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TRADE PAYABLES
 12 Months Ended
Dec. 31, 2021
Trade Payables  
TRADE PAYABLES

18.TRADE PAYABLES

 

      Consolidated
  12/31/2021   12/31/2020
Trade payables            6,657,702              5,487,640
(-) Adjustment present value              (112,078)                (124,574)
             6,545,624              5,363,066
       
       
Classified:      
Current            6,446,999              4,819,539
Non-current                 98,625                 543,527
             6,545,624              5,363,066

 

The Company classifies drawee risk operations with suppliers in other liabilities as per note 16. These are negotiated with financial institutions, by which suppliers anticipate receivables and, on the other hand, extend our payment terms. The effective prepayment of receivables depends on acceptance by the suppliers, given that their participation is not mandatory. The Company is not reimbursed and / or benefited by the financial institution for discounts for payment executed before the maturity date agreed with the supplier, there is no change in the degree of subordination of the security in the event of judicial execution, nor changes in the existing commercial conditions between Company and its suppliers.

 

Accounting Policy

 

They are initially recognized at fair value, and subsequently measured at amortized cost, using the effective interest rate method, and adjusted to present value when applicable, based on the estimated rate of the Company’s cost of capital.