ORDER OF THE MINISTRY OF FINANCE OF UKRAINE

of January 31, 2000 No. 20

About approval of the National provision (standard) of the financial accounting 11 "Obligations"

In pursuance of the Program of reforming of the system 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 11 "Obligations" (further - the Provision (standard) 11) 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) 11 becomes effective since July 1, 2000.

3. Provide that other regulations of the Ministry of Finance of Ukraine on financial accounting are effective in part which does not contradict the National provision (standard) 11.

Approved by the Order of the Ministry of Finance of Ukraine of January 31, 2000 No. 20

National provision (standard) of the financial accounting 11 "Obligations"

General provisions

1. This National provision (standard) determines methodological bases of forming in financial accounting of information on the obligation 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).

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