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Ministry of Justice

Russian Federation

On October 27, 2008 No. 12522

ORDER OF THE MINISTRY OF FINANCE OF THE RUSSIAN FEDERATION

of October 6, 2008 No. 106n

About approval of accounting regulations

(as amended on 28-04-2017)

For the purpose of enhancement of normative legal regulation in the sphere of financial accounting and accounting records and according to the Regulations on the Ministry of Finance of the Russian Federation approved by the order of the Government of the Russian Federation of June 30, 2004 N 329 (The Russian Federation Code, 2004, N 31, Art. 3258; N 49, of Art. 4908; 2005, N 23, Art. 2270; N 52, of Art. 5755; 2006, N 32, Art. 3569; N 47, of Art. 4900; 2007, N 23, Art. 2801; N 45, of Art. 5491; 2008, N 5, to the Art. 411), I order:

1. Approve:

a) The accounting regulation "Accounting Policy of the Organization" (PBU 1/2008) according to the appendix N 1;

b) The accounting regulation "Changes of Estimative Values" (PBU 21/2008) according to the appendix N 2.

2. Declare invalid the order of the Ministry of Finance of the Russian Federation of December 9, 1998 of N 60 N "About approval of the Accounting regulation "Accounting Policy of the Organization" PBU 1/98" (the order is registered in the Ministry of Justice of the Russian Federation on December 31, 1998, registration number 1673; Bulletin of regulations of federal executive bodies, N 2, on January 11, 1999; "The Russian newspaper", N 10, on January 20, 1999).

3. Determine that this order becomes effective since January 1, 2009.

 Deputy Prime Minister of Russia Minister of Finance of the Russian Federation

A. L. Kudrin

Appendix No. 1

to the Order of the Ministry of Finance of the Russian Federation of October 6, 2008 No. 106n

Accounting regulation "Accounting Policy of the Organization" (PBU 1/2008)

I. General provisions

1. This Provision establishes rules of forming (the choice or development) and disclosure of accounting policy of the organizations, being legal entities by the legislation of the Russian Federation (except for credit institutions and the organizations of public sector) (further - the organizations).

Branches and representative offices of the foreign organizations which are in the territory of the Russian Federation can create accounting policy according to this Provision or proceeding from the rules established in the country of finding of the foreign organization if the last do not contradict International accounting standards.

2. For the purposes of this provision 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, application of accounts of financial accounting, the organization of bookkeeping registers, information processing belong to methods of financial accounting.

3. This Provision extends:

regarding forming of accounting policy - on all organizations;

regarding disclosure of accounting policy - on the organizations publishing the accounting records fully or partially according to the legislation of the Russian Federation, constituent documents or on own initiative.

II. Forming of accounting policy

4. Accounting policy of the organization is created by the chief accountant or the other person to who financial accounting of the organization is in accordance with the legislation of the Russian Federation assigned, on the basis of this provision and affirms the head of the organization.

At the same time affirm:

the working chart of accounts of financial accounting containing the synthetic and analytical accounts necessary for financial accounting according to requirements of timeliness and completeness of accounting and the reporting;

forms of source accounting documents, bookkeeping registers, and also documents for internal accounting records;

procedure for carrying out inventory count of assets and liabilities of the organization;

methods of assessment of assets and liabilities;

rules of document flow and technology of processing of accounting information;

procedure for control of economic activities;

other decisions necessary for the organization of financial accounting.

5. When forming accounting policy it is supposed that:

assets and liabilities of the organization exist separately from assets and liabilities of owners of this organization and assets and liabilities of other organizations (assumption of property isolation);

the organization will continue the activities in the near future and it has no intentions and need of liquidation or essential reducing activities and, therefore, the obligation will be settled in accordance with the established procedure (going concern assumption);

the accounting policy accepted by the organization is applied consistently of one accounting year to another (assumption of the sequence of application of accounting policy);

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 (assumption of temporary definiteness of the facts of economic activity).

5.1. The organization chooses methods of financial accounting irrespective of the choice of methods of financial accounting by other organizations. If the main society approves the accounting standards obligatory to application by its subsidiary, that such subsidiary chooses methods of financial accounting proceeding from the specified standards.

6. Accounting policy of the organization shall provide:

completeness of reflection in financial accounting of all facts of economic activity (the requirement of completeness);

timely reflection of the facts of economic activity in financial accounting and accounting records (the requirement of timeliness);

big readiness for recognition in financial accounting of expenses and obligations, than possible income and assets, without allowing creation of the hidden reserves (the requirement of discretion);

reflection in financial accounting of the facts of economic activity proceeding not so much from their legal form how many from their economic content and conditions of managing (the requirement of priority of content before form);

identity of data of analytics to turnovers and account balances of synthetic accounting the last calendar day of every month (the requirement of consistency);

rational financial accounting, proceeding from conditions of managing and size of the organization, and also proceeding from ratio of costs for forming of information on specific object of financial accounting and usefulness (value) of this information (the requirement of rationality).

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