Financial statements, March 31, 2015
7.14. 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 and employee termination benefits which are based on management's best estimate. 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. For the year ended March 31, 2015, six large integrated organizations accounted for $3,768,507 or 89% of the Canadian Grain Commission's outside parties receivable balances (2014 – eight organizations, $3,975,128 or 89%).
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