Document from CIS Legislation database © 2003-2019 SojuzPravoInform LLC

RESOLUTION OF THE BOARD OF DIRECTORS OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of September 28, 2007 No. 296

About approval of the National accounting standard 7th "Cash flow statement" (NSFO 7)

(as of February 3, 2010)

For the purpose of accomplishment of the Main directions of monetary policy of the Republic of Belarus for 2007 approved by the Presidential decree of the Republic of Belarus of November 30, 2006 No. 703, of the Development program of banking sector of economy of the Republic of Belarus for 2006-2010 approved by the Presidential decree of the Republic of Belarus of January 15, 2007 No. 27, and also based on article 26 of the Bank code of the Republic of Belarus the Board of directors of National Bank of the Republic of Belarus DECIDES:

1. Approve the enclosed National accounting standard 7th "Cash flow statement" (NSFO 7).

2. Declare invalid the National accounting standard 7th "Cash flow statement" (NSFO 7) for banks approved by the resolution of the Board of directors of National Bank of the Republic of Belarus of December 3, 2002 No. 387.

3. This resolution becomes effective since January 1, 2008 and is applied in case of creation of the financial reporting for 2007 and the next years.

 

Chairman of the board P. P. Prokopovich

Approved by the Resolution of the Board of directors of National Bank of the Republic of Belarus of September 28, 2007, No. 296

National accounting standard 7th "Cash flow statement" (NSFO 7)

Chapter 1. General provisions

1. The national accounting standard 7th "Cash flow statement" (7) (further - the Standard) is developed by NSFO for the purpose of accomplishment of the Main directions of monetary policy of the Republic of Belarus for 2007 approved by the Presidential decree of the Republic of Belarus of November 30, 2006 No. 703 (The national register of legal acts of the Republic of Belarus, 2006, No. 201, 1/8121), Development programs of banking sector of economy of the Republic of Belarus for 2006-2010 approved by the Presidential decree of the Republic of Belarus of January 15, 2007 No. 27 (The national register of legal acts of the Republic of Belarus, 2007, No. 16, 1/8268), and also based on article 26 of the Bank code of the Republic of Belarus and according to the International Financial Reporting Standard 7 "Cash flow statements" approved by Council for international accounting standards.

2. The requirements established by this Standard are obligatory for execution by the banks and non-bank credit and financial organizations of the Republic of Belarus created according to the legislation (further - banks).

3. The purpose of this Standard consists in the requirement of submission of information on changes in money and cash equivalents of bank for the accounting period and the period previous reporting by creation of the cash flow statement in which classification of receipts and payments of the money and their equivalents for the period received from operating, investing and financial activities is made.

4. For the purposes of this Standard following terms have the following values:

money - cash in Belarusian rubles and foreign currency, means on correspondent accounts in National Bank of the Republic of Belarus (further - National Bank);

cash equivalents - short-term highly liquid investments, readily convertible in known cash amount and the changes of their cost which are put insignificant risk;

non-cash transactions - the transactions made without use of money or their equivalents;

cash flows (further the term "money" will be understood more widely, covering both money, and cash equivalents) - receipts and payments of money arising in the course of activities of bank;

operating activiies - the main activities of bank, revenue-producing, and other activities which does not belong to investing or financial activities;

investing activities - activities of bank for acquisition and sale of the long-term financial investments in authorized funds of other legal entities, the securities withheld before repayment, fixed assets, the intangible assets and other non-current assets which are not relating to cash equivalents;

financial activities - the activities of bank leading to change in the amount of and/or equity composition.

The terms "functional currency", "currency rate", "foreign company" have the values determined by the National accounting standard 21 "Influence of changes of the currency rates" (NSFO 21) approved by the resolution of the Board of directors of National Bank of the Republic of Belarus of September 28, 2007 No. 297.

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