Adjustments to prior year contributions reflect reductions for unconfirmed pledges dating more than 5 years and refunds to donors. Cancellations of prior periods obligations reflect reductions to prior year expenditure due to funds committed but not utilized. Adjustments to prior period expenditure reflect refunds from implementing partners for funds transferred to them in prior years but not utilized. D. Assets 24. Cash and term deposits comprise invested funds, funds in call accounts and in current accounts.
Voluntary contributions receivable reflect outstanding pledges due at the end of the year.
Pledges due are normally written off after 5 years unless the donor has reconfirmed the commitment in writing not more than 18 months before the end of the accounting period. E. Liabilities and Reserves and Fund Balances 29. Commitments relating to prior and current financial periods are shown as unliquidated obligations. Unliquidated obligations can remain beyond 12 months, provided a firm liability to pay still exists. Accounts payable include letters of credit, contributions received in advance, funds held in trust, and miscellaneous amounts due to external parties.