Approved by the Ministry of Finance of the Republic of Uzbekistan of November 2, 1998, No. 58

National Accounting standard of the Republic of Uzbekistan No. 17 NSBU "Works agreements on capital construction"

General provisions

1. This National Accounting Standard (NAS) is developed on the basis of the Law of the Republic of Uzbekistan "About financial accounting" and is element of system of normative regulation of financial accounting in the Republic of Uzbekistan.

Standard purpose

2. The purpose of this Standard is determination of technique of financial accounting of the income and expenses connected with agreements of construction contracts. To the main questions in accounting of works agreements income distribution and contract agreement costs as the dates of entry into force of the contract and its completion usually fall on the different accounting periods is. For determination of the moment when the income and agreement expenses of the contract be reflected in the report on financial results as the income and expenses, this Standard uses the recognition criteria established in the Principles of preparation and provision of the Financial reporting (NSBU "Conceptual Basis for Preparation and Provision of the Financial Reporting")

Coverage

3. This standard is applied by contractors to preparation and inclusion in the financial reporting of results on works agreements on capital construction.

This standard does not extend, on the builders subjects making capital construction for own needs (economic method) since they do not gain income from these activities, and all costs incurred by them are capitalized.

Determinations

4. The terms used in this Standard:

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