RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF BELARUS

of December 20, 2001 No. 127

About approval of the Instruction about reflection in financial accounting of economic activities with fixed assets

In pursuance of Item 1 of the actions plan on ensuring transition to new conditions of the depreciation of fixed assets and intangible assets approved by the resolution of Council of Ministers of the Republic of Belarus of November 16, 2001 No. 1668 "About measures for ensuring transition to new conditions of depreciation" the Ministry of Finance of the Republic of Belarus decides:

1. Approve the enclosed Instruction about reflection in financial accounting of economic activities with fixed assets.

2. This resolution becomes effective since January 1, 2002.

Approved by the Resolution of the Ministry of Finance of the Republic of Belarus of December 20, 2001 No. 127

The instruction about reflection in financial accounting of economic activities with fixed assets

CHAPTER 1 GENERAL PROVISIONS

1. The instruction about reflection in financial accounting of economic activities with fixed assets (further - the Instruction) determines procedure for the organization of fixed asset accounting and reflection on accounts of financial accounting of economic activities in commercial and non-profit organizations (excepting the banks, other non-bank credit and financial organizations, the organizations financed from the budget (state-financed organizations) at the individual entrepreneurs who made the decision on conducting financial accounting (further - the organizations).

This Instruction is applied taking into account the Instruction for financial accounting of fixed assets approved by the resolution of the Ministry of Finance of the Republic of Belarus of December 12, 2001 No. 118 (The national register of legal acts of the Republic of Belarus, 2002, No. 10, 8/7602; 2008, No. 29, 8/18048).

Based on this Instruction and other regulatory legal acts of the Ministry of Finance of the Republic of Belarus for financial accounting and the reporting of the organization develop the local legal acts necessary for the organization of fixed asset accounting and control of their use.

2. Acceptance to financial accounting of property as fixed assets is performed according to the procedure, established by the Instruction for financial accounting of fixed assets.

3. Financial accounting of fixed assets is kept for the purpose of:

the correct document creation and timely reflection in financial accounting of receipt of fixed assets, their internal transfer and disposal;

forming of the actual costs connected with acceptance of assets as fixed assets to financial accounting;

timely and complete reflection in financial accounting of fixed asset depreciation;

reliable and complete definition of results of realization and other disposal of fixed assets;

complete definition of the costs connected with content and carrying out all types of repairs of fixed assets;

complete definition of costs for carrying out upgrade, reconstruction, partial liquidation, additional equipment, completion, including by results of the carried-out technical diagnosing and the corresponding survey of fixed asset objects;

ensuring control of safety of the fixed assets accepted to financial accounting;

carrying out analysis of use of fixed assets;

receipts of information on fixed assets necessary for disclosure in accounting records.

4. The basis for registration on accounts of financial accounting of economic activities with fixed assets are source accounting documents confirming the fact of making of economic activity.

5. To accounting of movement of fixed assets as source accounting documents by the organizations apply the forms of primary accounting documentation approved by the resolution of the Ministry of Finance of the Republic of Belarus of December 8, 2003 No. 168 "About approval of standard forms of primary accounting documentation on fixed asset accounting and intangible assets and the Instruction about procedure for filling of forms of standard forms of source accounting documents on fixed asset accounting and intangible assets" (The national register of legal acts of the Republic of Belarus, 2004, No. 19, 8/10449).

For accounting of movement of long-term plantings as source accounting document the delivery-acceptance certificate of long-term plantings and their input in operation in form 101-APK and as the document of analytics - the inventory accounting card of long-term plantings in form 105-APK, the Ministries of Agriculture and Food of the Republic of Belarus approved by the resolution of November 22, 2005 No. 69 is subject to application (The national register of legal acts of the Republic of Belarus, 2006, No. 23, 8/13795).

In the inventory card filled by sight long-term plantings the planting type, quantity of the landed units and the area of growth of long-term plantings is specified.

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