Financial statements, March 31, 2014
7.13. Notes to financial statements: Financial instruments
The Revolving Fund's financial instruments consist of cash in transit, accounts receivable, accounts payable and accrued liabilities, salaries payable, vacation, overtime and compensatory leave payable, and employee severance benefits. The carrying values of these financial instruments approximate their fair value because of their short terms to maturity, except for employee severance benefits which are based on management's best estimate and which approximates fair value. Unless otherwise noted, it is management's opinion that the Revolving Fund is not exposed to significant interest, currency or credit risk arising from these financial instruments.
Financial instruments that potentially subject the Canadian Grain Commission to concentrations of credit risk consist primarily of trade accounts receivable. The Canadian Grain Commission performs services to various organizations. For the year ended March 31, 2014, eight large integrated organizations accounted for 89% of the Canadian Grain Commission's receivable balances [2013 - five organizations, 81%].
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