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Ministry of Justice of Ukraine

December 27, 2004

No. 1650/10249

RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of December 10, 2004 No. 625

About approval of the Instruction on the inventory bookkeeping of material values of banks of Ukraine

(as amended on 18-09-2014)

According to article 41 of the Law of Ukraine "About the National Bank of Ukraine", article 68 of the Law of Ukraine "About banks and banking activity", for the purpose of enhancement of the inventory bookkeeping of material values of banks of Ukraine the Board of the National Bank of Ukraine DECIDES:

1. Approve the Instruction on the inventory bookkeeping of material values of banks of Ukraine it (is applied).

2. To accounting department (V. I. Rychakivskaya) after state registration in the Ministry of Justice of Ukraine to bring contents of this resolution to permission of territorial administrations of the National Bank of Ukraine and banks of Ukraine for management and use in work.

3. Recognize invalid:

the resolution of Board of the National Bank of Ukraine of 03.11.98 No. 448 "About approval of the Instruction for financial accounting of transactions with anniversary coins in organizations of commercial banks of Ukraine";

the resolution of Board of the National Bank of Ukraine of 20.08.99 No. 419 "About approval of the Instruction on the inventory bookkeeping of inventory items of commercial banks of Ukraine and to approval of the corresponding recommendations" (10.09.99 for No. 614/3907) is registered in the Ministry of Justice of Ukraine;

the resolution of Board of the National Bank of Ukraine of 20.03.2001 No. 113 "About approval of Changes to the Instruction on the inventory bookkeeping of inventory items of commercial banks of Ukraine" (05.04.2001 for No. 311/5502) is registered in the Ministry of Justice of Ukraine;

Item 1.4 of the resolution of Board of the National Bank of Ukraine of 04.12.2001 No. 495 "About reduction in compliance to the legislation on legal proceedings of regulatory legal acts of the National Bank of Ukraine" (10.12.2001 for No. 1022/6213) is registered in the Ministry of Justice of Ukraine (with changes);

Item 2 of the resolution of Board of the National Bank of Ukraine of 08.01.2002 No. 4 "About modification of separate regulatory legal acts of the National Bank of Ukraine" (15.01.2002 for No. 34/6322) is registered in the Ministry of Justice of Ukraine.

4. The resolution becomes effective in 10 days after state registration in the Ministry of Justice of Ukraine.

5. To impose control over the implementation of this resolution on territorial administrations of the National Bank of Ukraine.

Acting Chairman

A. P. Yatsenyuk

 

Approved by the Resolution of Board of the National Bank of Ukraine of December 10, 2004 No. 625

Instruction on the inventory bookkeeping of material values of banks of Ukraine

1. General provisions

1.1. This Instruction determines procedure for display in financial accounting of information on movement of inventories of material values, anniversary and commemorative coins of karbovantsevy nominal.

1.2. This Instruction is developed according to the Laws of Ukraine "About banks and banking activity", "About the National Bank of Ukraine", other legal acts of Ukraine, including regulatory legal acts of the National Bank of Ukraine (further - National Bank), requirements of international accounting standard 2nd "Inventories".

1.3. Inventories of material values are recognized asset if there is probability that the bank will receive in the future the economic benefits connected with their use, and their cost can be authentically determined.

Inventories of material values material values which are intended for ensuring continuous work of bank, provision of services are included. Inventories of material values consist of economic materials which are used no more than one year.

1.4. Inventories of material values in accounting are displayed at primary cost, including expenses on delivery, taxes, charges and other obligatory payments (except those which are compensated to bank subsequently), according to balance sheet account 3400.

1.5. Transfer of material values from warehouse in operation or their realization banks enable at the cost which is determined by one of such methods:

costs of the first on stock receipt time - "the first receipt - the first expense" (FIFO);

weighted average cost;

the identified cost of the corresponding stock unit.

The cost of the material values put into operation and used for support of fixed asset object in working order is displayed according to expenditure accounts, and used for improvement of fixed asset object, - on accounts of capital investments.

1.6. The anniversary and commemorative coins of karbovantsevy nominal which are not instrument of payment are considered according to balance sheet account 3400 on selling price of National Bank.

Accounting of cases and other packaging of anniversary coins is performed on the separate analytical account of balance sheet account 3400.

1.7. Property, which carried over bank as pawnbroker for the purpose of further sale that does not correspond to recognition criteria its irreversible asset withheld for sale and cannot be acknowledged irreversible asset for use in the current activities or the investment real estate, it is considered according to balance sheet account 3409 on the smallest of two costs: cost or net value of realization.

1.8. For the purpose of establishment of the actual availability in banks of inventories of material values, determinations of condition of their storage and establishment of shortages or surplus inventory count is carried out.

Inventories of material values which by results of inventory count are found in surplus are displayed on account 3400 in correspondence with account 6499. Shortages are displayed according to Item 4.7 of this Instruction.

1.9. The procedure for conducting inventory accounting is determined by bank independently taking into account requirements of the current legislation of Ukraine.

1.10. In this Instruction terms are used in such value:

inventories - assets which contain for sale in the course of ordinary activities are in production process for such sale or available in the form of the main or auxiliary materials for consumption in production process or in case of provision of services;

unit of material values - one material value or group of uniform material values;

primary cost - the actual amount of means paid for certain stock unit of material values during its acquisition including expenses on delivery, taxes, charges and other obligatory payments, except those which return to bank subsequently;

net value of realization - the expected sales price of inventories in the conditions of regular activities less the expected expenses on realization.

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