ORDER OF THE MINISTRY OF FINANCE

of June 18, 1999 No. 79

About approval of the Regulations on calculation of net assets of insurance companies

According to approval and enforcement of National accounting standards and the Chart of accounts of financial accounting of financial and economic activities of the companies

I ORDER:

1. Approve Regulations on calculation of net assets of insurance companies it (is applied).

2. Enact Regulations on calculation of net assets of insurance companies from the moment of publication in Monitorul Oficial al Republicii Moldova.

3. Declare invalid the Order of the Ministry of Finance No. 108 of July 7, 1997.

Appendix

to the Order of the Ministry of Finance of the Republic of Moldova No. 79 of June 18, 1999

Regulations on calculation of net assets of insurance companies

1. The regulations on calculation of net assets of insurance companies (further - provision) are developed according to item 7 of the Order of the Government of the Republic of Moldova N533 of June 10, 1997 "About some measures for settlement of insurance activity".

2. Net assets represent the actual cost of all assets created at the expense of own sources and free from obligations (debts).

Proceeding from this determination net assets of insurance companies are calculated by the following general formula:

 
                       Реальная
     Чистые активы =   стоимость  -  Заемные средства
                     всех активов
 

The size of net assets of insurance company is determined based on the balance sheet (form N 1) this organization as follows:

Net assets = code of p. 470 "All - asset" - code of p. 820 "Total on time to case 4" - code of p. 1060 "Total according to Section 5".

3. Assets of insurance companies in case of cost determination of net assets are included:

Chapter 1. Non-current assets (p. code 200);

Chapter 2. Current assets (p. code 460).

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