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The document ceased to be valid since January 1, 2019 according to Item 3 of the Resolution of the Ministry of Finance of the Republic of Belarus of November 30, 2018 No. 73

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

(as of July 2, 2010)

According to the Regulations on the Ministry of Finance of the Republic of Belarus approved by the resolution of Council of Ministers of the Republic of Belarus of October 31, 2001 No. 1585 "Questions of the Ministry of Finance of the Republic of Belarus", the Ministry of Finance of the Republic of Belarus DECIDES:

1. Approve the enclosed Instruction about procedure for financial accounting of leasing transactions.

2. Recognize invalid the Methodical instructions about procedure for financial accounting of leasing approved by the Ministry of Finance of the Republic of Belarus on January 30, 1998 No. 2 (The bulletin of normative legal information, 1998, No. 5).

3. This resolution becomes effective since June 1, 2004.

 

Minister N.P.Korbut

Approved by the Resolution of the Ministry of Finance of the Republic of Belarus of April 30, 2004 No. 75

The instruction about procedure for financial accounting of leasing transactions

Chapter 1. General provisions

1. The instruction about procedure for financial accounting of leasing transactions (further - the Instruction) establishes single procedure for reflection in financial accounting of leasing transactions for commercial and non-profit organizations (excepting the banks, other non-bank credit and financial organizations, the organizations financed from the budget (state-financed organizations) and the individual entrepreneurs who made the decision on financial accounting (further - the organizations).

1-1. The subject of the agreement of leasing (further - leasing subject) during the term of leasing stays on financial accounting both at the lessor, and at the leasing recipient. Depending on that on balance at what of agreement parties the leasing subject is registered, the second party performs financial accounting of subject of leasing on off-balance accounts.

2. It is excluded

3. It is excluded

Chapter 2. Financial accounting at the lessor

4. The costs connected with acquisition, including delivery, installation, installation of objects of leasing and finishing them to condition in which they are suitable for use by the leasing recipient before date of transmission are reflected at the lessor on the debit of account 08 "Investments in non-current assets" sub-account "Acquisition of objects of leasing" and to the credit of accounts 60 "Settlings with suppliers and contractors", 76 "Settlings with different debtors and creditors" and other accounts on the amount specified in delivery notes or acts of reception-transmission of the performed works (the rendered services).

5. The subject intended for transfer to the leasing recipient is credited taking into account all costs connected with its acquisition on the debit of account 03 "Profitable investments in material values" sub-account "Leasing subject" in correspondence with account 08 credit of "Investment in non-current assets" sub-account "Acquisition of objects of leasing".

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