Accounting policy
Current investments are initially recognized at fair value plus any directly attributable transaction costs. Subsequent to initial recognition, they are measured at amortized cost using the effective interest method.
Deposits with banks with a maturity between three and 12 months are classified as current investments.
|
|
2023 |
|
2022 |
|---|---|---|---|---|
Fixed term deposits |
|
107 |
|
125 |
Total |
|
107 |
|
125 |
All fixed-term deposits have been placed with institutions with a high credit rating in line with our counterparty policy. The purpose of the deposits is either to meet short-term cash commitments, or to manage liquidity to such extent that yields are optimized while allowing dsm-firmenich sufficient freedom in fulfilling its (strategic) goals.
For more information regarding the counterparty policy, see Note 23 Financial instruments and risks.