It is registered
Ministry of Justice
On November 24, 2008 No. 12717
of November 24, 2008 No. 116n
About approval of the Accounting regulation "Accounting of Construction Contracts" (PBU 2/2008)
For the purpose of enhancement of normative legal regulation in the sphere of financial accounting and accounting records and according to the Regulations on the Ministry of Finance of the Russian Federation approved by the order of the Government of the Russian Federation of June 30, 2004 N 329 (The Russian Federation Code, 2004, N 31, Art. 3258; N 49, of Art. 4908; 2005, N 23, Art. 2270; N 52, of Art. 5755; 2006, N 32, Art. 3569; N 47, of Art. 4900; 2007, N 23, Art. 2801; N 45, of Art. 5491; 2008, N 5, to the Art. 411), I order:
1. Approve the enclosed Accounting regulation "Accounting of Construction Contracts" (PBU 2/2008).
Deputy Prime Minister of Russia Minister of Finance of the Russian Federation
A. L. Kudrin
Approved by the Order of the Ministry of Finance of the Russian Federation of October 24, 2008 No. 116n
1. This Provision establishes features of procedure for forming in financial accounting and disclosures in accounting records of information on the income, expenses and financial results by the organizations (except for credit institutions and the public (municipal) institutions), being legal entities by the legislation of the Russian Federation and acting as contractors or as subcontractors (further - the organizations) in construction contracts (further - the agreement) which duration of accomplishment constitutes more than one accounting years (long-term nature) or terms of the beginning and which terminations fall on different accounting years.
2. This Provision extends also to agreements of rendering services in the field of architecture, technical designing in construction and other services inseparably linked with object under construction, to performance of works on recovery of buildings, constructions, courts, on liquidation to their (dismantling), including the related recovery of the environment which duration of accomplishment constitutes more than one accounting years (long-term nature) or terms of the beginning and which terminations. fall on different accounting years.
2.1. This Provision can not be applied by the organizations which have the right to apply the simplified methods of financial accounting, including the simplified accounting (financial) records.
3. Financial accounting of the income, expenses and financial results is conducted separately under each performed agreement.
4. In case one agreement provides construction of complex of objects for one or several customers on the single project, for the purposes
financial accounting the construction of each object shall be considered as the separate agreement in case of observance of at the same time following conditions:
a) on construction of each object there is technical documentation;
b) the income and expenses can be authentically determined by each object.
5. Two and more agreements signed by the organization with one or several customers shall be considered for the purposes of financial accounting as one agreement in case of observance of at the same time following conditions:
a) owing to interrelation separate agreements actually belong to the single project with the profit margin determined in general by agreements;
b) agreements are performed at the same time or consistently (continuously following one by one).
6. In case in case of agreement performance the additional construction object (extra works) is brought in technical documentation, for the purposes of financial accounting the construction of additional object (accomplishment of extra works) shall be considered as the separate agreement in case of observance at least of one of the following conditions:
a) additional object (extra works) according to constructional, technical or functional characteristics significantly differs from the objects provided by the agreement;
b) the price of construction of additional object (extra works) is determined on the basis of the additional estimate approved by the parties.
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