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Ministry of Justice of Ukraine

December 19, 2001

No. 1050/6241


of November 30, 2001 No. 559

About approval of the Provision (standard) of the financial accounting 13 "Financial instruments"

(The last edition from 27-06-2013)

In pursuance of the Program of reforming of the system of financial accounting using international standards approved by the resolution of the Cabinet of Ministers of Ukraine of October 28, 1998 No. 1706, and according to articles 1 and 6 of the Law of Ukraine "About financial accounting and the financial reporting in Ukraine" PRIKAZYVAYU:

1. Approve the Provision (standard) of the financial accounting 13 "Financial instruments" approved by Methodological council on financial accounting of the Ministry of Finance of Ukraine which is applied.

2. Determine that the Provision (standard) of the financial accounting 13 "Financial instruments" becomes effective since January 1, 2002.


I. Mityukov

Approved by the Order of the Ministry of Finance of Ukraine of November 30, 2001 No. 559

Provision (standard) of the financial accounting 13 "Financial instruments"

General provisions

1. Provision (standard) of the financial accounting 13 "Financial instruments" (further - the Provision (standard) 13) determines methodological bases of forming in financial accounting of information on financial instruments and its disclosures in the financial reporting.

2. Norma Polozheniya (standard) 13 are applied by the companies, the organizations and other legal entities (further - the companies) irrespective of patterns of ownership (except budgetary institutions and the companies which according to the legislation constitute the financial reporting under International Financial Reporting Standards).

3. Norma Polozheniya (standard) 13 do not extend on:

3.1 financial investments into the associated, joint and affiliated enterprises;

3.2 assets and liabilities of employers concerning pension provision programs;

3.3 the rights and agreement obligations of insurance (except derivative tools in insurance contracts);

3.4 the rights and obligations concerning lease (except the derivative tools provided by the farmout agreement);

3.5 the agreements providing payments proceeding from climatic, geological and other physical changes of the environment;

3.6 agreements on financial guarantees, except the agreements providing payment owing to interest rate realignments, security price, price index, credit rating (index), the currency rate or other variables which are basic;

3.7 agreements on unforeseen compensation when merging the companies.

4. The terms used in provisions (standards) of financial accounting have such value:

Currency risk - probability that the cost of the financial instrument will change owing to changes of the currency rate.

Interest risk - probability that the cost of the financial instrument will change owing to interest rate realignments.

The accounts receivable which are not intended for the pereprodazhidebitorsky debt arising owing to provision of means of sale of other assets, works, services directly to the debtor are also not financial asset, held for resale.

The equity tool - the contract confirming the right to part in assets of the company which remains after amount deduction according to all its obligations.

Hedging instrument - the derivative financial instrument, financial asset or the financial liability, which fair value and cash flows from which, as expected, will compensate changes of fair value or cash flow of object of hedging.

Effectiveness ratio of hedging - private from division according to change of fair value or cash flows of object of hedging into change of fair value or cash flow from hedging instrument.

Credit risk - probability of losses of one of the parties originators of the contract on acquisition of the financial instrument owing to default on obligation other party.

Object of hedging - the asset, the obligation or future transaction creating risk of change of fair value of these assets and liabilities or change of the cash flows connected with future transaction for the company.

The derivative financial instrument - the financial instrument:

calculations for which will be perfromed in the future;

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