of November 30, 2018 No. 73
About financial accounting of finance lease (leasing)
Based on the paragraph of the fourth Item 5 of article 5 of the Law of the Republic of Belarus of July 12, 2013 "About financial accounting and the reporting" the Ministry of Finance of the Republic of Belarus DECIDES: No. 57-Z
1. Approve the National accounting standard and the reporting "Finance lease (leasing)" it (is applied).
2. Determine that the organizations (except for National Bank of the Republic of Belarus, banks, "Development Bank of the Republic of Belarus" open joint stock company, the non-bank credit and financial organizations, banking groups, bank holdings, state-financed organizations) have the right to apply the National accounting standard and the reporting "Finance lease (leasing)" approved by this resolution to all agreements of finance lease (leasing) existing as of January 1, 2019.
the resolution of the Ministry of Finance of the Republic of Belarus of April 30, 2004 No. 75 "About approval of the Instruction about procedure for financial accounting of leasing transactions" (The national register of legal acts of the Republic of Belarus, 2004, No. 87, 8/10999);
the resolution of the Ministry of Finance of the Republic of Belarus of July 23, 2004 No. 114 "About modification and amendments in the resolution of the Ministry of Finance of the Republic of Belarus of April 30, 2004 No. 75" (The national register of legal acts of the Republic of Belarus, 2004, No. 122, 8/11304);
the resolution of the Ministry of Finance of the Republic of Belarus of July 7, 2005 No. 89 "About modification and amendments in some regulatory legal acts of the Ministry of Finance of the Republic of Belarus concerning financial accounting" (The national register of legal acts of the Republic of Belarus, 2005, No. 120, 8/12927);
the resolution of the Ministry of Finance of the Republic of Belarus of September 30, 2009 No. 123 "About modification and amendments in the resolution of the Ministry of Finance of the Republic of Belarus of April 30, 2004 No. 75" (The national register of legal acts of the Republic of Belarus, 2009, No. 305, 8/21722);
the resolution of the Ministry of Finance of the Republic of Belarus of July 2, 2010 No. 84 "About entering of amendment and changes into the resolution of the Ministry of Finance of the Republic of Belarus of April 30, 2004 No. 75" (The national register of legal acts of the Republic of Belarus, 2010, No. 185, 8/22617);
Item 5 of appendix to the resolution of the Ministry of Finance of the Republic of Belarus of April 30, 2012 No. 25 "About some questions of financial accounting" (The national legal Internet portal of the Republic of Belarus, 04.09. 2012, 8/26354).
4. This resolution becomes effective since January 1, 2019.
Deputy minister
A. M. Belkovets
Approved by the Resolution of the Ministry of Finance of the Republic of Belarus of November 30, 2018 , No. 73
1. This National standard determines procedure for forming in financial accounting of information on the assets, obligations, the income, expenses arising when making economic activities under agreements of finance lease (leasing) (further - leasing), in the organizations (except for National Bank, banks, "Development Bank of the Republic of Belarus" open joint stock company, the non-bank credit and financial organizations, banking groups, bank holdings, state-financed organizations) (further - the organizations).
2. For the purposes of this National standard terms and their determinations in the values determined by the Civil code of the Republic of Belarus, the Presidential decree of the Republic of Belarus of February 25, 2014 No. 99 "About questions of regulation of leasing activities", the Rules of implementation of leasing activities approved by the resolution of Board of National Bank of the Republic of Belarus of August 18, 2014 No. 526, and also the following terms and their determinations are used:
long-term leasing - leasing in case of which the lessor provides to the leasing recipient leasing subject in temporary ownership and use of the agreement of leasing for the term of at least one year;
short-term leasing - leasing in case of which the lessor provides to the leasing recipient leasing subject in temporary ownership and use of the agreement of leasing for the term of less than one year.
Leasing is classified as long-term or short-term leasing for date of the conclusion of the agreement of leasing.
3. Investment expenses of the lessor taking into account which the leasing subject cost according to the legislation on leasing activities is determined are reflected on the debit of account 08 "Investments in non-current assets" (the score 08-3 "Acquisition of objects of finance lease (leasing)") and the credit of accounts 10 "Materials", 60 "Settlings with suppliers and contractors", 69 "Calculations for social insurance and providing", 70 "Settlings with personnel on compensation", 76 "Settlings with different debtors and creditors" and other accounts.
4. The investment expenses of the lessor creating original cost of subject of leasing are reflected on the debit of account 03 "Profitable investments in tangible assets" (the score 03-2 "Objects of finance lease (leasing)") and account 08 credit of "Investment in non-current assets" (the score 08-3 "Acquisition of objects of finance lease (leasing)").
5. The investment expenses of the lessor which are not considered in original cost of subject of leasing, but included in structure of leasing payments are reflected on the debit of account 91 "Other incomes and expenses" and other accounts and to the credit of accounts 60 "Settlings with suppliers and contractors", 66 "Calculations for short-term loans and loans", 67 "Calculations for long-term loans and loans", 76 "Settlings with different debtors and creditors" and other accounts.
6. The original cost of the subject of leasing transferred to the leasing recipient is reflected on the debit of account 91 "Other incomes and expenses" (the score 91-4 "Other expenses") and to account 03 credit "Profitable investments in tangible assets" (the score 03-2 "Objects of finance lease (leasing)").
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