PROVISION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of December 16, 2015 No. 520-P

Industry standard of financial accounting by not credit financial credit institutions of events after the reporting period

This Provision based on the Federal Law of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)" (The Russian Federation Code, 2002, No. 28, Art. 2790; 2003, No. 2, Art. 157; No. 52, Art. 5032; 2004, No. 27, Art. 2711; No. 31, Art. 3233; 2005, No. 25, Art. 2426; No. 30, Art. 3101; 2006, No. 19, Art. 2061; No. 25, Art. 2648; 2007, No. 1, Art. 9, Art. 10; No. 10, Art. 1151; No. 18, Art. 2117; 2008, No. 42, Art. 4696, Art. 4699; No. 44, Art. 4982; No. 52, Art. 6229, Art. 6231; 2009, No. 1, Art. 25; No. 29, Art. 3629; No. 48, Art. 5731; 2010, No. 45, Art. 5756; 2011, No. 7, Art. 907; No. 27, Art. 3873; No. 43, Art. 5973; No. 48, Art. 6728; 2012, No. 50, Art. 6954; No. 53, Art. 7591, Art. 7607; 2013, No. 11, Art. 1076; No. 14, Art. 1649; No. 19, Art. 2329; No. 27, Art. 3438, Art. 3476, Art. 3477; No. 30, Art. 4084; No. 49, Art. 6336; No. 51, Art. 6695, Art. 6699; No. 52, Art. 6975; 2014, No. 19, Art. 2311, Art. 2317; No. 27, Art. 3634; No. 30, Art. 4219; No. 40, Art. 5318; No. 45, Art. 6154, No. 52, Art. 7543; 2015, No. 1, Art. 4, Art. 37; No. 27, Art. 3958, Art. 4001; No. 29, Art. 4348; No. 41, Art. 5639; No. 48, Art. 6699; 2016, No. 1, Art. 23, Art. 46, Art. 50; No. 26, Art. 3841; No. 27, the Art. 4225, the Art. 4273, the Art. 4295) and according to the solution of the Board of directors of the Bank of Russia (the minutes of the Board of directors of the Bank of Russia of December 11, 2015 No. 37) establish procedure for financial accounting of events after the reporting period for not credit financial credit institutions.

Chapter 1. General provisions

1.1. For the purpose of this provision the event after the reporting period admits the fact of economic life of not credit financial credit institution which occurs during the period between the end of the accounting period and date of creation of annual accounting (financial) accounts and which exerted or is capable to exert impact on its financial condition.

Date of creation of annual accounting (financial) accounts signature date of its copy on paper is considered the head of not credit financial credit institution.

1.2. Treat events after the reporting period:

the events confirming the conditions existing on reporting date (further - adjusting events after the reporting period);

the events testifying to the conditions which arose after the reporting period (further - non-adjusting events after the reporting period).

1.3. Adjusting events after the reporting period are subject to reflection in financial accounting according to Chapter 3 this provision.

1.4. Non-adjusting events after the reporting period in financial accounting of the accounting period are not reflected.

1.5. In case of creation of annual accounting (financial) accounts not credit financial credit institution estimates consequences of event after the reporting period in terms of money.

For assessment in terms of money of consequences of event after the reporting period not credit financial credit institution makes the corresponding calculations.

Reasons for such calculation shall be provided with not credit financial credit institution.

Chapter 2. Adjusting and non-adjusting events after the reporting period

2.1. Including treat adjusting events after the reporting period:

determination after the reporting period sizes of payments to creditors in connection with decision on the legal case confirming availability at not credit financial credit institution of the obligation on reporting date;

receipt of information after the reporting period, witnessing or about asset impairment on reporting date, or about need of adjustment of the reserve (loss) from impairment of this asset which is earlier recognized in accounting (financial) records, including receipt of information on recognition of debtors of not credit financial credit institution by insolvent (bankrupts);

the sale of inventories after reporting date showing that calculation of net realizable value of these inventories as of reporting date was unreasonable;

determination after the reporting period asset costs, acquired before the end of the accounting period;

determination after the reporting period sizes of payments to employees of not credit financial credit institution for plans (systems) of participation in profit or their awardings if as of reporting date not credit financial credit institution had obligation to perform such payments proceeding from requirements of local regulations and other internal documents, conditions of employment and (or) collective agreements;

charges (adjustments, changes) on taxes and fees for the accounting period on which in accordance with the legislation of the Russian Federation not credit financial credit institutions are taxpayers and payers of charges;

detection after the reporting period of mistake in financial accounting, violations of the law of the Russian Federation when implementing activities of not credit financial credit institution or the facts of fraud which lead to misstatement of annual accounting (financial) accounts of not credit financial credit institution and influence determination of financial result;

the paragraph of ceased to be valid according to the Instruction of the Central bank of the Russian Federation of 28.11.2016 No. 4221-U

revaluation of fixed assets and intangible assets as of the end of accounting year;

obtaining from insurance company of information on refining of the sizes of insurance indemnity on which as of reporting date negotiations were conducted;

determination after the reporting period sizes of payments in connection with acceptance to reporting date of the decision on closing of structural division of not credit financial credit institution;

obtaining after the reporting period the source documents confirming making of transactions to reporting date and (or) determining (specifying) cost works, services, assets on such transactions, and also the specifying amounts of the income and expenses reflected in financial accounting including recognition of losses on the insured events which came in the accounting period;

determination of the amounts of deferred tax liabilities and deferred tax assets on the income tax by the end of the reporting period;

distribution of result of investment of pension accruals and result of investment of funds of pension reserves by non-state pension funds.

2.2. The direction not credit financial credit institution arrived to dividend payout, forming (replenishment) of reserve fund and on other purposes in accordance with the legislation of the Russian Federation following the results of the annual accounting period is not adjusting event.

2.3. Including treat non-adjusting events after the reporting period:

acquisition or disposal of subsidiary after the reporting period;

announcement of the plan for the activities termination;

the transactions connected with acquisition and disposal essential on asset cost, classification of assets as held for sale;

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