Consistent with prudent accounting principles, these pledges will be recognized as income in 2005 and have not been accounted for in the 2004 financial statements as deferred income.

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(ii) Income is recognized when an assessment on Member States has been authorized by the General Assembly.

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Pledges received for future years are recorded as deferred income

UNHCR is also of the opinion that the GAAP and IAS do not distinguish as to the purpose of a contribution for its recognition as income.

UNHCR is also of the opinion that the generally accepted accounting principles and international accounting standards do not distinguish as to the purpose of a contribution for its recognition as income.

92. In paragraph 15 of its report, the Board considers that contributions in kind should be recognized as income only when received.

7. In paragraph 15 of its report, the Board considers that contributions in kind should be recognized as income only when received.

The Administration should also consider recognizing pledges as income only when the funds are received

Acknowledgement of receipt

In the interests of prudent financial management, up to half of the value of conditional pledges from Governments and firm pledges made by organizations of established repute are recognized as income at the time the pledge is received.

The Administration should also consider recognizing pledges as income only when the funds are received.

(f) The Organization's financial statements are prepared on the historical cost basis of accounting and are not adjusted to reflect the effects of changing prices for goods and services

sufficient to indicate to the originator that the data message has been received.

One of the fundamental accounting assumptions contained in the general framework of the United Nations Accounting Standards (UNAS) is that an accrual basis of accounting for revenue is used, i.e. income is recognized when it is due and not when it is received.

As regards commission income, it is required to make disclosure of the amount of such income at current period and last period by category (income from application fee, income from redemption fee, income from transition fee and income from subscription fee).

Only paid pledges are recorded as income

3. Where the originator has stated that the data message is conditional on receipt of the acknowledgement, the data message is treated as though it has never been sent, until the acknowledgement is received.

That level of income includes the 1997 pledge from the Government of Japan of 1.76 million, which was received in 1998 and will be included in 1998 income.

In the interest of prudent financial management, up to one half of the value of firm pledges made by organizations of established repute is recognized as income at the time the pledge is accepted.

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Having two income recognition rules will add unnecessarily to the complexity of UNHCR internal accounting procedures.

Consistent with prudent accounting principles, these pledges will be recognized as income in 2005 and have not been accounted for in the financial statements of 2004 as deferred income.

UNOPS recognizes the need for a balanced budget to ensure that, as a self financing entity, expenditures are fully covered from revenues earned and thus submits a projection for 2005 of revenue of 53.77 million and expenditures of 50.86 million.

Funds received for future years for purposes specified by donors are considered deferred income and recorded as contributions received in advance .

The Committee is of the view that income recognition for those special programmes should be on an accrual basis.

The Committee is of the view that income recognition for those special programmes should be on an accrual basis.

(a) May give notice to the addressee stating that no acknowledgement has been received and specifying a reasonable time by which the acknowledgement must be received and

Pledges received for future years for purposes specified by donors are considered deferred income and recorded as pledged and received in advance .

One suggestion was to facilitate access to international financial institutions for countries listed as low and medium income States.

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Unconditional pledges from Governments are fully recognized as income at the time of receipt of the pledge.

The Group believes that revenue from this illegal diamond production provides an important income for the FN.

For the purpose of transparency, the recording of an unutilized balance of cash contributions as income received in advance is not consistent with the Agency s policy of recognizing income on the cash basis of accounting (recommendation 10 (d)).

Recognizing the significant contribution of sustainable fisheries to food security, income and wealth for present and future generations,

Income from assessed contributions is recognized on an accrual basis based on the budget approved by the Conference of the PartiesCOP

17. The administrative instructions for maintenance of programme support accounts recognize interest income in these accounts.

Some members felt that it should be available only to lower income States.

Based on the income earned under this heading in 2004 and anticipated for 2005, estimates of 1,464,600 under the regular budget and 315,200 in the operational budget are considered reasonable for 2006 2007.