Document from CIS Legislation database © 2003-2022 SojuzPravoInform LLC

Registered by

Ministry of Justice of Ukraine

June 3, 2005

No. 621/10901

ORDER OF THE MINISTRY OF FINANCE OF UKRAINE

of May 19, 2005 No. 412

About approval of the National provision (standard) of financial accounting 29 "The financial reporting on segments"

(as amended on 21-04-2022)

According to article 6 of the Law of Ukraine "About financial accounting and the financial reporting in Ukraine" PRIKAZYVAYU:

1. Approve the National provision (standard) of financial accounting 29 "The financial reporting on segments" approved by Methodological council on financial accounting under the Ministry of Finance of Ukraine which is applied.

2. In Item 3 of the National provision (standard) of financial accounting 27 "The non-current assets withheld for sale, and discontinued operation", the Ministry of Finance of Ukraine approved by the order of November 7, 2003 and registered in the Ministry of Justice of Ukraine on November 17, 2003 for No. 1054/8375, paragraphs two and third to exclude No. 617.

3. To provide to management of methodology of financial accounting (Parkhomenko V. M.) provision of this order on state registration in the Ministry of Justice of Ukraine.

4. To management of interaction with the public and mass media of Department of ensuring activities of the Minister (Solodchuk L. M.) after state registration of this order to provide its publication in mass media.

5. To impose control of execution of this order on the Deputy Minister of Finance of Ukraine of Reguretsky V. V.

 

Minister

V. M. Pinzenik

Approved by the Order of the Ministry of Finance of Ukraine of May 19, 2005 No. 412

National provision (standard) of financial accounting 29 "The financial reporting on segments"

General provisions

1. National provision (standard) of financial accounting 29 "The financial reporting on segments" / further - The national provision (standard) 29/determines methodological bases of forming of information on the income, expenses, financial results, assets and liabilities of reporting segments and its disclosure in the financial reporting.

2. Regulations of the National provision (standard) 29 are applied by the companies, the organizations and other legal entities (further - the company) irrespective of patterns of ownership (except legal entities who according to the Law of Ukraine "About financial accounting and the financial reporting in Ukraine" are acknowledged as the microcompanies, small enterprises, not entrepreneurial societies, the companies which keep the simplified financial accounting of the income and expenses according to the tax legislation, of budgetary institutions and the companies which according to the legislation constitute the financial reporting under International Financial Reporting Standards) if the company holds the exclusive (dominating) products market position (goods, works, services) or if concerning products (goods, works, services) of the company prior to the beginning of accounting year the decision on state regulation of the prices, including the companies which perform production is made, transportation, delivery of heat energy also render services in centralized water supply and drainage system.

3. Information on reporting segments is given in Appendix to notes to the annual financial reporting "Information on Segments" - form No. 6 (appendix 1 to the National provision (standard) 29).

4. Terms which are used in provisions (standards) of financial accounting have such value:

Reporting segment - the economic or geographical area determined by the company for the criteria given in Items 6-9 of the National provision (standard) 29, concerning which information shall reveal in the annual financial reporting.

Intraeconomic calculations - the calculations resulting from economic activities between the structural divisions of the company allocated as segments for the purpose of disclosure of their income, expenses, financial results, assets and liabilities.

Geographical area - the separated part of activities of the company for production and/or sale of certain type (or groups) products (goods, works, services) in specific economic environment which differs from others:

economic and political conditions of the geographical region;

interrelation between activities in various geographical regions;

territorial arrangement of production (works, services) or buyers of products (goods, works, services);

risks of activities, characteristic of the geographical region;

rules of currency exchange control and currency risks in such regions.

Economic segment - the separated part of activities of the company for production and/or sale of certain type (or groups) products (goods, works, services) which differ from others:

products type (goods, works, services);

by income acquisition method (method of distribution of products, goods, works, services);

nature of production process;

risks, characteristic of these activities;

buyer category.

Determination of reporting segments

5. Information is created in financial accounting on economic and geographical areas which are determined by the company based on its organizational structure.

The segment can be determined also by criterion of observance of single engineering procedure which can be performed in several geographical regions that is caused by products production stages, policy of after-sale service, delivery conditions of goods and so forth.

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