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RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF BELARUS

of December 5, 2008 No. 183

About approval of the Instruction for financial accounting of the economic activities connected with privatization of the objects which are in state-owned property

(as of August 27, 2009)

IT IS APPROVED

State

committee on property

Republic of Belarus

04.12.2008

 

Based on the Regulations on the Ministry of Finance of the Republic of Belarus approved by the resolution of Council of Ministers of the Republic of Belarus of October 31, 2001 No. 1585 "Questions of the Ministry of Finance of the Republic of Belarus", the Ministry of Finance of the Republic of Belarus DECIDES:

Approve the enclosed Instruction for financial accounting of the economic activities connected with privatization of the objects which are in state-owned property.

 

Minister A. M. Harkovets

Approved by the Resolution of the Ministry of Finance of the Republic of Belarus of December 5, 2008 No. 183

The instruction for financial accounting of the economic activities connected with privatization of the objects which are in state-owned property

1. The instruction for financial accounting of the economic activities connected with privatization of the objects which are in state-owned property determines procedure for reflection in financial accounting of economic activities by forming of authorized capital of open joint stock company, by calculations for shares, by sale on tender or at auction of the company as property complex.

2. Cost determination of the state company as property complex, size of authorized capital of the open joint stock company (further - joint stock company) created in the course of transformation of the state unitary enterprise founded on the right of economic maintaining (further - the state company), is made in the procedure established by the legislation.

2-1. In case of identification of excessively added or not additionally accrued depreciation amount in financial accounting of the privatized state company the following records are made:

2-1.1. excessively added depreciation amount is reversed:

for last years - on the debit of account 92 "Non-operating incomes and expenses" in correspondence with the credit of accounts 02 "Fixed asset depreciation", 05 "Depreciation of intangible assets";

in the current year - on the debit of accounts 20 "Main production", 23 "Auxiliary productions", 25 "General production expenses", 26th "General running costs", 29 "Productions of services and farms", 44 "Expenses on realization", 91 "Operating incomes and expenses", 92 "Non-operating incomes and expenses" in correspondence with the credit of accounts 02 "Fixed asset depreciation", 05 "Depreciation of intangible assets";

2-1.2. not additionally accrued depreciation amount for last years is reflected on the debit of account 92 "Non-operating incomes and expenses" in correspondence with the credit of accounts 02 "Fixed asset depreciation", 05 "Depreciation of intangible assets".

The discrepancies revealed when refining results of the carried-out revaluations of the fixed assets which are not finished by construction of facilities, the unspecified equipment are reflected according to Chapters 8 and 13 of the Instruction about procedure for revaluation of the fixed assets which are not finished by construction of facilities and the unspecified equipment, the Republic of Belarus approved by the resolution of the Ministry of Economics, the Ministry of Finance of the Republic of Belarus, the Ministry of statistics and the analysis of the Republic of Belarus and the Ministry of Architecture of the Republic of Belarus of November 20, 2006 No. 199/139/185/34 "About procedure for carrying out revaluation of the fixed assets which are not finished by construction of facilities, the unspecified equipment" (The national register of legal acts of the Republic of Belarus, 2006, No. 204, 8/15437).

3. The closing balance sheet of the privatized state company and introductory balance of joint stock company are constituted as of the 1st in which state registration of joint stock company created in the course of privatization of state-owned property is made. The balance is made according to the Instruction about procedure for creation and submission of the accounting records approved by the resolution of the Ministry of Finance of the Republic of Belarus of February 14, 2008 No. 19 (The national register of legal acts of the Republic of Belarus, 2008, No. 67, 8/18345).

4. The basis for creation of introductory balance of joint stock company is the accounting reference which amount corresponds to the act of determination of the size of authorized capital of joint stock company created in the course of privatization.

Changes in structure and property value of the state company after January 1 of the current year are reflected in introductory balance of joint stock company.

5. In financial accounting of joint stock company of transaction, connected with forming of authorized fund, are reflected in the following procedure:

on the debit of account 98 "Deferred revenues" in correspondence with account 92 credit "Non-operating incomes and expenses" - on the amount gratuitously the received property;

on the debit of accounts 83 "Additional fund" of the corresponding sub-account, 84 "Retained earnings (uncovered loss)", 86th "Target financing" in correspondence with account 80 credit "Authorized capital" - on the amount of means of additional fund, retained earnings, and also means of target financing (except received as fees from other organizations on financing of target programs) including the received means from the budget;

on the debit (credit) of account 99 "Profits and losses" in correspondence with the credit (debit) of account 84 "Retained earnings (uncovered loss)" - on the amount of profit (loss) of accounting year;

on the debit (credit) of account 83 "Additional fund" (except the means considered on sub-accounts "Fund of accumulating" and "Fund of revaluation of balance sheet items") in correspondence with the credit (debit) of account 84 "Retained earnings (uncovered loss)" - decreases the amount of loss of last year, accounting year (is written off);

on the debit of account 82 "Reserve fund" in correspondence with account 80 credit "Authorized capital" - on the amount of unused funds of the reserve fund created by the state company by net profit (profit, being at the command the state company after calculations with the budget for taxes and other payments) which are allocated for increase in authorized fund;

on the debit of account 58 "Financial investments" in correspondence with account 80 credit "Authorized capital" - on difference, between estimated value of the long-term financial investments, formed when evaluating the long-term financial investments in authorized funds of legal entities, and the cost of the long-term financial investments reflected in financial accounting;

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