7.ThenetincomeoftheGreeting CardOperation attheendofitscampaign on30Aprileachyearisreflected aspartofUNICEF income. Theexpendituresincurred andincomeearnedduringtheongoing campaign areincluded intheUNICEFassetandliability accounts respectively as"advances" and"income received inadvance". Beforeconsolidation, theestimates ofsalesbasedongoodsdelivered toconsignees andthecorresponding costs,receivables and i~ventory accounts areadjusted toreflect thevalueofgoodsnotyetreported assoldbyconsignees. Incomeandexpenditures 8.Incomeconsists ofgeneral resources and supplementa~y funds. Generalresources include fundsfromvoluntary annualcontributions ofGovernments, thenetincome fromtheGreeting CardOperation, proceeds ofunearmarked fundscontributedbythepublic andcertain general income. Supplementary fundsarethosecontributed toUNICEF byGovernments, intergovernmental organizations,non-governmental organizations andunitedNations agencies forspecific purposeswhichareearmarked forUNICEF programmes "noted" bytheUNICEFExecutive Boardandforemergencies, andwhichthenbecomepartofUNICEF commitments. Ifspecifictermsandcondi.tions areestablished bydonors, separate accounts aremaintainedforpurposes ofreporting andfinancial management. -52-9. yea con (St 10. acc, the 11. UNI' Ope the 12. rec Sch Boa Ass 13. tru 14. par 15. mac are fol amo' hou; dep 16. ave pail sup', whil 17. in1 rep: the 18. con::e o t9.Incomeisrecorded onthebasisoffundsorpledges received forthecurrent year.Pledges forpurposes specified bydonors andreceived forfutureyearsare considered deferred incomeandrecorded as"pledged andreceived inadvance" (Statement Il). 10.Donations-in-kind, whicharerecorded asmemorandum entries inthebooksof account, arenotpartoftheincomeofUNICEF. Thevalueattributed bydonorsto theirdonations isdisclosed inthenotestothefinancial statements. 11.Expenditures arerecorded whenfundsaredisbursed orwhentheliability of. UNICEFisrecognized. Exceptforthemachinery andequipment forGreeting Card Operation, officefurniture andothernon-expendable properties arecharged against therelevant budgetaccounts intheyearonthedateofpurchase. 12.Thestatement ofincomeandexpenditure (Statement I)doesnotinclude funds received andexpenditures madefromtrustfunds,whicharereflected in Schedule II.Thosetransactions thatdonotrequire commitments bytheExecutive Boardareconsidered trustfunds. Assetsandliabilities 13.Allfundsreceived aredeposited intoUNICEF bankaccounts, including thoseon trustfundarrangements, andreflected ascashholdings. 14.Alloutstanding pledges forcontributions arerecorded asreceivables (see para.9). 15.Buildings purchased foroffice accommodation andstaffhousing aswellas machinery foruseingreeting cardproduction areconsidered capital assets. They arevaluedatcostlessamortization ordepreciation inaccordance withthe following principles: (a)Officebuildings areamortized byannualcharges tothebudgetfor amounts estimated tobeequivalent totheirannualrents,whilebuildings forstaff housing areamortized bytherental incomeearned fromtheoccupants~ (b)Machinery andequipment fortheproduction ofgreeting cardsis depreciated overitsestimated usefulperiod. 16.ThePacking andAssembly Centre's stockofprogramme supplies isshownat average cost. Goodsintransit intotheCentrearevaluedatactualcost.Freight paidforsupplies totheCentre's warehouse isconsidered partofthecostof supplies. Theaggregate totalrepresents theCentre's inventory, thevalueof whichisadjusted bytheaccumulated variance between average andactualcost. 17.TheGreeting CardOperation stockofrawmaterial isvaluedatcost.Products inprocess andfinished goodsarevaluedatstandard cost. Theaggregate total represents theGreeting CardOperation inventory, thevalueofwhichisadjusted by theaccumulated variances toreflect theiractualcosts. 18.Atyear-end, goodsshipped toconsignees forthecurrent campaign are considered partoftheinventory andareadjusted toactualcost.
**Analysis**
The text appears to be related to the financial management and accounting of a specific program or operation, specifically the Greeting Card Operation, which is part of UNICEF. The text discusses income, expenditures, assets, and liabilities, and provides details on how to record and account for certain transactions. Given the focus on financial management and accounting, it is likely that the text is related to the humanitarian aid and relief sector.

**Category**
Humanitarian aid and relief