Notes for P&L

Note 17 Financial assets

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Accounting policy

The Groups financial assets are included in the amortized cost category. Loan receivables and accounts receivable are non-derivative financial assets that have determined or determinable payments and that are not listed on an active marketplace. These assets are measured at amortized cost. Amortized cost is determined on the basis of the effective interest calculated at acquisition. Cash and cash equivalents and accounts receivable belong to this category. Accounts receivable are recognized at the amount expected to be received, i.e. after impairment of expected bad debt. Conversion to SEK is at the closing rate on the reporting date. Book value less impairment is an approximate fair value of accounts receivable.

Impaired accounts receivable are recognized at the present value of expected future cash flows. However, receivables with short maturities are not discounted. Impairment of saleable financial assets is recognized in profit or loss for the year in net financial income/expense. 

Exchange rate fluctuations on operating receivables and liabilities are recognized in operating profit, while exchange rate fluctuations on financial receivables and SEK M 31 Dec 2023 31 Dec 2022 liabilities are recognized in net financial income/expense.

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Cost of bad debt and doubtful accounts receivables amounted to SEK 0 M (0) for the Group. No reserve for doubtful debts has been reported as this has not historically occurred.