ORDER OF THE MINISTRY OF FINANCE OF THE RUSSIAN FEDERATION

of November 25, 1998 No. 56n

About approval of the Accounting regulation "Events after Reporting Date" (PBU 7/98)

According to 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 N 283, and in pursuance of the order of the Government of the Russian Federation of May 22, 1998 I order to N587-r:

1. Approve the enclosed Accounting regulation "Events after Reporting Date" (PBU 7/98).

2. Enact this order since January 1, 1999.

Approved by the Order of the Ministry of Finance of the Russian Federation of November 25, 1998 No. 56n

Accounting regulation "Events after Reporting Date" PBU 7/98

1. General provisions

1. This Provision establishes procedure for reflection in accounting records of the commercial organizations (except credit institutions), being legal entities by the legislation of the Russian Federation, events after reporting date.

2. Ceased to be valid according to the Order of the Ministry of Finance of the Russian Federation of 06.04.2015 No. 57n.

2. Concept of events after reporting date

3. The event after reporting date admits the fact of economic activity which exerted or can exert impact on financial condition, cash flow or results of organization activity and which took place during the period between reporting date and signature date of accounting records for accounting year.

Event after reporting date also the announcement of annual dividends by results of activities of joint-stock company for accounting year is recognized.

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