Accounting policy

Other items not affecting cash amounted to:     
  2011 2010
Risk provisions and losses related to doubtful accounts receivable/customer-financing receivables 801 1,401
Capital gains/losses on the sale of subsidiaries and other business units 19 34
Unrealized exchange rate gains/losses on accounts receivable and payable (249) (44)
Provision for global profit sharing program  550 350
Fair value commercial derivatives 276 (220)
R&D tax credit (283) -
Write-down of assets held for sale  54 65
Reversal of write-down of assets held for sale (60) -
Other non-cash items 154 (25)
  1,262 1,561
Investments in shares and participations:    
  2011 2010
New issue of shares (9) (13)
Capital contribution (15) (31)
Acquisitions (165) (154)
Divestments 69 91
Other 1 1
  (119) (106)
Acquired and divested subsidiaries and other business units:    
  2011 2010
Acquired subsidiaries and other business units (1,528) (214)
Divested subsidiaries and other business units (62) 831
  (1,590) 617

Important increase/decrease in bond loans and other loans
In 2011, the Volvo Group reduced its borrowings as a consequence of a strong cash flow. In 2010, the Volvo Group reduced its borrowings as a consequence of a strong cash flow and lower demands of funding from the Customer Finance Operations.