Volvo 2003 Annual Report Download - page 53

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51
Note 20 Cash and bank accounts
2001 2002 2003
Cash in banks 4,941 4,157 5,782
Time deposits in banks 8,928 4,714 3,424
Total 13,869 8,871 9,206
Note 19 Marketable securities
2001 2002 2003
Government securities 1,399 203 203
Banks and financial institutions 436 484 116
Corporate institutions 3,968 1,140 176
Real estate financial institutions 7,626 14,841 19,023
Other 85 39 11
Total 13,514 16,707 19,529
Marketable securities consist mainly of interest-bearing securities, distributed as shown below:
Note 17 Short-term customer-financing receivables
2001 2002 2003
Installment credits 8,450 8,306 8,947
Financial leasing 5,913 5,269 5,737
Retailer financing 7,296 7,356 6,555
Other receivables 1,050 860 1,315
Total 22,709 21,791 22,554
Note 18 Other short-term receivables
2001 2002 2003
Accounts receivable 21,658 17,155 16,924
Prepaid expenses and accrued income 12,478 2,846 3,036
VAT receivables 1,684 1,333 1,181
Loans to external parties 12,114 1,300 3,863
Prepaid pensions 412 2 –
Current income tax receivables 988 634 530
Other receivables 4,235 3,725 3,232
Total, after deduction of valuation allowances for
doubtful accounts receivable 932 (1,079; 1,393) 33,569 26,995 28,766
1 Effective in 2003, Volvo has adopted RR 27, Financial instrument; Disclosure and presentation. See further in Note 1. As result of this change of accounting
prinicples, accrued interest income increased by SEK 0.6 billion and loans increased by SEK 3.0 billion at December 31, 2003.
Change of valuation allowances for doubtful accounts receivable 2001 2002 2003
Balance sheet, December 31, preceding year 1,101 1,393 1,079
Change of valuation allowance charged to income 222 224 201
Utilization of valuation allowance related to actual losses (241) (290) (239)
Acquired and divested operations 303 (5) 68
Translation differences 42 (266) (81)
Reclassifications, etc. (34) 23 (96)
Balance sheet, December 31 1,393 1,079 932