private Sector Division on the determination of the provision for uncollectible accounts receivable and to ensure that the provision excludes receivables that have been written off.

Because the analysis did not include subsidies, rebates, tax write offs, docks constructed at public expense, and costs for training and marketing, this estimate should be considered conservatively low.

10.4 The Registrar may, after full investigation, authorize the writing off of losses of cash, stores and other assets, provided that a statement of all such amounts written off shall be submitted to the Auditor with the accounts together with the justifications attached thereto and brought to the Meeting of States Parties for its consideration.

In 2004, total expenditures (excluding write offs and reimbursements) amounted to 1,600 million, an increase of 9 per cent over 2003 and 3 per cent less than the financial plan forecast (see table 3).

In 2004, total expenditures (including write offs) amounted to 1,606 million, an increase of 127 million (9 per cent) compared to 2003 and a decrease of 43 million (3 per cent) compared to the financial plan.

In paragraph 66, the Board recommended that the Private Sector Division review its policy on the determination of the provision for uncollectible accounts receivable and ensure that it excludes written off receivables from provisions for uncollectible receivables.

According to the International Monetary Fund s most recent estimates, the total write offs on financial claims in this crisis will be 4.05 trillion for the United States, Japan, the euro zone and the United Kingdom, of which the US alone will have to absorb 2.7 trillion.