Ministry of Justice
Republic of Uzbekistan
On July 17, 2006 No. 1595
of June 15, 2006 No. 52
About approval of the National accounting standard of the Republic of Uzbekistan (NSBU No. 4) "Inventory stocks" (new edition)
Based on the Law of the Republic of Uzbekistan "About financial accounting" according to the Regulations on the Ministry of Finance the Republic of Uzbekistan approved by the resolution of the President of the Republic of Uzbekistan of March 18, 2017 No. PP-2847, I order:
2. Recognize invalid:
National accounting standard of the Republic of Uzbekistan (NSBU No. 4) "Inventory stocks" approved by the Ministry of Finance of the Republic of Uzbekistan 27.08.1998 No. 44 (reg. No. 486 of 23.08.1998, "The bulletin of regulations of the ministries, state committees and departments of the Republic of Uzbekistan", 1999, No. 5);
the order of the Ministry of Finance of the Republic of Uzbekistan of November 14, 2002 No. 132 "About modification of the National accounting standard of the Republic of Uzbekistan (NSBU No. 4) "Inventory stocks" (reg. No. 86-1 of 20.11.2002, "The bulletin of regulations of the ministries of the state committees and departments of the Republic of Uzbekistan", 2002, No. 22).
Approved by the Order of the Minister of Finance of the Republic of Uzbekistan of June 15, 2006, No. 52
This National Accounting Standard (NAS) is developed based on the Law of the Republic of Uzbekistan "About financial accounting" and is element of system of normative regulation of financial accounting in the Republic of Uzbekistan.
1. The purpose of this NSBU is determination of methodology of financial accounting and reflection in the financial reporting of the inventory stocks belonging to the legal entity irrespective of its form of business (further - the organization), on the property rights.
2. Basic provisions of accounting of inventory stocks are: determination of the moment of recognition, classification, assessment of book value; cost determination, the inventory stocks included in cost, the subsequent recognition of costs, including the cost of inventory stocks as expense; reduction of cost of inventory stocks to the net value of realization (assessment); determination of financial results from their disposal, and also procedure for disclosure of information on them in the financial reporting.
3. This provision of NSBU are not applied to rules of accounting of incomplete works on contract construction, including the related contracts on services, and financial instruments.
4. The terms used in this NSBU:
a) inventory stocks - the tangible assets which are containing for the purpose of further sale during normal activities and being in production process, and also used in production process of products, performance of works or rendering services or for implementation of administrative and welfare functions;
b) net value of realization - current value of inventory stocks less the estimated costs on bringing to condition used for designated purpose and realization;
c) current value - the cost of inventory stocks at the operating market prices of certain date or the amount sufficient for acquisition of asset or obligation fulfillment during transaction between informed, wishing to make such transaction, independent from each other the parties;
d) direct costs - the production costs which are directly connected with production process of separate types of inventory stocks (rendering services and performance of works) and their units, directly attributable to cost;
e) indirect costs - the production costs connected with production process of several types of inventory stocks (rendering services and performance of works) which cannot be directly carried on unit cost of certain inventory stocks owing to what they are distributed between cost objects and cost of their unit in the settlement way;
e) split-off point - certain moment of production process where separate types of products in case of production are specifically identified jointly of the made products;
g) container - the material object representing the product used for storage, packaging and transportation of products (goods).
5. Inventory stocks can be in the organizations in type:
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