ORDER OF THE MINISTRY OF FINANCE OF UKRAINE

of November 29, 1999 No. 290

About approval of the National provision (standard) of financial accounting

In pursuance of the Program of reforming of financial accounting using international standards approved by the resolution of the Cabinet of Ministers of Ukraine of October 28, 1998 No. 1706, I ORDER:

1. Approve the National provision (standard) of the financial accounting 15 "Income" (further - the Provision (standard) 15) approved by Methodological council on financial accounting under the Ministry of Finance of Ukraine which is applied.

2. Determine that the specified National provision (standard) 15 is applied concerning accounting of the transactions happening since 2000.

Approved by the Order of the Ministry of Finance of Ukraine of November 29, 1999 No. 290

National provision (standard) of the financial accounting 15 "Income"

General provisions

1. This National provision (standard) determines methodological bases of forming in financial accounting of information on the income of the company and its disclosure in the financial reporting.

2. Regulations of this National provision (standard) are applied by the companies, the organizations and other legal entities (further - the companies) irrespective of patterns of ownership (except budgetary institutions and the companies which according to the legislation constitute the financial reporting under International Financial Reporting Standards).

3. This National provision (standard) does not extend to the income connected with:

lease agreements;

the dividends belonging by results of financial investments and which are considered by method of equity participation;

insurance activity;

primary recognition and change of fair value of the biological assets connected with agricultural activities, and with primary recognition of agricultural products;

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