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Ministry of Justice of Ukraine

August 10, 2000

No. 487/4708


of July 28, 2000 No. 181

About approval of the National provision (standard) of the financial accounting 14 "Lease"

(as amended on 28-12-2022)

In pursuance of the Program of reforming of the system of financial accounting using international standards approved by the resolution of the Cabinet of Ministers of Ukraine of October 28, 1998 No. 1706, and according to articles 1 and 6 of the Law of Ukraine "About financial accounting and the financial reporting in Ukraine" PRIKAZYVAYU:

1. Approve the National provision (standard) of the financial accounting 14 "Lease" (further - the National provision (standard) 14) approved by Methodological council on financial accounting under the Ministry of Finance of Ukraine that is applied.

2. The national provision (standard) 14 becomes effective since October 1, 2000.

3. Recognize voided since October 1, 2000:

the order of the Ministry of Finance of Ukraine of July 25, 1995 No. 128 "About approval of the Instruction on accounting accounting of rent transactions", registered in the Ministry of Justice of Ukraine on August 2, 1995 at No. 273/809;

the order of the Ministry of Finance of Ukraine of March 6, 1998 No. 50 "About modification and amendments in the Instruction for financial accounting of rent transactions", registered in the Ministry of Justice of Ukraine on March 23, 1998 at No. 186/2626.

Deputy minister

V. V. Reguretsky


Approved by the order of the Ministry of Finance of Ukraine of July 28, 2000 No. 181

National provision (standard) of the financial accounting 14 "Lease"

I. General provisions

1. The national provision (standard) determines methodological bases of forming in financial accounting of information on lease of non-current assets and its disclosure in the financial reporting.

2. Regulations of this national provision (standard) are applied by the companies, the organizations and other legal entities (further - the companies) irrespective of patterns of ownership (except budgetary institutions and the companies which according to the legislation constitute the financial reporting under International Financial Reporting Standards).

3. This national provision (standard) does not extend on:

1) the lease agreements connected with investigation and use of natural and similar non-reproducible resources (except for leases of the parcels of land);

2) agreements on use of copyright and related rights;

3) lease agreements of complete property complexes;

4) assessment of biological assets - objects of lease which are estimated at fair value, reduced by the expected costs to sell according to the National provision (standard) of the financial accounting 30 "Biological assets" approved by the order of the Ministry of Finance of Ukraine of November 18, 2005 No. 790, No. 1456/11736 registered in the Ministry of Justice of Ukraine on December 05, 2005;

5) on assessment of objects of the investment real estate which are estimated at fair value according to the National provision (standard) of financial accounting 32 "Investment real estate" approved by the order of the Ministry of Finance of Ukraine of July 02, 2007 No. 779, No. 823/14090 registered in the Ministry of Justice of Ukraine on July 16, 2007.

4. The terms used in national provisions (standards) of financial accounting matter, provided in this Item.

Gross investment in lease - the amount of minimum lease payments which the lessor according to the agreement on finance lease, and any non-quaranteed salvage value charged to the lessor shall receive.

The guarantee of liquidating cost guarantee provided to the lessor not by the related party concerning the fact that cost (or part of cost) leased asset for the end of lease at least will be equal to the specified amount.

The guaranteed salvage value - part of salvage value which is guaranteed to payment to the lessor.

Minimum lease payments - the payments which are subject to payment by the lessee during lease term (less the cost of the services and taxes which are subject to payment to the lessor, and the unforeseen rent), increased:

for the lessee - on the amounts guaranteed by the lessee or the related party;

for the lessor - on the guaranteed salvage value from the lessee or the party connected with the lessee or the third party which is not connected with the lessee which is financially capable to fulfill obligations on guarantee.

In case of opportunity and intention of the lessee to acquire object of lease at the price below its fair value for date of acquisition, minimum lease payments consist of the minimum rent for all lease term and the amounts which should be paid according to the contract for acquisition of object of lease.

Trouble-free lease - the lease agreement for which beginning of term the lessee pays such amount of the rent which gives the chance to the lessor to be sure of prolongation of lease term or which can be terminated only:

with the permission of the lessor;

if there was certain unforeseen event;

in case of the conclusion the lessee of the new lease agreement of the same asset or instead of it another asset similar to destination with the same lessor.

The non-quaranteed liquidating cost part of salvage value of object of lease which receipt by the lessor is not guaranteed or guaranteed only by the related party.

The unforeseen rent - part of the rent which is not fixed by the specific amount and is calculated using other indicators, than lease term (the sales volume, use level, the inflation index and the prices, market rates of percent).

Lease agreement between the lessor and the lessee on whom the lessor grants to the lessee right to use non-current asset for a fee for certain term.

The operational lease lease which is not providing transfer to the lessee of all risks and benefits connected with the property right to object of lease.

Initial direct expenses - the additional expenses incurred in connection with the conclusion of the lease agreement which would be not incurred if such lease agreement was not signed, except for such expenses incurred by the manufacturing lessor or the lessor dealer in connection with finance lease.

The beginning of term of lease date which comes earlier: date of the lease agreement or acceptance date of obligations on essential lease term.

Admissible rate of percent in lease - percent rate at which this cost of the amount of minimum lease payments and non-quaranteed salvage value equals to the amount of fair value of object of finance lease on lease term commencement and any initial direct costs of the lessor.

Percent rate on possible loans of the lessee - percent rate which the lessee would pay to lease for similar term and with similar providing the means necessary for acquisition of similar on asset cost on similar economic conditions.


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