of April 17, 2002 No. 62
About approval of the instruction on accounting accounting "Accounting policy of the organization"
According to the Regulations on the Ministry of Finance of the Republic of Belarus approved by the resolution of Council of Ministers of the Republic of Belarus of October 31, 2001 the No. 1585 Ministry of Finance of the Republic of Belarus decides:
1. Approve the enclosed Instruction for the financial accounting "Accounting Policy of the Organization".
2. This resolution becomes effective since January 1, 2003.
Approved by the Resolution of the Ministry of Finance of the Republic of Belarus of April 17, 2002 No. 62
1. The instruction for the financial accounting "Accounting Policy of the Organization" (further - the Instruction) establishes forming bases (the choice and reasons) and disclosure (publicity giving) of accounting policy of the organization. The concept of the organization is given in article 1 of the Law of the Republic of Belarus of October 18, 1994. "About financial accounting and the reporting" (Vyarkho¸naga Savet's Vedamastsi of Respubliki Belarus, 1994, No. 34, Art. 566; National register of legal acts of the Republic of Belarus, 2001, No. 63, 2/785).
2. For the purposes of this Instruction accounting policy of the organization is understood as the set of methods of financial accounting accepted by it - primary observation, cost measurement, the current group and final generalization of the facts of economic activity.
Methods of group and assessment of the facts of economic activity, cost repayment of assets, the organizations of document flow, inventory count, methods of application of accounts of financial accounting, system of bookkeeping registers, information processing and different corresponding ways and acceptances belong to methods of financial accounting.
3. This Instruction extends:
regarding forming of accounting policy - on the organization irrespective of forms of business;
regarding disclosure of accounting policy - on the organizations publishing the accounting records fully or partially according to the legislation of the Republic of Belarus, constituent documents or on own initiative.
4. The instruction is element of system of normative regulation of financial accounting in the Republic of Belarus and shall be applied taking into account other regulatory legal acts on financial accounting.
The accounting policy approved by the organization is obligatory for application of the organization by all structural divisions (including allocated for separate balance) irrespective of location.
Branches and representative offices of the foreign organizations which are in the territory of the Republic of Belarus can create the accounting policy proceeding from the rules established in the country of finding of these organizations if these rules do not contradict international accounting standards and the reporting, and also the legislation of the Republic of Belarus.
5. Accounting policy of the organization is created by the chief accountant (accountant) of the organization on the basis of this Instruction and the legislation of the Republic of Belarus and affirms the head of the organization.
6. Financial accounting in the organization is performed according to accounting policy of the organization created according to the legislation of the Republic of Belarus.
7. Accounting policy of the organization includes:
the description of the accepted methods of financial accounting;
chart of accounts of financial accounting of the organization;
the forms of source documents and bookkeeping registers applied by the organization if they differ from standard;
regulation of movement of source documents and registers in financial accounting of the organization (the schedule of document flow).
8. When forming accounting policy of the organization it is necessary to proceed from:
isolation of accounting of assets and liabilities of the organization from assets and liabilities of other legal entities and physical persons;
going concerns of the organization;
sequences of application of accounting policy;
temporary definiteness of the facts of economic activity.
9. Accounting policy of the organization shall conform to requirements of completeness, discretion, content priority before form, consistency and rationality.
10. The accounting policy accepted by the organization is applied consistently of one accounting year to another.
11. The facts of economic activity of the organization belong to that accounting period in which they took place, irrespective of the actual time of receipt or payment of the money connected with these facts.
12. When forming accounting policy of the organization for the specific direction of maintaining and the organization of financial accounting the choice of one method from several allowed by the legislation and regulatory legal acts on financial accounting is performed. If on specific question in regulatory legal acts methods of financial accounting are not established, then when forming accounting policy development of the corresponding method by the organization proceeding from this Instruction and other accounting regulations and the reporting is performed.
13. The accounting policy accepted by the organization is drawn up by the corresponding documentation (the decision, the order, the order, other document).
14. The methods of financial accounting elected by the organization when forming accounting policy are applied since January first the year following after year of approval of the relevant document. At the same time they are applied by all branches, representations and other divisions of the organization (including allocated for separate balance) irrespective of their location.
Again created organization draws up the chosen accounting policy according to this Instruction before the first publication of accounting records, but no later than 90 days from the date of state registration. The accounting policy accepted by the newly created organization is considered applied from the date of creation (state registration).
15. The organization shall open the methods of financial accounting chosen when forming accounting policy significantly influencing assessment and decision making by the interested users of accounting records. At the same time methods of financial accounting without knowledge of which application by the interested users of accounting records reliable assessment of financial position, cash flow or financial results of organization activity is impossible are recognized essential.
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