(14) Payables shall be disclosed in the following formats

(i) It is required to separately list the beginning balance, ending balance and proportion to total amount of payables according to their categories (like other payables and advance payments, etc.)

(15) As regards payables to employees, it is required to list item by item the beginning balance, accrual at current period, amount paid at current period and ending balance of such payables.

(ii) in case, among the end of period payables, there is any amount due to an entity shareholder holding 5 or more shares of the Company, it is required to make disclosure of the name of the shareholder, the amount due and the nature of such payables

UNICEF will ensure that payables and receivables are disclosed in the financial statements for the 2004 2005 biennium, in accordance with United Nations system accounting standards.

In paragraph 23 of its report, the Board recommended that, in the future, UNICEF ensure that the value of payables and receivables is disclosed in full, in compliance with the United Nations system accounting standards.

In paragraph 36 of its report, the Board recommended that the Office of Programme Planning, Budget and Accounts, in conjunction with the United Nations Development Programme (UNDP), reconcile the discrepancy of 22.43 million and make necessary adjustments in the accounts to reflect the accurate balance of payables due to funding source in the financial statements.