The Board recommended, and the Administration accepted, that the deferred credit account only show future years income and not be operated as a suspense account for unidentified income.

Pledges received for future years are recorded as deferred income

Other receivables and deferred charges

Income, deferred

Note 9. Accounts receivable and deferred charges

Note 13. Deferred income

If they are closed, the proceeds shall be credited to the Fund account as miscellaneous income.

ITC has been in consultation with the Accounts Division of the Office of Programme Planning, Budget and Accounts at United Nations Headquarters on the accounting treatment of deferred charges and deferred income for financial reporting.

Accounts receivable and payable

(h) Deferred income Deferred income as at 31 December 1997 and 1995, in millions of United States dollars, is shown in statement V

Charges or credits arising after the closure of project accounts shall be accounted for under miscellaneous income.

Delay in closing project accounts

(a) To establish a special account for UNOMSIL for the purpose of accounting for income received and expenditure incurred in respect of the Observer Mission

In addition, gains from currency fluctuation and inflation would not be available for transfer to the Development Account, nor would savings that are due to underexpenditure as a result of postponement of activities or inability to carry out approved mandates and programmes.

(a) The United Nations Office for Project Services account, to which all of the income to the Office derived from its services is credited and against which all its operational costs are charged

Assets 17. All funds received are deposited into UNICEF bank accounts, including those under special account arrangements, and reflected as cash holdings.

It was necessary to specify under which Fund account investment income accrues.

(iii) Deferred credits include income received for future periods and income received but not yet earned

(iv) On the closing of the accounts at the end of each financial period, if the balance of the exchange accounts reflects a net loss on exchange, it is charged to the budgetary account. If there is a net gain, this is credited to miscellaneous income

Deferred charges shall be transferred to the appropriate account when the necessary appropriations and funds become available.

The proceeds from sales in the amount of 339,735 were credited to the Special Account for ONUMOZ.

All such funds transferred or contributed to the escrow account under the provisions of resolution 778 (1992) were to be transferred back to the accounts of States from which funds were provided, together with applicable interest, at such time as oil exports have taken place pursuant to the system provided in resolutions 706 (1991) and 712 (1991), and the escrow account has received funds from the proceeds of sale.

Pledges are recorded as deferred income on the basis of a written commitment by a prospective donor to pay a monetary contribution at a specific time or times.

For the General Fund, the other accounts receivable and deferred charges as shown in statement II consist of the following (in thousands of United States dollars)

Proceeds from the sale of project equipment shall be credited to the accounts of that project as a reduction of expenditure, provided such accounts are still open.

The full amount of the advance is maintained in the accounts receivable from staff members until such time as the staff member produces the required proof of the entitlement to the education grant, at which time the budgetary account is charged and the advance recovered.

UNITAR will ensure that deferred income is recorded correctly at the closure of the biennium 2004 2005.

Public officials may divert public money to their accounts or those of a partner.

As a result, instead of the original receivable being reduced, a new account payable was created.

(ix) Income relating to future financial periods is not recognized in the current financial period and is recorded as deferred credits, as referred to in paragraph (m) (iii) below

12. The statement of income and expenditure does not include funds received and expenditures made from special accounts.

9. Liabilities included contributions received in advance from UNDP of 572,860, other liabilities of 358,242 (deferred income), unliquidated obligations of 594,491, and inter fund balances payable of 40,395.

(vi) Unspent allocations deferred income UNDP, UNFPA and UNEP The unspent balance of allocations issued for the current year, together with allocations issued for future years, is reflected as an asset and as deferred income.

Deferred income consists of contributions received in advance for future periods and included the following (in United States dollars)

6 Charged against the United Nations apos Support Account

It noted that under the new 1993 system of national accounts, the sum of the balance of primary incomes across sectors results in the aggregate called gross national income, which corresponds to the 1968 system of national accounts concept of GNP.

(a) Establishment of a special account for MINURCA for the purpose of accounting for income received and expenditures made in respect of the Mission

(vi) Interest income includes all interest and related investment income earned on invested funds, various bank accounts and time deposit

(vii) Interest income includes all interest and related investment income earned on invested funds, various bank accounts and time deposits

13. Interest income includes all interest and related investment income earned on invested funds and various bank accounts.

Funds received or pledges recorded as receivable, attributable to future financial periods and, therefore, not credited to the income account of the period reported on.

Since the establishment of EMLOT, expenditures for essential ongoing activities budgeted under the account had exceeded income received.

b The Special Account for UNAMIC has been consolidated into the Special Account for UNTAC.

When, for example, the Organization received a sum in full or partial settlement of an item of accounts receivable, in certain cases IMIS was not able to match or co relate the sum with the corresponding item of accounts receivable instead IMIS recorded the sum as an account payable by the United Nations.

(iv) Miscellaneous income to the regular budget including income from investment of the Working Capital Fund and the General Fund, proceeds from the provision or rental of goods or services, or adjustments arising subsequent to the closing of an operational budget account such as a trust fund, special account, project, etc.