Page 13 - DCB 2019 Annual Report

DIVER CERTIFICATION BOARD OF CANADA

2019 Annual Report
2018 A

2018 Annual Report nnual Report

STATEMENT OF FINANCIAL POSITION
2018 Annual Report

DECEMBER 31 2017 2016
Table of Contents able of Contents
T Table of Contents
Table of Contents
Who We Are
Who
3 3
ASSETS DIVER CERTIFICATION BOARD OF CANADA 3
Who We Are We Are
DIVER CERTIFICATION BOARD OF CANADA
Who We Are
International Recognition 3 3
3 3
CURRENT ASSETS STATEMENT OF FINANCIAL POSITION
NOTES TO FINANCIAL STATEMENTS
International Recognition
Cash Our Vision $ 279,833 $ 320,506 3 3
3 3
Our Vision Vision
Our
41,949
Accounts receivable 66,664 2018 3 3 2017
Our Vision
DECEMBER 31, 2019
Our Mission
DECEMBER 31
Our Mission Mission
3 3
Our
HST receivable 12,398 6,963
Our Mission
Prepaid expenses Our Board of Directors 11,320 28,460 3 3
Our
3 3
Our Board of Directors Board of Directors
Inventory 4. FINANCIAL INSTRUMENTS (Continued) 20,780 7,875 4 3
Our Board of Directors
ASSETS
What We Do
What We Do We Do
What
4 4
What We Do
Message from the Chairman
Message from the Chairman essage from the Chairman
5 5
M
Credit Risk $ 390,995 $ 405,753 5 4
CURRENT ASSETS
Message from the Chairman
M Cash
LIABILITIES Message from the CEO $ 217,067 6 6 $ 6 5 279,833
Message from the CEO essage from the CEO
Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other
Accounts receivable
66,664
77,756
6
Message from the CEO
Auditor’s Report
Au
7 7
Auditor’s Report ditor’s Report
party by failing to discharge an obligation. Financial instruments that potentially subject the
HST receivable
CURRENT LIABILITIES 11,760 7 12,398
Auditor’s Report
company to concentrations of credit risk consist of cash and accounts receivable. The organization
Fi Prepaid expenses
Financial Statements
Accounts payable and accrued liabilities $ 10,058 $ 2,165 8 7 11,320
10,488
8 8
Financial Statements nancial Statements
deposits its cash in reputable financial institutions and therefore believes the risk of loss to be
Deferred revenue Inventory 25,714 8,841 8 20,780
19,896
Financial Statements
N Notes to Financial Statements
Notes to Financial Statements otes to Financial Statements
11
11
remote. The organization is exposed to credit risk from accounts receivable. The organization
Payroll source deductions 5,409 4,624 11
$
believes this credit risk is minimi $ 317,589 15 390,995
Notes to Financial Statements zed as the organization has a large and diverse customer base. A
11
2021 Canadian Underwater Conference and Exhibition
15
15
41,181
provision for impairment of accounts receivable is established when there is objective evidence that
35,008
2020 Canadian Underwater Conference and Exhibition
LIABILITIES

the organization will not be able to collect all amounts due. 15

Cover Photos: Left - CDI Barge Right - DIT Chamber
CURRENT LIABILITIES
COMMITMENTS (Note 6)
Accounts payable and accrued liabilities
5. SHORT TERM INVESTMENTS $ 6,211 $ 10,059
NET ASSETS Deferred revenue - 25,714
4,488
Payroll source deductions 2019 2018
5,409
10,699 41,182
-
UNRESTRICTED Cash 349,814 $ 370,745 $ 34,721
Mutual Funds 131,523 53,062
Market linked GIC due Feburary 2020 bearing interest
COMMITMENTS (Note 6)
405,753
upon maturity up to a max of 13.5% $ 390,995 $ 34,033 34,033
GIC due January 2019 bearing interest at 1.70% - 35,140
NET ASSETS
$ 165,556 $ 156,956
UNRESTRICTED 306,890 349,813
Approved by the Directors:
6. RELATED PARTIES Director
$ 317,589 $ 390,995
Director
During the year there were honorariums paid to members of the board of directors for a total of
$6,924 (2018 – $9,116) and expense reimbursements of $6,963 (2018 - $23,346). All related party
transactions are measured at the exchange amount.
Approved by the Directors:
Director
Director
Director
Director
Photo courtesy of CDA-Technical Institute
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