It is registered
Ministry of Justice of Ukraine
July 11, 2003
of June 18, 2003 No. 255
About approval of Accounting rules of the income and expenses of banks of Ukraine
According to article 41 of the Law of Ukraine "About the National Bank of Ukraine" and article 68 of the Law of Ukraine "About banks and banking activity" and for the purpose of reduction of regulatory legal acts of the National Bank of Ukraine in compliance to requirements of the world and national situations (standards) of financial accounting concerning display of information on the income and expenses of banks of Ukraine the Board of the National Bank of Ukraine DECIDES:
1. Approve Accounting rules of the income and expenses of banks of Ukraine which are applied.
2. To accounting department (Rychakivskaya V. I.) after state registration in the Ministry of Justice of Ukraine to bring contents of this resolution to permission of structural divisions of the National Bank of Ukraine, banks for management and use in work.
3. Recognize invalid the Accounting rules of interest and commission incomes and expenses of banks approved by the resolution of Board of the National Bank of Ukraine of 25.09.97 of N316 (with changes).
5. Control over the implementation of this resolution is imposed on chiefs of territorial administrations of the National Bank of Ukraine.
S. L. Tigipko
Approved by the Resolution of Board of the National Bank of Ukraine of June 18, 2003 No. 255
1.1. The these rules developed according to the Laws of Ukraine "About banks and banking activity" "About the National Bank of Ukraine", "About financial accounting and the financial reporting in Ukraine", are based on the basic principles of international accounting standards.
1.2. Rules determine the methodological principles of reflection in financial accounting of information on the income and expenses and procedure for application by banks of fundamental accounting principles in case of recognition and accounting of the income and expenses, including charges - reflection in financial accounting and the financial reporting of the income and expenses during their origin irrespective of receipt date or payment of money.
1.3. Rules are applied by banks and their structural divisions to display in financial accounting of the added, gained (paid) income and expenses, overdue debt on imputed incomes, and also write-offs of imputed incomes, hopeless to obtaining, at the expense of special reserves.
1.4. These Rules do not regulate procedure for display in financial accounting of the income and expenses on transactions which are determined by other regulatory legal acts of the National Bank of Ukraine, in particular those which are connected with:
the income on financial investments which are considered according to method of equity participation;
changes in fair value of financial assets and obligations, and also with liquidation (sale, repayment) of the specified assets and liabilities;
changes in value of other current assets;
recognition of expenses on the tax discharge on profit.
In these Rules terms are used in such value:
the amortized cost is the cost at which are estimated financial asset, the financial liability and which consists of the cost of acquisition reduced by repayment sum of the main amount of debt increased (reduced) on cumulative depreciation amount any difference between the original cost and the cost of repayment calculated with use of the effective rate of percent reduced by the amount of partial write-off owing to usefulness reduction;
book value is the cost at which asset, the obligation and equity are displayed in balance. Book value for financial asset and the financial liability consists of the main amount, the added percent and unamortized award and discount, the amount of revaluation, the amount of acknowledged reduction of usefulness;
bad debt - debt concerning which there is confidence about its not return by the debtor, or debt on which passed the term of limitation period;
expenses are reduction of economic benefits during the accounting period in the form of disposal or asset depreciation or in the form of emergence of obligations what reduction of equity, except for is result of the reduction connected with payments to participants;
the income is increase in economic benefits during the accounting period in the form of receipt or increase in usefulness of assets or in the form of reduction of obligations what increase in equity, except for is result of the increase connected with fees of participants;
dividends - the part of net profit distributed between participants (owners) according to share of their equity participation of the company;
effective rate of percent - rate which precisely discounts the expected flow of future money payments or receipts throughout the expected effective period of the financial instrument in net book value (the amortized cost) of this tool;
providing - the obligation with the uncertain term or the amount;
obligations - the existing obligation of the subject of managing which results from last events and which repayment, as expected, will lead to disposal of the resources of the company containing economic benefits;
effective interest rate method - method of calculation of the amortized cost of financial asset or the financial liability (or groups of financial assets or financial liabilities) and income distributions in the form of percent or expenses on interest payment during the corresponding period of time;
overdue debt on imputed incomes - debt on imputed income which are not gained in time, provided by the agreement;
royalty - payments for use of intangible assets of bank (patents, copyright, software products);
fair value - the amount on which exchange of asset or payment of the obligation as a result of transaction between the informed, interested and independent parties can be performed;
the financial instrument - the contract which at the same time leads to emergence (increase) of financial asset at one subject of business activity and the financial liability or the tool of equity at another.
3.1. For the purpose of reducing the list of accounts during the description of accounting entries on charge, obtaining and payment of the income and expenses of the account in these rules are grouped in transactions according to their appointment and use (according to appendix).
3.2. For display in financial accounting of transactions on obtaining and payment of the income and expenses banks according to accounting policy can use transit accounts, and also accounts debit, accounts payable of classes 1, of 2, 3 with further display of the income and expenses on the corresponding accounts.
1.1. The income and expenses are recognized under such circumstances:
a) recognition of real debt on assets and liabilities of bank;
b) the financial result of the transaction connected with provision (obtaining) of services can be precisely determined.
1.2. The income and expenses which result from transactions are determined by the contract between her participants or other documents processed according to requirements of the current legislation of Ukraine.
1.3. The bank reflects the commission income on transactions with use of special means of payment in foreign currency according to requirements of the legislation of Ukraine concerning currency control
1.4. The income and expenses are recognized on each type of activity (operational, investment, financial) bank.
Recognition criteria of the income and expenses are applied separately to each transaction of bank.
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