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TOURISM CHILLIWACK INC.
Notes to Financial Statements (continued)
Year ended December 31, 2012
1. Significant accounting policies (continued):
(g) Use of estimates:
The preparation of the financial statements requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and the reported
amounts of revenue and expenses during the year. Actual results could differ from those
estimates.
2. Long-term investments:
2012
2011
Term deposit with interest at 2.75%, maturing on
June 29, 2013
$ 106,185 $ 104,484
Term deposit with interest at 2.75%, maturing on
June 30, 2013
85,049
83,688
$ 191,234 $ 188,172
3. Inventories:
2012
2011
Flag shop inventory
$
8,956 $
9,436
Maps and books
2,787
2,642
$ 11,743 $ 12,078
tourism chilliwack inc. financial statements
82
city of chilliwack
| 2012 annual municipal report