Approved by the Ministry of Finance of the Republic of Uzbekistan of December 3, 1998, No. 64

National Accounting standard of the Republic of Uzbekistan No. 11 NSBU of "Costs for research and developmental developments"

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.

Purpose

2. The purpose of this standard is determination of accounting method of costs for research and developmental developments. The main question of the cost accounting on research and developmental developments consists in recognition of such costs as asset or expense. Recognition criteria are determined in the Conceptual basis of preparation and accounts presentation.

Coverage

3. This standard is applied in case of the cost accounting on research and developmental developments.

4. This Standard is not applied to costs on investigation and development of oil, gas and mineral fields in the extracting industries. However it is applied to costs for other researches and developments in these industries.

5. The business entity can conduct researches and developments under the contract for other business entity. When under the terms of the contract all risks and benefits connected with researches and developments are transferred or will be transferred to other subject, the business entity performing these activities records costs according to NSBU "Inventory stocks", or NSBU "Works Agreements on Capital Construction". The business entity bearing risks, and receiving benefits from these activities considers these costs according to this standard.

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