ORDER OF THE MINISTRY OF FINANCE OF UKRAINE

of June 13, 2017 No. 571

About approval of Changes in some regulatory legal acts on financial accounting in public sector

According to Article 56 of the Budget code of Ukraine, article 6 of the Law of Ukraine "About financial accounting and the financial reporting in Ukraine" and to the subitem 5 of item 4 of the Regulations on the Ministry of Finance of Ukraine approved by the resolution of the Cabinet of Ministers of Ukraine of August 20, 2014 No. 375, I order:

1. Approve Changes in some regulatory legal acts on financial accounting in public sector which are attached.

2. In accordance with the established procedure to provide to department of forecasting of budget receipts and methodology of financial accounting: provision of this order on state registration in the Ministry of Justice of Ukraine; promulgation of this order.

3. This order becomes effective from the date of its official publication.

4. I reserve control of execution of this order.

Approved by the Order of the Ministry of Finance of Ukraine of June 13, 2017 No. 571

Changes in some regulatory legal acts on financial accounting in public sector

1. In Item 5 of the Section VI of the National provision (standard) of the financial accounting in public sector 121 "Fixed assets" approved by the order of the Ministry of Finance of Ukraine of October 12, 2010 No. 1202, registered in the Ministry of Justice of Ukraine on November 1, 2010 for No. 1017/18312 (with changes):

add paragraph one with the new offer of such content: "The fixed assets received as a result of write-off will be credited with reflection on accounts of financial accounting of fixed assets.";

in paragraph four to replace the word of "materials" with the word of "assets".

2. In the Section IV of the National provision (standard) of the financial accounting in public sector 123rd "Inventories" approved by the order of the Ministry of Finance of Ukraine of October 12, 2010 No. 1202, registered in the Ministry of Justice of Ukraine on November 1, 2010 for No. 1019/18314 (with changes):

in Item 1:

in paragraph four of the word and figure" (except MBP which transfer is reflected according to Item 9 of these rules)" to exclude;

word in paragraph five" (except MBP)" to exclude.

3. Add subitem 3.10 of Item 3 of the Section II of the National provision (standard) of the financial accounting in public sector 124th "Income" approved by the order of the Ministry of Finance of Ukraine of December 24, 2010 No. 1629, registered in the Ministry of Justice of Ukraine on January 20, 2011 for No. 89/18827 (with changes), words "(except accounts payable which term of limitation period expired)".

4. In the National provision (standard) of financial accounting in the public sector 135th "Expenses" approved by the order of the Ministry of Finance of Ukraine of May 18, 2012 No. 568, registered in the Ministry of Justice of Ukraine on June 6, 2012 at No. 903/21215 (with changes):

in paragraph three of Item 3 of the Section II of the word "receivables are written off" to exclude;

the Section III to state item 4 in the following edition:

"4. Expenses on not exchange transactions are recognized along with asset retirement (money, goods, works, services) that leads to reduction of the future economic benefits and/or potential of usefulness connected with use of this asset and provided that these expenses can be authentically estimated.".

5. In the class 7 "Income" of the Section I "Balance sheet accounts" of the Chart of accounts of the financial accounting in public sector approved by the order of the Ministry of Finance of Ukraine of December 31, 2013 No. 1203, registered in the Ministry of Justice of Ukraine on January 25, 2014 at No. 161/24938 (with changes):

in account 71 "Income from sales of products (works, services)":

add sub-account 711 "The income from sales of products (works, services) of managers of budgetary funds as" new sub-account 7112 "The income from receipt of the assets which are earlier not considered in balance";

add sub-account 712 "The income from sales of products (works, services) of the state trust funds as" new sub-account 7122 "The income from receipt of the assets which are earlier not considered in balance";

add sub-account 751 "The income on not exchange transactions of managers of budgetary funds of account 75 "The income on not exchange transactions" with new sub-account 7512 "Transfers".

6. In the Section I "Balance sheet accounts" of the Procedure for application of the Chart of accounts of the financial accounting in public sector approved by the order of the Ministry of Finance of Ukraine of December 29, 2015 No. 1219, registered in the Ministry of Justice of Ukraine on January 16, 2016 at No. 85/28215 (with changes):

to add account 18 "Other non-financial assets" of class 1 "Non-financial assets" after the paragraph of the nineteenth with the new paragraph of the following content:

"Office supplies (paper, pencils, etc.)".

With respect thereto the twentieth - twenty third to consider paragraphs respectively paragraphs the twenty first - the twenty fourth;

in the class 7 "Income":

in account 71 "Income from sales of products (works, services)":

add after the paragraph of the fourth with the new paragraph of the following content:

"7112 (7122) "The income from receipt of the assets which are earlier not considered in balance";".

With respect thereto the fifth - the seventh to consider paragraphs respectively paragraphs the sixth - the eighth;

add after the paragraph of the seventh with the new paragraph of the following content:

"On sub-account 7112 (7122) "The income from receipt of the assets which are earlier not considered in balance" is recorded the income from receipt of the fixed assets, other non-current tangible assets, intangible assets, production supplies, MBP and other non-financial assets revealed as a result of inventory count, received as a result of dismantle, received as a result of write-off of property, etc. and will be used for needs of organization.".

With respect thereto to consider the paragraph of the eighth the paragraph the ninth;

in account 75 "The income on not exchange transactions":

add paragraph one after words "obligations, not due for settlement with" words "(except accounts payable which term of limitation period expired)";

to state the paragraph of the sixth in the following edition:

"7512 (7522) "Transfers";";

in the paragraph the thirteenth words", including increase in the income at the amount of receipt of assets which were not considered in balance earlier" is reflected shall be replaced with words "(except accounts payable which term of limitation period expired)";

add after the paragraph of the thirteenth with the new paragraph of the following content:

"On sub-account 7512 "Transfers" it is recorded by managers of budgetary funds of the receipts connected with transfer of the amounts of transfers, and the means received for accomplishment of target actions.".

With respect thereto the fourteenth - the twentieth to consider paragraphs respectively paragraphs the fifteenth - the twenty first;

in account 85 "Expenses on not exchange transactions" of the class 8 "Expenses":

word in paragraph one "written off receivables," to exclude;

word in paragraph eleven", written off receivables" to exclude.

7. In the Standard correspondence of sub-accounts of financial accounting for reflection of transactions with assets, the capital and obligations managers of budgetary funds and the state trust funds approved by the order of the Ministry of Finance of Ukraine of December 29, 2015 No. 1219, registered in the Ministry of Justice of Ukraine on January 16, 2016 for No. 86/28216:

Sections 1 - 3 to state in the following edition:

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