Canada Blood Services
F/S analysis
1. Synopsis
Field, service, who are we?
? CBS is an national NFP Charitable org that manages the blood supply in all provinces and territories with the exception of Quebec and operates the country's Unrelated Bone Marrow Donor Registry
? A charitable org responsible for recruiting donors and collecting blood at 40 permanent collection sites and more than 1400 blood donor clinics.
? Recruit blood donors, collect blood and process it into the components and products that are administered to hundreds of thousands of patients every year.
Total assets: $552,053
Total Net assets: $49,254
Total Revenue: $878,052
Net Income: $6,120
2. Auditors Opinion
? Unqualified- "these financial statements present fairly in all material respect, the financial position of the corporation?in accordance with with Canadian GAAP"
? Addressed to The Members
? Dated May 31, 2003 except for note 11 which is as of June 13, 2003
? Y/e was March 31, 2003-last audit field date is 2 months after y/e-timely reporting.
? No change in auditing firm: KPMG is the auditing firm for the current and preceding year audit.
3. Major accounting choices?.
? Accounting method chosen: Deferral method of accounting for contributions which include donations and government contributions. Operating contributions are recorded in the period in which they relate.
? The value of donated goods and services is not quantified in the F/S as donors are not paid for the blood or plasma collected in Canada.
? Foreign currency transactions of the corporation are translated using the temporal method
? Employee future benefits: the corporation accrues its obligations under employee b ...