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The document ceased to be valid since  July 7, 2018 according to Item 2 of the Resolution of Board of the National Bank of Ukraine of  July 4, 2018 No. 75

It is registered

Ministry of Justice of Ukraine

February 1, 1999 

No. 56/3349

RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of December 30, 1998 No. 566

About approval of the Regulations on the organization of financial accounting and the reporting in banks of Ukraine

(as amended on 09-04-2015)

According to the Law of Ukraine "About banks and banking activity", for the purpose of introduction of unified organizational bases of financial accounting and the reporting in banks of Ukraine the Board DECIDES:

1. Approve Regulations on the organization of financial accounting and the reporting in banks of Ukraine it (is applied).

2. The resolution becomes effective in 10 days after registration in the Ministry of Justice of Ukraine.

3. Oblige organizations of commercial banks to develop until the end of 1999 regulations on accounting policy of bank, and also methodology and procedures for financial accounting which regulate this policy.

4. To impose control of execution of this resolution on Accounting department (P.M.Senishch).

Chairman

V. A. Yushchenko

 

Approved by the Resolution of Board of the National Bank of Ukraine of December 30, 1998 No. 566

Regulations on the organization of financial accounting and the reporting in banks of Ukraine

1. General provisions

1.1. Basic provisions.

The regulations on the organization of financial accounting and the reporting in banks of Ukraine (further - the Provision) establish organizational bases of financial accounting and the financial reporting in banks. The purpose of the organization of financial accounting is providing users with necessary and reliable information about transactions of bank.

This Provision is developed according to the Laws of Ukraine "About the National Bank of Ukraine", "About banks and banking activity", "About financial accounting and the financial reporting in Ukraine" concerning the organization and procedure for financial accounting and financial reporting preparation in banks and is based on the basic principles of international accounting standards.

_______________________________

* The terms and determinations listed in Item 1.1.2 explain the basic principles of international accounting standards.

Regulation of financial accounting and the reporting in banks performs the National Bank of Ukraine which in connection therewith the Provision and taking into account the commonly accepted system of accounting in the international practice develops and approves the Chart of accounts of financial accounting of the National Bank of Ukraine, the Chart of accounts of financial accounting of banks of Ukraine and other regulatory legal acts concerning financial accounting and financial reporting preparation which are obligatory for accomplishment by banks of Ukraine.

1.1.1. Accounting (financial) accounting in banks of Ukraine is component of system of accounting which includes set of rules, techniques and accounting procedures for detection, measurement, registration, accumulating, generalization, storage and information transfer about transactions of bank to external users, and also internal users for acceptance of management decisions.

1.1.2. Financial accounting and the financial reporting in banks of Ukraine are based on such principles:

complete lighting - all transactions are subject to registration on accounts of financial accounting without any exceptions. The financial reporting shall contain all information on the actual and potential consequences of transactions of bank which can influence the decisions made according to such reporting;

essence prevalence over form - transactions are considered and reveal in the reporting according to their essence and economic content, and not just according to their legal form;

autonomy - assets and liabilities of bank shall be separated assets and liabilities of owners of this bank and other banks (companies) with respect thereto personal property and obligations of owners shall not be displayed in the financial reporting of bank. Assets controlled - the resources which resulted from last events which use, as expected, will lead to receipt of economic benefits in the future. Obligations - the present debt arises owing to last events and which repayment in the future, as expected, will lead to reduction of the resources personifying economic benefits;

thrift - application in financial accounting of evaluation methods according to which assets and/or the income will not be overestimated and obligations and/or expenses - will not be underestimated;

The continuity - assessment of assets and liabilities is performed, proceeding from the assumption that the bank is continuously acting and will remain acting in the near future;

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