RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF UZBEKISTAN, MINISTRY OF THE AGRICULTURAL AND WATER ECONOMY OF THE REPUBLIC OF UZBEKISTAN

of January 21, 2008 No. No. 1, 1/2

About approval of the Regulations on the organization of the simplified system of financial accounting in farms

According to the Laws of the Republic of Uzbekistan "About farm" and "About financial accounting" the Ministry of Finance of the Republic of Uzbekistan and the Ministry of agricultural and water economy of the Republic of Uzbekistan decide:

1. Approve the enclosed Regulations on the organization of the simplified system of financial accounting in farms.

2. This resolution becomes effective after ten days from the moment of its state registration in the Ministry of Justice of the Republic of Uzbekistan.

Minister of Finance

R. Azimov

Minister of agricultural and water economy

S.Ismoilov

Approved by the Resolution of the Ministry of Finance of the Republic of Uzbekistan, the Ministry of agricultural and water economy of the Republic of Uzbekistan of January 21, 2008 No. No. 1, 1/2

Regulations on the organization of the simplified system of financial accounting in farms

This Provision regulates procedure for the organization of the simplified system of financial accounting in farms and submissions of the financial reporting by them.

I. General provisions

1. Action of this provision extends to the farms performing production of agricultural products, storage, conversion and realization of self-produced agricultural products including through own retail chain stores.

2. When implementing other types of activity farms keep financial accounting on these types of activity separately according to the legislation.

3. This Provision is effective along with the accounting rules and the reporting established by the Law of the Republic of Uzbekistan "About financial accounting", National accounting standards of the Republic of Uzbekistan (further - NSBU) and other regulatory legal acts.

II. Organization of financial accounting

4. Responsibility for the organization of financial accounting is conferred on the head of farm (further - the farmer). At the same time the farmer has the right:

a) create service of financial accounting under the leadership of the chief accountant or use services of the accountant involved on contractual conditions;

b) delegate on contractual conditions conducting financial accounting of the specialized organization (auditing organizations, the organizations of tax consultants and other organizations in which charter rendering service in conducting financial accounting is provided);

c) to independently keep financial accounting.

5. The option of procedure for the simplified conducting financial accounting is granted to farms on voluntary basis.

III. Maintaining the simplified system of financial accounting

6. Farms independently create accounting policy proceeding from requirements of the economic activity. Financial accounting is kept by farms according to the unified methodological bases and procedure established by the legislation.

At the same time the farm can independently adapt the applied bookkeeping registers for specifics of the work in case of observance of the following requirements:

a) unified methodological basis (principle of double record);

b) interrelation of data of analytical and synthetic accounting;

c) continuous reflection of all economic activities in registers of accounting based on source accounting documents;

d) accumulation and systematization of these source accounting documents by the indicators necessary for management, control and the analysis of economic activity of farm, and also for creation of the financial reporting.

7. The basis for conducting financial accounting of economic activities in farms are source accounting documents fixing the facts of making of transactions, and orders on their carrying out.

In farms source accounting documents are constituted at the time of making of economic activities or directly (without delay) after their carrying out.

8. Obligatory details of source accounting documents constituted in farms, procedure for their creation, acceptance, storage and reflection in financial accounting and also procedure of document flow are regulated according to article 14 of the Law of the Republic of Uzbekistan "About financial accounting" both Regulations on documents and document flow in financial accounting (рег. No. 3538 of July 30, 2024).

9. Source accounting documents are constituted on the standard forms established by the legislation or on the forms developed and approved by farms with observance of requirements of this provision.

10. Source accounting documents arriving in farm are subject to obligatory check. At the same time check is performed in form (completeness and correctness of document creation, filling of details), on content (legality of documentary transactions, logical coordination of separate indicators).

11. For the organization of accounting for the simplified form the farm constitutes the working Chart of accounts of financial accounting of economic activities which will allow to record means and sources according to key accounts and by that to provide control of availability and safety of property, accomplishment of obligations and accuracy of the data of financial accounting.

Farms constitute the working Chart of accounts of financial accounting of economic activities according to the National accounting standard of the Republic of Uzbekistan (No. NSBU 21) "The chart of accounts of financial accounting of business entities and the Instruction for its application" (рег. No. 3593 of December 27 2024) and the standard Chart of accounts of financial accounting of financial and economic activities of farms according to appendix No. 1 to this Provision. The working Chart of accounts of financial accounting of economic activities shall be reflected in accounting policy of farm according to the procedure, established by the legislation.

12. The simplified financial accounting form in farms can be conducted on:

a) to simple form of financial accounting;

b) to the combined financial accounting form.

13. The farm independently chooses the financial accounting form given in this Provision proceeding from requirements of the production and management.

14. Irrespective of the chosen financial accounting form, economic activities for the accounting period are subject to registration (are fixed) in chronological procedure in the Magazine of registration of economic activities, according to appendix No. 2 to this Provision.

The magazine of registration of economic activities is kept in the form of the book in which registration and accounting of economic activities are conducted for the accounting period by months or quarters. At the same time the Magazine of registration of economic activities shall be strung together and numbered. On the last leaf of the Magazine of registration of economic activities signed by the farmer entry "In this Magazine is made it is numbered... sheets". The number of sheets is specified in cursive script.

IV. Simple form of financial accounting

15. For conducting analytical and synthetic accounting of objects of financial accounting in farms the register "Book of Accounting of Economic Activities" according to appendix No. 3 to this Provision is used. The book of accounting of economic activities is kept in the form of the book in which account of transactions is kept for all accounting year. At the same time the Book of accounting of economic activities shall be strung together and numbered. On the last leaf of the Book of accounting of economic activities signed by the farmer entry "In this Book is made it is numbered... "sheets". The number of sheets is specified in cursive script.

16. In the Book of accounting of economic activities results of economic activities are reflected in accounts of assets, obligations, equity, the income, expenses, profits and losses.

17. In the Book of accounting of economic activities of record are performed in systematic procedure based on information provided in the Magazine of registration of economic activities.

18. The book of accounting of economic activities is the combined register which contains all business accounts applied to farms and allows to record economic activities on each of them. At the same time it shall be rather detailed for reasons for contents of the corresponding balance sheet items. In the Book of accounting of economic activities certain number of pages proceeding from the expected amount of economic activities taking into account experiment of previous years on the specific accounting account is distinguished for each used accounting account.

19. The book of accounting of economic activities opens records at line "Remaining Balance on " _" ____ 20_g." the amounts of remaining balance for the beginning of the accounting period on each asset type, obligations and equity according to which they are available. Remaining balance according to active accounts register on the debit of these accounts, and according to passive accounts - the trusted accounts.

20. In every line on the corresponding accounting account of record are performed in the chronological sequence by position method based on information of accounting entries provided in the Magazine of registration of economic activities.

21. At the end of every month (quarter) in the Book of accounting of economic activities the results based on which the result of activities of farm is determined are summed up.

The account balances of accounting of assets, obligations and equity removed in the Book of accounting of economic activities are transferred to the balance sheet.

The turnovers according to income accounts and expenses for the accounting period removed in the Book of accounting of economic activities are transferred to the report on financial results.

V. The combined financial accounting form

22. Financial accounting on the basis of the combined form is performed with use of several accounting registers (accounting sheets). Entries in accounting sheets are performed based on information provided in the Magazine of registration of economic activity and source accounting documents.

23. When maintaining the combined form of financial accounting the following accounting sheets of financial accounting are used:

a) the sheet of fixed asset accounting and intangible assets according to appendix No. 4 to this Provision;

b) the sheet of accounting of financial investments according to appendix No. 5 to this Provision;

c) the sheet of accounting of capital investments according to appendix No. 6 to this Provision;

d) the sheet of accounting of inventory stocks according to appendix No. 7 to this Provision;

e) the sheet of accounting of animals on cultivation and fattening according to appendix No. 8 to this Provision.

e) the sheet of accounting of settlings with buyers and customers according to appendix No. 9 to this Provision;

g) the sheet of accounting of other receivables according to appendix No. 10 to this Provision;

h) the sheet of the cash accounting according to appendix No. 11 to this Provision;

i) the sheet of accounting of settlings with suppliers and contractors according to appendix No. 12 to this Provision;

j) the sheet of accounting of settlings with advance holders according to appendix No. 13 to this Provision;

k) the sheet of accounting of calculations for compensation according to appendix No. 14 to this Provision;

l) the sheet of accounting of other obligations according to appendix No. 15 to this Provision;

m) the sheet of accounting of equity according to appendix No. 16 to this Provision;

o) the sheet of the cost accounting (expenses) of the accounting period according to appendix No. 17 to this Provision;

o) the sheet of the cost accounting on production and crop production production yield according to appendix No. 18 to this Provision;

p) the sheet of the cost accounting on production and livestock production production yield according to appendix No. 19 to this Provision;

c) the sheet of the cost accounting and services of auxiliary production according to appendix No. 20 to this Provision;

r) the sheet of calculation of net profit (loss) according to appendix No. 21 to this Provision;

s) the summary sheet of accounting of economic activities according to appendix No. 22 to this Provision;

24. Each sheet is applied to accounting of transactions on one or several of the used business accounts.

The amount of each economic activity registers in two sheets at the same time: in one - on the debit of the account with indication of number of the credited account (in the column "Corresponding account"), and in another - on the credit of the corresponding account and with similar record of number of the debited account. In both sheets according to the corresponding columns of record are performed based on information on essence of the committed transaction given in the Magazine of registration of economic activities and source accounting documents.

In sheets which contain information on remaining balance accounting entries for the beginning of the accounting period begin by transferring of remaining balance for the end of previous period on the corresponding accounts.

Remaining balance of accounts of assets, obligations and equity in separate sheets shall be verified with the relevant data source accounting documents based on which records were made (cash reports, bank statements, etc.).

25. The sheet of fixed asset accounting and intangible assets is the register of analytical and synthetic accounting of availability and movement: fixed assets according to accounts of fixed assets (0100) and according to accounts of the fixed assets received in finance lease (0300), intangible assets according to accounts of intangible assets (0400), depreciation, respectively, according to accounts of depreciation of fixed assets (0200) and according to accounts of depreciation of intangible assets (0500).

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