RESOLUTION OF COUNCIL OF MINISTERS OF THE REPUBLIC OF BELARUS

of May 24, 2012 No. 480

About modification of the resolution of Council of Ministers of the Republic of Belarus of June 27, 2008 No. 950

For the purpose of rapprochement of the legislation of the Republic of Belarus with International accounting standards the Council of Ministers of the Republic of Belarus DECIDES:

1. Item 1 of the resolution of Council of Ministers of the Republic of Belarus of June 27, 2008 No. 950 "About some questions of cost determination of net assets" (The national register of legal acts of the Republic of Belarus, 2008, No. 160, 5/27939; 2011, 83, 5/34176) to state No. in the following edition:

"1. Determine that:

1.1. net assets value as difference between asset cost and obligations assumed to calculation is determined:

the commercial organizations (except banks, non-bank credit and financial, insurance companies and legal entities performing professional and exchange activity on securities) - for January 1 if other frequency is not established by the legislation;

insurance companies - on the first day of the first month of every quarter;

the legal entities performing professional and exchange activity on securities (except banks, the non-bank credit and financial organizations), - on the first day of every month;

1.2. procedure of payments the commercial organizations (except banks, the non-bank credit and financial organizations) net assets values, structure of the assets and liabilities accepted to calculation of the net assets value, taking into account features performed by these organizations of activities are determined by the Ministry of Finance.".

2. To the Ministry of Finance to bring the regulatory legal acts into accord with this resolution.

3. This resolution becomes effective in three months after its official publication, except for Item 2, of this resolution which is becoming effective from the date of official publication.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info