Approved by the Ministry of Finance of the Republic of Uzbekistan of August 25, 1998, No. 43

National Accounting standard of the Republic of Uzbekistan No. 3 NSBU "Report on financial results"

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 the description of Articles of the report on financial results and their classification for creation and representation by his all business entities on the general principles stated in the Law "About Financial Accounting" that will provide comparability of reporting data for different periods and with similar reports of other business entities.

3. The standard also determines procedure for disclosure of the income items and losses received from general economy (regular) activities and emergency situations from discontinued operation, changes in accounting assessment, changes in accounting policy and corrections of fundamental mistakes in the report on financial results.

Coverage

4. This NSBU is applied in case of preparation of the report on financial results by all business entities irrespective of patterns of ownership.

Determinations

5. The terms used in this Standard:

The extraordinary income (loss) represents the income or expenses which are resulting from events or transactions which obviously differ from regular activities of business entity, that is not happening often or regularly.

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