ORDER OF THE MINISTRY OF FINANCE OF THE RUSSIAN FEDERATION

of July 2, 2002 No. 66n

About approval of the Accounting regulation "Information on the Stopped Activities" PBU 16/02

In pursuance of the Program of reforming of financial accounting according to international accounting standards approved by the order of the Government of the Russian Federation of March 6, 1998 N283 (The Russian Federation Code, 1998, N 11, to the Art. 1290), I order:

1. Approve the enclosed Accounting regulation "Information on the Stopped Activities" PBU 16/02.

2. Enact this order since January 1, 2003.

Approved by the Order of the Ministry of Finance of the Russian Federation of July 2, 2002 No. 66n

The accounting regulation "Information on the stopped activities of PBU 16/02

I. General provisions

1. This Provision establishes procedure for disclosure of information on the stopped activities in accounting records of the commercial organizations (except credit institutions), being legal entities by the legislation of the Russian Federation.

This Provision is also applied by the organization in case of creation of summary accounting records.

2. This Provision determines requirements for disclosure of information on the stopped activities in accounting records of the organization.

3. This Provision is not applied by the organization in case of the termination of activities owing to the circumstances having extreme character (natural disaster, the fire, accident, etc.) owing to forced withdrawal of property on the bases, stipulated by the legislation, and also owing to the address of property to state-owned property (nationalization).

3.1. This Provision can not be applied by the organizations which have the right to apply the simplified methods of conducting financial accounting, including the simplified accounting (financial) records.

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