Administration andManagement ortheController andinconformity withgenerally accepted government accounting principles. TheUnitedNations follows the International Accounting Standard 1onthedisclosure ofaccounting policies as modified andadopted bytheConsultative Committee onAdministrative Questions at itsfifty-fourth session asshownbelow: (i)Goingconcern, consistency andaccrual arefundamental accounting assumptions. Wherefundamental accounting assumptions arefollowed in financial statements, disclosure ofsuchassumptions isnotrequired. If afundamental accounting assumption isnotfollowed, thatfactshouldbe disclosed together withthereasons; (ii)Prudence, substance overformandmateriality shouldgoverntheselection andapplication ofaccounting policies; (iii)Financial statements shouldincludeclearandconcise disclosure ofall significant accounting policies thathavebeenused, (iv)Thedisclosure ofthesignificant accounting policies usedshould bean integral partofthefinancial statements. Thepolicies shouldnormally bedisclosed inoneplace; (v)Financial statements shouldshowcorresponding figures forthepreceding period; (vi)Achangeinanaccounting policythathasamaterial effectinthe current periodormayhaveamaterial effectinsubsequent periods should bedisclosed together withthereasons. Theeffectofthechangeshould, ifmaterial, bedisclosed andquantified. (b)TheInstitute's financial statements areprepared onthehistorical cost basisofaccounting andhavenotbeenadjusted toreflect theeffects ofchanging pricesforgoodsandservices. (c)Fundaccounting. TheInstitute's accounts aremaintained ona"fund accounting" basis. Separate fundsforgeneral orspecial purposes maybe established bytheGeneral Assembly ortheExecutive Director. Eachfundis maintained asadistinct financial andaccounting entity, withaseparate • self-balancing double-entry groupofaccounts. Separate financial statements are prepared foreachfundorforagroupoffundsofthesamenature. (d)Thefinancial periodoftheInstitute consists ofonecalendar year. (e)Theincomeandexpenditure andassetsandliabilities arerecognized on theaccrual basisofaccounting. -25-r (f)Translation ofcurrencies. Theaccounts oftheInstitute arepresented inUnitedStatesdollars. Accounts maintained inothercurrencies aretranslated intoUnitedStatesdollarsatthetimeofthetransaction atratesofexchange established bytheController. Inrespect ofsuchcurrencies, thefinancial statements prepared atsuchintervals asmaybeprescribed bytheController under delegation ofauthority fromtheUnder-Secretary-General forAdministration and Management, shallreflect thecash,investments, unpaidpledges (otherthanpledges forfutureyears)andcurrent accounts receivable andpayable incurrencies other thanUnitedStatesdollars, translated attheapplicable UnitedNations ratesof exchange ineffectasatthedateofthestatements. (g)Pledged contributions. Pledges arerecorded asincomeonthebasisofa written commitment byaprospective donortopayamonetary contribution ata specified timeortimes. Pledges received forfutureyearsarerecorded as deferred income. (h)Investments. Fundsondeposit ininterest-bearing bankaccounts andcall accounts areshowninthestatements ofassetsandliabilities ascash. (i)Deferred charges: (i)Deferred charges comprise expenditure itemsthatarenotproperly chargeable inthecurrent financial periodandthatwillbecharged as expenditure inthesUbsequent financial period; (ii)Forbalance-sheet stcltement purposes, onlythatportion oftheeducation grantadvance thatisassumed topertain tothescholastic yearcompleted asofthedateofthefinancial statement isshownasdeferred charges. Thefullamountoftheadvance ismaintained intheaccounts receivable fromstaffmembers untilsuchtimeasthestaffmemberproduces the required proofofentitlement totheeducation grant,atwhichtimethe budgetary account ischarged andtheadvance recovered. (j)Fixedassets. Furniture, equipment, othernon-expendables andleasehold improvements arenotincluded intheassetsoftheInstitute. Acquisitions are charged against budgetary accounts intheyearofpurchase. (k)Capitalassets. Theassetsshowninthestatement ofassetsand
**Analysis**
The text appears to be related to the financial management and accounting practices of an international organization, likely the United Nations. The content discusses various aspects of financial reporting, such as accounting policies, fund accounting, and asset recognition. Given the scope and focus on financial management, it is likely that the text is related to the administration and management of the organization.

**Category**
Administration, Finance