RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF UZBEKISTAN, MINISTRY OF THE AGRICULTURAL AND WATER ECONOMY OF THE REPUBLIC OF UZBEKISTAN

of January 21, 2008 No. No. 1, 1/2

About approval of the Regulations on the organization of the simplified system of financial accounting in farms

1. Approve the enclosed Regulations on the organization of the simplified system of financial accounting in farms.

2. This resolution becomes effective after ten days from the moment of its state registration in the Ministry of Justice of the Republic of Uzbekistan.

Minister of Finance

R. Azimov

Minister of agricultural and water economy

S.Ismoilov

Approved by the Resolution of the Ministry of Finance of the Republic of Uzbekistan, the Ministry of agricultural and water economy of the Republic of Uzbekistan of January 21, 2008 No. No. 1, 1/2

Regulations on the organization of the simplified system of financial accounting in farms

This Provision according to the Laws of the Republic of Uzbekistan "About farm" and "About financial accounting", National accounting standards of the Republic of Uzbekistan regulates procedure for the organization of the simplified system of financial accounting in farms and submissions of the financial reporting by them.

I. General provisions

1. Action of this provision extends to the farms performing production of agricultural products, storage, conversion and realization of self-produced agricultural products including through own retail chain stores.

2. When implementing other types of activity farms keep financial accounting on these types of activity separately according to the legislation.

3. This Provision is effective along with the accounting rules and the reporting established by the Law of the Republic of Uzbekistan "About financial accounting", National accounting standards of the Republic of Uzbekistan (further - NSBU) and other regulatory legal acts.

II. Organization of financial accounting

4. Responsibility for the organization of financial accounting is conferred on the head of farm (further - the farmer). At the same time the farmer has the right:

a) create service of financial accounting under the leadership of the chief accountant or use services of the accountant involved on contractual conditions;

b) delegate on contractual conditions financial accounting of the specialized organization (auditing organizations, the organizations of tax consultants and other organizations in which charter rendering service in financial accounting is provided);

c) to independently keep financial accounting.

5. The option of procedure for the simplified financial accounting is granted to farms on voluntary basis.

III. Maintaining the simplified system of financial accounting

6. Farms independently create accounting policy proceeding from requirements of the economic activity. Financial accounting is kept by farms according to the unified methodological bases and procedure established by the legislation.

At the same time the farm can independently adapt the applied bookkeeping registers for specifics of the work in case of observance of the following requirements:

a) unified methodological basis (principle of double record);

b) interrelation of data of analytical and synthetic accounting;

c) continuous reflection of all economic activities in registers of accounting based on source accounting documents;

d) accumulation and systematization of these source accounting documents by the indicators necessary for management, control and the analysis of economic activity of farm, and also for financial reporting preparation.

7. The basis for financial accounting of economic activities in farms are source accounting documents fixing the facts of making of transactions, and orders on their carrying out.

In farms source accounting documents are constituted at the time of making of economic activities or directly (without delay) after their carrying out.

8. Obligatory details of source accounting documents constituted in farms, procedure for their creation, acceptance, storage and reflection in financial accounting and also procedure of document flow are regulated according to article 14 of the Law of the Republic of Uzbekistan "About financial accounting" both Regulations on documents and document flow in financial accounting (reg. No. 1297 of January 14, 2004)

9. Source accounting documents are constituted on the standard forms established by the legislation or on the forms developed and approved by farms with observance of requirements of this provision.

10. Source accounting documents arriving in farm are subject to obligatory check. At the same time check is performed in form (completeness and correctness of document creation, filling of details), on content (legality of documentary transactions, logical coordination of separate indicators).

11. For the organization of accounting for the simplified form the farm constitutes the working Chart of accounts of financial accounting of economic activities which will allow to record means and sources according to key accounts and by that to provide control of availability and safety of property, accomplishment of obligations and accuracy of the data of financial accounting.

12. The simplified financial accounting form in farms can be conducted on:

a) to simple form of financial accounting;

b) to the combined financial accounting form.

13. The farm independently chooses the financial accounting form given in this Provision proceeding from requirements of the production and management.

14. Irrespective of the chosen financial accounting form, economic activities for the accounting period are subject to registration (are fixed) in chronological procedure in the Magazine of registration of economic activities, according to appendix No. 2 to this Provision.

The magazine of registration of economic activities is kept in the form of the book in which registration and accounting of economic activities are conducted for the accounting period by months or quarters. At the same time the Magazine of registration of economic activities shall be strung together and numbered. On the last leaf of the Magazine of registration of economic activities signed by the farmer entry "In this Magazine is made it is numbered... sheets". The number of sheets is specified in cursive script.

IV. Simple form of financial accounting

15. For conducting analytical and synthetic accounting of objects of financial accounting in farms the register "Book of Accounting of Economic Activities" according to appendix No. 3 to this Provision is used. The book of accounting of economic activities is kept in the form of the book in which account of transactions is kept for all accounting year. At the same time the Book of accounting of economic activities shall be strung together and numbered. On the last leaf of the Book of accounting of economic activities signed by the farmer entry "In this Book is made it is numbered... "sheets". The number of sheets is specified in cursive script.

16. In the Book of accounting of economic activities results of economic activities are reflected in accounts of assets, obligations, equity, the income, expenses, profits and losses.

17. In the Book of accounting of economic activities of record are performed in systematic procedure based on information provided in the Magazine of registration of economic activities.

18. The book of accounting of economic activities is the combined register which contains all business accounts applied to farms and allows to record economic activities on each of them. At the same time it shall be rather detailed for reasons for contents of the corresponding balance sheet items. In the Book of accounting of economic activities certain number of pages proceeding from the expected amount of economic activities taking into account experiment of previous years on the specific accounting account is distinguished for each used accounting account.

19. The book of accounting of economic activities opens records at line "Remaining Balance on " _" ____ 20_g." the amounts of remaining balance for the beginning of the accounting period on each asset type, obligations and equity according to which they are available. Remaining balance according to active accounts register on the debit of these accounts, and according to passive accounts - the trusted accounts.

20. In every line on the corresponding accounting account of record are performed in the chronological sequence by position method based on information of accounting entries provided in the Magazine of registration of economic activities.

21. At the end of every month (quarter) in the Book of accounting of economic activities the results based on which the result of activities of farm is determined are summed up.

The account balances of accounting of assets, obligations and equity removed in the Book of accounting of economic activities are transferred to the balance sheet - forms No. 1.

Turnovers according to income accounts and expenses for the accounting period removed in the Book of accounting of economic activities, are transferred to the report on financial results - forms No. 2.

V. The combined financial accounting form

22. Financial accounting on the basis of the combined form is performed with use of several accounting registers (accounting sheets). Entries in accounting sheets are performed based on information provided in the Magazine of registration of economic activity and source accounting documents.

23. When maintaining the combined form of financial accounting the following accounting sheets of financial accounting are used:

a) the sheet of fixed asset accounting and intangible assets according to appendix No. 4 to this Provision;

b) the sheet of accounting of financial investments according to appendix No. 5 to this Provision;

c) the sheet of accounting of capital investments according to appendix No. 6 to this Provision;

d) the sheet of accounting of inventory stocks according to appendix No. 7 to this Provision;

e) the sheet of accounting of animals on cultivation and sagination according to appendix No. 8 to this Provision.

e) the sheet of accounting of settlings with buyers and customers according to appendix No. 9 to this Provision;

g) the sheet of accounting of other accounts receivable according to appendix No. 10 to this Provision;

h) the sheet of the cash accounting according to appendix No. 11 to this Provision;

i) the sheet of accounting of settlings with suppliers and contractors according to appendix No. 12 to this Provision;

j) the sheet of accounting of settlings with advance holders according to appendix No. 13 to this Provision;

k) the sheet of accounting of calculations for compensation according to appendix No. 14 to this Provision;

l) the sheet of accounting of other obligations according to appendix No. 15 to this Provision;

m) the sheet of accounting of equity according to appendix No. 16 to this Provision;

o) the sheet of the cost accounting (expenses) of the accounting period according to appendix No. 17 to this Provision;

o) the sheet of the cost accounting on production and crop production production yield according to appendix No. 18 to this Provision;

p) the sheet of the cost accounting on production and livestock production production yield according to appendix No. 19 to this Provision;

c) the sheet of the cost accounting and services of auxiliary production according to appendix No. 20 to this Provision;

r) the sheet of calculation of net profit (loss) according to appendix No. 21 to this Provision;

s) the summary sheet of accounting of economic activities according to appendix No. 22 to this Provision;

24. Each sheet is applied to accounting of transactions on one or several of the used business accounts.

The amount of each economic activity registers in two sheets at the same time: in one - on the debit of the account with indication of number of the credited account (in the column "Corresponding account"), and in another - on the credit of the corresponding account and with similar record of number of the debited account. In both sheets according to the corresponding columns of record are performed based on information on essence of the committed transaction given in the Magazine of registration of economic activities and source accounting documents.

In sheets which contain information on remaining balance accounting entries for the beginning of the accounting period begin by transferring of remaining balance for the end of previous period on the corresponding accounts.

Remaining balance of accounts of assets, obligations and equity in separate sheets shall be verified with the relevant data source accounting documents based on which records were made (cash reports, bank statements, etc.).

25. The sheet of fixed asset accounting and intangible assets is the register of analytical and synthetic accounting of availability and movement: fixed assets according to accounts of fixed assets (0100) and according to accounts of the fixed assets received under the agreement of finance lease (0300), intangible assets according to accounts of intangible assets (0400), depreciation, respectively, according to accounts of depreciation of fixed assets (0200) and according to accounts of intangible asset deprication (0500).

Data on fixed assets and intangible assets register in the sheet by position method on each object separately.

Monthly in the presence of fixed asset movement and intangible assets the amounts of their turnovers are counted and the remaining balance on the 1st of the following for reporting is removed month.

Depreciation on the fixed assets including received under the agreement of finance lease (leasing) is estimated according to the National accounting standard of the Republic of Uzbekistan (NSBU) No. 5 "Fixed assets" approved by the order of the Ministry of Finance of the Republic of Uzbekistan of 09.10.2003, No. 114 (reg. No. 1299 of 20.01.2004 - "Collection of the legislation of the Republic of Uzbekistan", 2004, No. 3, the Art. 35).

Depreciation on intangible assets is charged by the chosen method according to the National accounting standard of the Republic of Uzbekistan (NSBU) No. 7 "Intangible assets" approved by the order of the Ministry of Finance of the Republic of Uzbekistan of 25.03.2005, No. 35 (reg. No. 1485 of 27.06. 2005 - "Collection of the legislation of the Republic of Uzbekistan", 2005, Art. No. 25-26, 188).

For control of the amounts of the added depreciation (depreciation) by active part and educated depreciation on all fixed assets and intangible assets the corresponding columns of accounting of depreciation (depreciation) with the accruing result are provided in the sheet.

26. The sheet of accounting of financial investments is intended for generalization of information on the financial investments considered on accounts of long-term financial investments (0600) and on accounts of short-term financial investments (5800).

27. The sheet of accounting of capital investments is intended for generalization of information on investments of farm into fixed assets and intangible assets, and also about the costs on forming of the main herd of the productive and working cattle considered on accounts of capital investments (0800).

28. The sheet of accounting of inventory stocks is intended for analytical and synthetic accounting of the inventory stocks reflected in "accounts of materials (1000) and accounts of finished goods (2800).

The sheet opens for month (quarter) and is kept separately on responsible persons by all types of values irrespective of, was available or not movement for month under report of these or those values.

29. The sheet of accounting of animals on cultivation and sagination is intended for analytics of availability and movement of the animals belonging to farm on cultivation and sagination by groups of animals (young growth of animals; the adult animals who are on sagination in the nagul; birds; fly into a rage; rabbits; families of bees; the adult cattle rejected from the main herd for realization; the cattle accepted from the population for realization, and others), the animals considered on accounts on cultivation and sagination (1100). At the same time information on reduction of quantitative and amount-based indices of animals on cultivation and sagination, by groups of animals, is shown on the corresponding line of the column "Content of Economic Activity" with the sign "minus".

30. The sheet of accounting of settlings with buyers and customers is applied to accounting of the settlings with buyers and customers considered on accounts to obtaining (4000).

In the sheet on the debit of account 4010 by position method the accounts receivable of buyers and customers for the realized commodity material inventories and other assets register. On the credit of account 4010 transactions on final settlement (including offsetting of the advance payments received from buyers and customers) in correspondence with the credit of accounts of money are reflected.

31. The sheet of accounting of other accounts receivable is intended for analytical and synthetic accounting of the accounts receivable resulting from the economic activities which are not connected with sales of products and other assets of farm. This sheet opens separately for each type of other accounts receivable by names of the debtors considered on accounts of long-term accounts receivable and delayed expenses (0900), on account 4210 "The advance payments issued on compensation" on the advance payment accounts issued to suppliers and contractors (4300), on advance payment accounts in the budget (4400), on advance payment accounts in the state trust funds and on insurance (4500), on accounts of debt of personnel on other transactions (4700) and on accounts of debt of different debtors (4800).

32. The sheet of the cash accounting is applied by farms to the cash accounting which account is kept on accounts of cash on hand (5000), money on the settlement account (5100), foreign currency cash (5200), money on special bank accounts (5500).

Receiving and delivery of money, execution of receipt and issue documents, maintaining the cash book, creation of the report on cash transactions are performed according to the procedure, established by Rules of conducting cash transactions by legal entities (reg. No. 2687 of June 22, 2015).

In the sheet of the cash accounting of record of transactions according to the settlement account and other bank accounts are made based on bank statements and documents attached to them. Making and registration of transactions according to the settlement account is made according to the procedure, established by the legislation.

33. The sheet of accounting of settlings with suppliers and contractors is applied to accounting of the settlings with suppliers and contractors considered on accounts for payment to suppliers and contractors (6000).

In the sheet on account 6010 credit by position method supplier accounts for the received material values, and also accounts of contractors for the performed works and services register. On the debit of account 6010 transactions on final payment of supplier accounts and contractors in correspondence with the credit of accounts of money are reflected.

34. The sheet of accounting of settlings with advance holders is the combined register of accounting where analytical and synthetic accounting of settlings with advance holders on accounts 4220 "The advance payments issued on official journeys", 4230 "Advance payments, issued on general running costs" and 6970 "Debt to advance holders" is combined.

35. The sheet of accounting of calculations for compensation is intended for accounting of the calculations for compensation considered on accounts of settlings with personnel on compensation (6700).

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