Volvo 2006 Annual Report Download - page 120
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116 Financial information 2006
The Volvo Group
Note 20 Other short-term receivables
2004 2005 2006
Accounts receivable 20,137 24,784 23,251
Prepaid expenses and accrued income 2,514 2,502 2,263
VAT receivables 1,561 1,933 2,280
Loans to external parties 1,350 345 537
Other fi nancial receivables
1 981 1,671 2,344
Other receivables 3,321 4,229 3,724
Total, after deduction of valuation allowances for doubtful accounts receivable 29,864 35,464 34,399
1 Market value fi n ancial derivatives.
Notes to consolidated financial statements
Note 17 Other long-term receivables
2004 2005 2006
Other loans to external parties 720 348 300
Prepaid pensions 364 524 2,041
Other fi nancial receivables 672 1,514 1,394
Other receivables 1,007 741 665
Total 2,763 3,127 4,400
Note 19 Short-term customer-fi nancing receivables
2004 2005 2006
Installment credits 10,382 13,174 12,034
Financial leasing 5,488 7,132 7,493
Dealer fi nancing 8,850 12,067 11,703
Other receivables 1,286 909 1,423
Total 26,006 33,282 32,653
Effective interest rate for Short-term customer fi nance receivables was 6.59% as per December 31, 2006.
Note 18 Inventories
2004 2005 2006
Finished products 17,861 21,617 20,396
Production materials, etc. 10,737 12,320 13,815
Total 28,598 33,937 34,211
Inventories recognised as cost of sale during the period, 185,616 (172,567; 150,800).
Increase (decrease) in allowance for inventory obsolescence 2004 2005 2006
Balance sheet, December 31, preceding year 2,246 2,124 2,401
Increase in allowance for inventory obsolescence charged to income 244 333 186
Scrapping (226) (276) (169)
Translation differences (85) 177 (130)
Reclassifi cations, etc. (55) 43 (273)
Balance sheet, December 31 2,124 2,401 2,015