ORDER OF THE MINISTRY OF FINANCE OF THE RUSSIAN FEDERATION

of April 28, 2017 No. 69n

About introduction of amendments to the Accounting regulation "Accounting Policy of the Organization" (PBU 1/2008) approved by the Order of the Ministry of Finance of the Russian Federation of October 6, 2008 No. 106n

According to part 1 of article 30 of the Federal Law of December 6, 2011 No. 402-FZ "About financial accounting" (The Russian Federation Code, 2011, No. 50, Art. 7344; 2014, No. 45, the Art. 6154) and the Program of the development of federal accounting standards for 2016 - 2018 approved by the order of the Ministry of Finance of the Russian Federation of May 23, 2016 No. 70n (registration No. 42294) is registered by the Ministry of Justice of the Russian Federation on May 26, 2016, I order:

make the enclosed changes to the Accounting regulation "Accounting Policy of the Organization" (PBU 1/2008) approved by the order of the Ministry of Finance of the Russian Federation of October 6, 2008 No. 106n (registration No. 12522) is registered by the Ministry of Justice of the Russian Federation on October 27, 2008, with the changes made by orders of the Ministry of Finance of the Russian Federation of March 11, 2009 No. 22n (registration No. 13688) is registered by the Ministry of Justice of the Russian Federation on April 6, 2009, of October 25, 2010 No. 132n (registration No. 19048) is registered by the Ministry of Justice of the Russian Federation on November 25, 2010, of November 8, 2010 No. 144n (registration No. 19088) is registered by the Ministry of Justice of the Russian Federation on December 1, 2010, of April 27, 2012 No. 55n (it is registered by the Ministry of Justice of the Russian Federation on June 20, 2012, registration No. 24643), of December 18, 2012 No. 164n (registration No. 27109) is registered by the Ministry of Justice of the Russian Federation on February 15, 2013, of April 6, 2015 No. 57n (registration No. 37103) is registered by the Ministry of Justice of the Russian Federation on April 30, 2015.

Appendix

to the Order of the Ministry of Finance of the Russian Federation of April 28, 2017 No. 69n

Changes in the Accounting regulation "Accounting Policy of the Organization" PBU 1/2008, approved by the Order of the Ministry of Finance of the Russian Federation of October 6, 2008 No. 106n

1. In paragraph one of Item 1 of the word of "the public (municipal) institutions" shall be replaced with words "the organizations of public sector".

2. Add with Item 5.1 of the following content:

"5.1. The organization chooses methods of conducting financial accounting irrespective of the choice of methods of conducting financial accounting by other organizations. If the main society approves the accounting standards obligatory to application by its subsidiary, that such subsidiary chooses methods of conducting financial accounting proceeding from the specified standards.".

3. Item 6 in paragraph seven after the word of "organization" to add with words ", and also proceeding from ratio of costs for forming of information on specific object of financial accounting and usefulness (value) of this information".

4. State Item 7 in the following edition:

"7. Account of specific object of financial accounting is kept by the method established by federal accounting standard. If on specific question of conducting financial accounting the federal accounting standard allows several methods of conducting financial accounting, the organization performs the choice of one of these methods, being guided by Items 5, of the 5.1 and 6 this provision.

The organization which opens the consolidated financial statements constituted according to International Financial Reporting Standards or the financial reporting of the organization which is not creating the group having the right to be guided when forming accounting policy by federal accounting standards taking into account requirements of International accounting standards. In particular, such organization has the right not to apply the method of conducting financial accounting established by federal accounting standard when such method results in discrepancy of accounting policy of the organization to requirements of International accounting standards.".

5. Add with Items 7. 1, 7.2, 7.3, 7.4 of the following content:

"7.1. If on specific question of conducting financial accounting in federal accounting standards methods of conducting financial accounting are not established, the organization develops the corresponding method proceeding from the requirements established by the legislation of the Russian Federation on financial accounting, federal and (or) industry standards. At the same time the organization, based on the assumptions and requirements provided in Items 5 and 6 of this provision uses consistently following documents:

a) international accounting standards;

b) provisions of federal and (or) industry standards of financial accounting on similar and (or) connected questions;

c) recommendations in the field of financial accounting.

7.2. The organization which has the right to apply the simplified financial accounting methods including the simplified accounting (financial) records, in case of absence in federal accounting standards of the corresponding methods of conducting financial accounting on specific question has the right to create accounting policy, being guided is exclusive the requirement of rationality.

7.3. In exceptional cases, when forming of accounting policy according to Items 7 and 7.1 of this provision leads to doubtful representation of financial position of the organization, financial results of its activities and movement of its money in accounting (financial) records, the organization has the right to depart from the rules established by these Items in case of observance of all following conditions:

a) the circumstances interfering forming of fair presentation about its financial position, financial results of activities and cash flow in accounting (financial) records are determined;

b) the alternative method of conducting financial accounting which application allows to eliminate the specified circumstances is possible;

c) the alternative method of conducting financial accounting does not lead to emergence of other circumstances under which the accounting (financial) records of the organization will give doubtful idea of its financial position, financial results of activities and cash flow;

d) information on departure from the rules established by Items 7 and 7.1 of this provision, and application of alternative method of conducting financial accounting reveals the organization according to this Provision.

7.4. In that degree in which application of the accounting policy created according to Items 7 and 7.1 of this provision leads to forming of information on availability, absence or method of reflection of which in accounting (financial) records of the organization economic decisions of users of this reporting do not depend (further - insignificant information), the organization has the right to choose method of conducting financial accounting, being guided is exclusive the requirement of rationality (without application of Items 7, 7.1 this provision). The organization performs reference of information to insignificant independently proceeding as from size, and nature of this information.".

6. In Item 8 after the word "orders" to add with words ", standards".

7. In paragraph three of Item 10 of the word "more fair presentation of the facts of economic activity in financial accounting and the reporting of the organization or smaller labor input of accounting process without decrease in degree of accuracy of the information" shall be replaced with words "improvement of quality of information on object of financial accounting".

8. In the paragraph the second Item 15 of the word "for the early period which is most provided in accounting records" shall be replaced with words "and (or) other balance sheet items for the early date which is most provided in accounting (financial) records".

9. State Item 17 in the following edition:

"17. The organization shall open the methods of conducting financial accounting accepted when forming accounting policy without knowledge of which application by the interested users of accounting (financial) records reliable assessment of financial position of the organization, financial results of its activities and (or) cash flow is impossible.".

10. In the paragraph the second Item 18 of the word "accounting regulations" shall be replaced with words "federal accounting standards".

11. Add with Items 20. 1, 20.2 following of content:

"20.1. The organization creating accounting policy according to the paragraph the second Item 7 of this provision shall describe such method concerning each method of conducting the financial accounting established by federal accounting standard which is not applied by it, and also to open the relevant requirement of the International accounting standard and to describe how this requirement will be violated in case of application of method of conducting the financial accounting established by federal accounting standard.

20.2. The organization which applied Item 7.3 of this provision when forming accounting policy shall open:

the name of the federal accounting standard establishing method of conducting financial accounting from which application the organization departed with the short description of this method;

circumstances as a result of which application of the rules established by Items 7 and 7.1 of this provision leads to the fact that the accounting (financial) records of the organization do not allow to gain fair presentation about its financial position, financial results of activities and cash flow and the reasons of approach of these circumstances;

content of alternative method of conducting the financial accounting applied by the organization and explanation how this method eliminates unauthenticity of representation of financial position of the organization, financial results of its activities and cash flow;

values of all indicators of accounting (financial) records of the organization which were changed as a result of departure from the rules established by Items 7 and 7.1 of this provision as though departure was not made, and the size of adjustment of each indicator.".

12. State Item 23 in the following edition:

"23. If the regulatory legal act on financial accounting provides possibility of voluntary application approved by it governed before the term of their obligatory application, the organization when using such opportunity shall open this fact in accounting (financial) records.".

13. In Item 24:

a) in paragraph one:

"to the explanatory note which is part" to exclude words;

after the word "accounting" to add with the word "(financial)";

b) in the paragraph the second ambassador of the word "accounting" to add with the word "(financial)".

14. Declare Item 25 invalid.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info