of December 22, 2006 No. 164
About approval of regulatory legal acts on financial accounting
Based on the resolution of Council of Ministers of the Republic of Belarus of May 4, 1998 "About the State program of transition to international accounting standards in the Republic of Belarus" the Ministry of Finance of the Republic of Belarus DECIDES: No. 694
Approve enclosed:
The instruction about procedure for disclosure of information and submission of accounting records about financial instruments;
Instruction for financial accounting of securities.
Minister N.P.Korbut
Approved by the Resolution of the Ministry of Finance of the Republic of Belarus of December 22, 2006 No. 164
1. The instruction about procedure for disclosure of information and submission of accounting records about financial instruments (daleeinstruktion) is developed based on the resolution of Council of Ministers of the Republic of Belarus of May 4, 1998 No. 694 "About the State program of transition to international accounting standards in the Republic of Belarus" (Collection of decrees, presidential decrees and orders of the Government of the Republic of Belarus, 1998, No. 13, Art. 341; The National register of legal acts of the Republic of Belarus, 2003, No. 79, 5/12764) also establishes rules of disclosure and submission of information on financial instruments of the organizations and individual entrepreneurs (further - the organizations), excepting banks and the non-bank credit and financial organizations.
2. The instruction determines:
classification of financial instruments;
information on financial instruments who needs to be revealed.
3. For the purposes of this Instruction the following concepts and their determinations are used:
3.1. the financial instrument - security, the agreement as a result of which at the same time arise financial asset at one organization and the financial liability or equity instrument at another;
3.2. financial asset - the asset which is:
money;
the right to demand from other organization for security or the agreement (further - the agreement) money or other financial assets;
the right to exchange with other organization for the agreement financial assets or financial liabilities on conditions which are profitable to the organization;
equity instrument of other organization;
the agreement irrespective of, is it the derivative financial instrument or not, calculation for which is perfromed or can be performed by receipt of variable (unstable) number of own equity instruments of the organization;
3.3. the financial liability - the obligation:
provide to other organization according to the agreement money or other financial assets;
exchange with other organization according to the agreement financial assets or financial liabilities on conditions which are unprofitable for the organization;
according to the agreement irrespective of, it is the derivative financial instrument or not, calculation for which is perfromed or can be performed by transfer of variable (unstable) number of own equity instruments of the organization;
3.4. equity instrument - the agreement which confirms the right of the participant to share (property) of the organization in case of its liquidation;
3.5. own equity instrument - own issued shares;
3.6. the derivative financial instrument - the financial instrument concerning which the following conditions at the same time shall be satisfied:
the cost of the financial instrument changes in case of change of the specified underlying asset;
for acquisition of the financial instrument investments are not required or insignificant initial investments are required;
calculations for this financial instrument are perfromed in the future;
3.7. the difficult financial instrument - the financial instrument which comprises both element of the financial liability (financial asset), and element of own equity instrument (for example, the bond allowing convertibility in the fixed number of shares). Such financial instrument includes two elements: the financial liability (the agreement to list money or to deliver other financial assets) and equity instrument (the agreement granting to the owner the right during the certain period of time to convert the financial instrument into the fixed number of shares);
3.8. currency risk - risk of change in value of the financial instrument in connection with changes in the exchange rate of currencies;
3.9. price risk - risk of change in value of the financial instrument as a result of changes of market prices irrespective of whether these changes are caused by the factors characteristic of the separate financial instrument or its issuer, or factors influencing all financial instruments which are in circulation;
3.10. credit risk - risk of non-execution of the obligations by one party on the financial instrument and thereof origins at other party of loss;
3.11. liquidity risk - risk of origin at the organization of difficulties in case of receipt of means for repayment of the obligations connected with financial instruments.
4. In case of recognition of the financial instrument in financial accounting and the reporting the organization shall classify the financial instrument or parts as the financial liability, financial asset or equity instrument constituting it according to essence of the subject of the agreement and determinations "financial liability", "financial asset" and "equity instrument".
Examples of financial assets is money on accounts in banks, the deposits placed cash, securities of other issuers, receivables. Do not treat financial assets: fixed assets, intangible assets, inventory items, calculations for the capital investments, calculations for payments in the budget and the state trust budget and off-budget funds.
Examples of financial liabilities are the obtained credits and loans, accounts payable by calculations, issued securities (except shares). Do not treat financial liabilities: calculations for the capital investments, calculations for payments in the budget and the state trust budget and off-budget funds.
5. Extent of disaggregation of disclosed information about financial instruments by each financial instrument or (further - separately or in group) is determined by groups of uniform financial instruments by the organization independently proceeding from materiality of financial instruments.
6. Any subjects are recognized essential to disclosure financial instruments which specific weight (separately or in group) in the opened balance sheet item or line of other standard forms of accounting records makes at least one percent.
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The document ceased to be valid since October 8, 2016 according to Item 1 of the Resolution of the Ministry of Economics of the Republic of Belarus of October 3, 2016 No. 63