Document from CIS Legislation database © 2003-2020 SojuzPravoInform LLC

It is registered

in the Ministry of Justice

Republic of Tajikistan

of May 7, 2002 No. 63

ORDER OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF TAJIKISTAN

of March 26, 2002 No. 53

About approval of the Accounting regulation "Events after Reporting Date" (to pb 9/02)

1. Approve the enclosed Accounting regulation "Events after Reporting Date" PBU 9/02.

2. This Provision becomes effective since January 1, 2002.

 

Minister S.Nadzhmuddinov

 

Approved by the Order of the Ministry of Finance of the Republic of Tajikistan of March 26, 2002 No. 53

Accounting regulation "Events after Reporting Date" (PBU 9/02)

I. General provisions

1. This Provision establishes procedure for reflection in accounting records of the companies, being legal entities by the legislation of the Republic of Tajikistan (except credit and budgetary institutions), events after reporting date.

II. Concept of events after reporting date

2. The event after reporting date admits the fact of economic activity which exerted or can exert impact on financial condition, cash flow or results of activities of the companies and which took place during the period between reporting date and signature date of accounting records for accounting year.

Event after reporting date also the announcement of annual dividends by results of activities of joint-stock company for accounting year is recognized.

3. The date specified in the represented addresses determined by the legislation of the Republic of Tajikistan, accounting records in case of its signing in accordance with the established procedure is considered signature date of accounting records.

4. After reporting date treat events:

the events confirming existence on reporting date economic conditions in which the company conducted the activities;

the events testifying to the economic conditions which arose after reporting date in which the company conducted the activities.

The approximate list of the facts economic activities which can be recognized as events after reporting date is given in appendix to this Provision.

III. Reflection of events after reporting date and their consequences in accounting records

5. The essential event after reporting date is subject to reflection in accounting records for accounting year irrespective of positive or its negative nature for the companies.

The event after reporting date is recognized essential if without knowledge of it users of accounting records reliable assessment of financial condition, cash flow or results of activities the company is impossible.

Materiality of event after reporting date determines the company independently proceeding from requirements of provisions of regulations for financial accounting.

6. Event consequences after reporting date are reflected in accounting records by refining of data on the corresponding assets, obligations, the capital, the income and expenses of the companies, or by disclosure of the relevant information.

7. In case of creation of accounting records the company estimates event consequences after reporting date in terms of money. For assessment in terms of money of event consequences after reporting date the company makes the corresponding calculations. Confirmation of such calculation shall be provided with the company.

8. Data on assets, obligations, the capital, the income and expenses of the companies are reflected in accounting records taking into account the events after reporting date confirming the economic conditions existing on reporting date in which the company conducted the activities or witnessing about the economic conditions which arose after reporting date in which the company leads the activities and by that impossibility of application of going concern assumption of the company to activities of the companies in general or its any essential part. At the same time events after reporting date are reflected in synthetic or analytics by final turnovers of the accounting period before approval of annual accounting records in accordance with the established procedure.

Example. According to accounting records of the companies as of December 31 of accounting year it is reflected accounts receivable for the total amount of 10 thousand somoni. In February of year of the following for reporting, the company obtained information that one of debtors which debt as of December 31 of accounting year constituted 4 thousand somoni is declared in accordance with the established procedure at the end of January by bankrupt. In this situation the company shall reduce the accounts receivable amount by 4 thousand somoni and to recognize in accounting records as of December 31 of accounting year loss from write-off of accounts receivable. Necessary records in financial accounting of the companies for write-off of this debt shall be made by final turnovers of the accounting period.

The procedure of payments and reflections in financial accounting and the reporting of tax effects of the events after reporting date provided by this Item is established by the separate accounting regulation.

In case of approach of event after reporting date in financial accounting of the period of the following behind reporting, record on the amount reflected in financial accounting of the accounting period according to this Item is made stornirovochny (or the return). At the same time in financial accounting of the period following for reporting in general procedure the entry reflecting this event is made.

9. The event after reporting date testifying to the economic conditions which arose After reporting date in which the company conducts the activities, reveals in explanations to the balance sheet and the profit and loss statement. At the same time in the accounting period no records in accounting (synthetic and analytical) accounting are made.

In the same procedure is reflected in accounting records the annual dividends recommended or announced in accordance with the established procedure by results of work of the companies for accounting year.

Example. In the balance sheet as of December 31 of accounting year considerable investments of the companies are reflected in the share of other company. In February of the year following reporting the company obtained information that market price of these of the share in February considerably decreased. In this situation the company shall open in explanations to the balance sheet and the profit and loss statement the relevant information.

In case of approach of event later, reporting date in financial accounting of the period following for reporting in general procedure the entry reflecting this event is made.

10. Information opened in explanations to the balance sheet and the profit and loss statement according to Item 9 of this provision shall include the short description of nature of event after reporting date and assessment of its consequences in terms of money. If opportunity to estimate event consequences after reporting date in terms of money is absent, then the company shall specify it.

Appendix

to the Accounting regulation "Events after Reporting Date" (LBU 9/02)

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