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Ministry of Justice

Russian Federation

On October 27, 2008 No. 12523

ORDER OF THE MINISTRY OF FINANCE OF THE RUSSIAN FEDERATION

of October 6, 2008 No. 107n

About approval of the Accounting regulation "The Expense Accounting on Loans and the Credits" (PBU 15/2008)

(as amended on 06-04-2015)

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 the enclosed Accounting regulation "The Expense Accounting on Loans and the Credits" (PBU 15/2008).

2. Determine that this Order becomes effective from accounting records of 2009.

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

A. L. Kudrin

Approved by the Order of the Ministry of Finance of the Russian Federation of October 6, 2008 No. 107n

Accounting regulation "The Expense Accounting on Loans and the Credits" (PBU 15/2008)

I. General provisions

1. This Provision establishes features of forming in the financial accounting and accounting records of expense information connected with accomplishment of obligations on the obtained loans (including attraction of borrowed funds by issue of bills of exchange, release and sale of bonds) and to the credits (including commodity and commercial), the organizations, being legal entities by the legislation of the Russian Federation (except for credit institutions and the public (municipal) institutions).

2. The main amount of the obligation on the obtained loan (credit) is reflected in financial accounting by the organization borrower as accounts payable in accordance with the terms of the loan agreement (credit agreement) in the amount specified in the agreement.

3. The expenses connected with accomplishment of obligations on the obtained loans and the credits (further - expenses on loans), are:

the percent which are payable to the lessor (creditor);

additional expenses on loans.

Additional expenses on loans are:

the amounts paid for information and consulting services;

the amounts paid for examination of the loan agreement (credit agreement);

other expenses which are directly connected with receipt of loans (credits).

4. Expenses on loans are reflected in financial accounting separately from the main amount of the obligation on the obtained loan (credit).

5. Repayment of the main amount of the obligation on the obtained loan (credit) is reflected in financial accounting by the organization borrower as reduction (repayment) of accounts payable.

II. Accounting treatment for expenses on loans

6. Expenses on loans are reflected in financial accounting and the reporting in that accounting period which they treat.

7. Expenses on loans are recognized other expenses, except for to that their part which is subject to inclusion in the cost of investment asset if other is not established by this Item.

The cost of investment asset joins the percent which are payable to the lessor (creditor), directly connected with acquisition, construction and (or) production of investment asset.

For the purposes of this provision the investment asset is understood as object of property which preparation for intended use requires long time and essential expenses on acquisition, construction and (or) production. Objects of work in progress and construction in progress which will be accepted subsequently to financial accounting by the borrower and (or) customer (the investor, the buyer) as fixed assets (including the parcels of land), intangible assets or other non-current assets belong to investment assets.

The organizations which have the right to apply the simplified methods of financial accounting including the simplified accounting (financial) records, can recognize all expenses on loans as other expenses.

8. The percent which are payable to the lessor (creditor) join in the cost of investment asset or in structure of other expenses regularly, as a rule, irrespective of conditions of provision of loan (credit). The percent which are payable to the lessor (creditor) can join in the cost of investment asset or in structure of other expenses proceeding from conditions of provision of loan (credit) in that case when such inclusion significantly does not differ from uniform inclusion.

Additional expenses on loans can be included regularly other expenses during the term of loan (credit agreement).

9. The percent which are payable to the lessor (creditor) join in the cost of investment asset in the presence of the following conditions:

a) expenses on acquisition, construction and (or) production of investment asset are subject to recognition in financial accounting;

b) the expenses on loans connected with acquisition, construction and (or) production of investment asset are subject to recognition in financial accounting;

c) works on acquisition, construction and (or) production of investment asset are begun.

10. The percent which are payable to the lessor (creditor), connected with acquisition, construction and (or) production of investment asset decrease by the size of the income from temporary use of means of the obtained loans (credits) as long-term and (or) short-term financial investments.

11. In case of suspension of acquisition, construction and (or) production of investment asset for the long period (more than three months) the percent which are payable to the lessor (creditor) stop to join in the cost of investment asset from the first following after month of suspension of acquisition, construction and (or) production of such asset.

During the specified period the percent which are payable to the lessor (creditor) are included other expenses of the organization.

In case of renewal of acquisition, construction and (or) production of investment asset the percent which are payable to the lessor (creditor) join in the cost of investment asset from the first following after month of renewal of acquisition, construction and (or) production of such asset.

The term during which additional coordination of the technical and (or) organizational matters which arose in the course of acquisition, construction and (or) production of investment asset is made is not considered the period of suspension of acquisition, construction and (or) production of investment asset.

12. The percent which are payable to the lessor (creditor) stop to join in the cost of investment asset from the first, after month of the termination of acquisition, construction and (or) production of investment asset.

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