Page 142 - ICD-AR22-English

Notes to the Separate Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022
37 PRIORYEAR RECLASSIFICATIONS
During the year, the Corporation had performed the following reclassifications in the separate statement of financial position, separate statement of income statement and separate statement of cash flows. The classifications were done due to the following:
• To record accrued commodity income as part of the relevant asset instead of showing it under other assets
• To record deferred funding cost as part of the relevant liability instead of showing it under other liabilities
• The format of the separate income statement was amended by introducing new lines and grouping certain items together
There is no change to the reported net income and the relevant classifications are shown below:
Statement of Separate Financial Position as of 31 December 2021
Balances as reported previously
Reclassification
Balances as of 31 December 2021
USD
USD
USD
Cash and Cash equivalents
Commodity Placements through financial institutions Other assets
Sukuk issued
Commodity Murabaha financing Accrued and other Liabilities
158,647,462
198,066,519 47,662,056
700,000,000 1,100,334,902 44,253,354
41,681
4,731,519 (8,774,371)
695,404 (450,612) (4,245,963)
158,689,143
202,798,038 38,887,685
700,695,404 1,099,884,290 40,007,391
Total Assets
2,964,876,928
(4,001,171)
2,960,875,757
Total Liabilities
1,885,531,130
(4,001,171)
1,881,529,959
Total Equity and Liabilities
2,964,876,928
(4,001,171)
2,960,875,757
140 ICD ANNUAL REPORT 2022