It is registered
in the Ministry of Justice
Republic of Tajikistan
of May 7, 2002 No. 62
of March 6, 2002 No. 41
About approval of the Accounting regulation "Works agreement" PBU 8/02
1. Approve the enclosed Accounting regulation "Works agreement" PBU 8/2002.
2. This Provision becomes effective since January 1, 2002.
Approved by the order of the Ministry of Finance of the Republic of Tajikistan of March 6, 2002 No. 41
1. This Provision is applied to accounting of works agreements and establishes single rules of reflection in financial accounting and the reporting of transactions of the builders and contractors connected with agreement performance of the contract (contracts) for capital construction.
This Provision is element of system of normative regulation of financial accounting in the Republic of Tajikistan and shall be applied taking into account other Accounting regulations.
2. The following terms are used in system of normative regulation of the questions of financial accounting connected with agreement performance on construction in the Republic of Tajikistan:
the works agreement is the contract which is specially providing construction, reconstruction, expansion, modernization, repair of operating plants, buildings and constructions, and also production of separate types and complexes of the contract works which are construction objects.
One of signs of the construction agreement is duration (of start date before end date) its (agreements) of execution which (duration) determines need of distribution of the made costs for number of the accounting periods.
The procedure for the conclusion of the construction agreement is determined according to the legislation of the Republic of Tajikistan and includes, in particular form of calculations, construction cost and other conditions of its accomplishment;
construction object - the separate building or construction, type or complex of works on which construction the separate project and the estimate shall be constituted;
the builder - the investor, and also other legal entities and physical persons authorized by the investor will enable the realization of investment projects on capital construction;
the investor - the legal entity or physical person performing investments of own, loan and raised funds in creation and reproduction of fixed assets;
construction in progress - costs of the builder on construction of construction objects since the beginning of construction before input of objects in operation;
complete construction - costs of the builder on the construction object put into operation;
inventory value of object - costs of the builder on construction of object according to the construction agreement since its beginning before commissioning;
the contractor - the legal entity performing contract works for the builder on the construction agreement;
contract works - the works performed by the contractor and the list of whom enter construction, installation works, works on repair of buildings and constructions, and also other work types according to the construction agreement;
work in progress - costs of the contractor on construction objects on the unfinished works performed according to the construction agreement.
3. In financial accounting object according to the construction agreement at the builder and the contractor are the costs on construction object made in case of accomplishment of separate work types on the objects built on one project or the construction agreement.
The contractor can keep financial accounting of costs under several agreements signed with one builder or several builders if they consist in type of packet deal or treat one project. In case of implementation of construction under one agreement covering number of projects and if costs and financial result on each of projects can be installed separately (within the agreement), then the cost accounting on performance of works on each such project can be considered as the cost accounting on performance of works under the separate agreement.
4. Builders and contractors in case of agreement performance on construction shall provide forming of information on objects of financial accounting on the following indicators:
at the builder:
construction in progress;
the advance payments issued to the contractors and other subjects occupied in construction of facilities according to construction agreements;
financial result of activities;
at the contractor:
costs on accomplishment of contract works on objects of accounting in the accounting period and since the beginning of agreement performance on construction;
work in progress by objects of accounting, including on the works paid or accepted for payment performed by the attracted organizations for the construction agreement;
income gained from customers for the objects which are handed over to them according to the construction agreement; the advance payments received from builders on account of the performed works.
5. Calculations between the builder and the contractor according to the construction agreement can be performed:
in the form of advance payments (intermediate payments) for the works performed by the contractor on structural elements or stages; after completion of all works on construction object.
Calculations for construction objects in financial accounting of the builder and contractor are reflected proceeding from contractual cost.
6. Contractual project cost of construction is determined in the construction agreement and can be calculated:
a) on the basis of the cost (price) determined according to the project (fixed price) taking into account the clauses in the construction agreement concerning procedure for its change;
b) on the terms of compensation of actual cost of construction in the amount of the accepted costs estimated in current prices plus the profit of the contractor (the open price) approved by the construction agreement.
7. Contract agreement costs at the builder consist of the expenses connected with construction of construction (construction works, acquisition of the equipment, work on installation, the other capital costs, costs which are not increasing the cost of fixed assets), commissioning or delivery to the investor.
Costs on construction of facilities at the builder also expected expenses (obligations) connected with construction and its financing which the builder will make according to the construction agreement after the termination of asset construction and its input in operation or delivery to the investor are included.
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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