RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of February 28, 2000 No. 419

About approval of the Procedure for accounts presentation

According to the Law of Ukraine "About financial accounting and the financial reporting in Ukraine" the Cabinet of Ministers of Ukraine decides:

1. Approve the Procedure for accounts presentation it (is applied).

2. Provide to the Ministry of Finance, the Public treasurer service and their territorial authorities the right in case of failure to provide by the ministries, others central and local executive bodies of the financial reporting to stop money transfer from budgets and (or) payment of accounts with the message to heads of noted bodies.

3. Recognize invalid resolutions of the Cabinet of Ministers of Ukraine according to the list it (is applied).

Approved by the Resolution of the Cabinet of Ministers of Ukraine of February 28, 2000, No. 419

Procedure for accounts presentation

1. Action of this Procedure extends on all legal entities irrespective of form of business of housekeeping and pattern of ownership, and also to representative offices of foreign business entities (further - the companies) which shall keep financial accounting and submit the financial reporting according to the legislation.

2. The financial reporting moves to bodies which sphere of management the companies, to labor collectives according to their requirement, owners (founders) according to constituent documents, and also according to the legislation - to other bodies and users, in particular bodies of the state statistics treat.

The financial reporting and consolidated financial statements are constituted by national provisions (standards) of financial accounting or international accounting standards or national provisions (standards) of financial accounting in public sector according to the legislation.

The financial reporting and consolidated financial statements are constituted under International Financial Reporting Standards by public joint stock companies, the companies issuers of securities which securities are admitted to trading in the controlled market of the capital or concerning securities of which the public offer, by banks, insurers, credit unions, subjects of managing which perform activities in the extracting industries, the companies which according to the Law of Ukraine "About financial accounting and the financial reporting in Ukraine" treat large enterprises, and also the companies performing economic activity by the following types is performed:

provision of financial services, except insurance and provision of pensions (Section 64 KVED of group of companies 009:2010);

non-state pension provision (group 65.3 KVED of group of companies 009:2010);

auxiliary activities in spheres of financial services and insurance (Section 66 KVED of group of companies 009:2010), except for auxiliary activities in the sphere of insurance and provision of pensions (group 66.2 KVED of group of companies 009:2010).

The financial reporting and consolidated financial statements constituted on the basis of taxonomy of the financial reporting under International Financial Reporting Standards in the single electronic format determined by the Ministry of Finance moves in the center of collection of the financial reporting, operation management which exercises NKTsBFR, for the purpose of ensuring access of public authorities, other bodies and users to the financial reporting provided by the companies and consolidated financial statements.

The companies (except budgetary institutions, the microcompanies and small enterprises) submit together with the annual financial reporting the report concerning management. In case of submission of consolidated financial statements by the company the consolidated statement about management moves. Medium scale enterprises have the right not to reflect non-financial information in the report on management.

The companies which perform or procurement of wood and at the same time being of public interest give together with the annual financial reporting payment report for benefit of the state. In case of submission of consolidated financial statements by the company the consolidated statement about payments for benefit of the state moves.

Banks submit the financial reporting, consolidated financial statements, the report on management and consolidated statement about management to National Bank in the procedure established by it.

Subjects of managing which perform activities in the extracting industries, payment report for benefit of the state give according to the Law of Ukraine "About ensuring transparency in the extracting industries".

Managers of means of the government budget and funds of obligatory national social and pension insurance submit the financial reporting to bodies of Treasury constituted according to national provisions (standards) of financial accounting in public sector in the forms established by the Ministry of Finance.

Managers of means of local budgets submit the financial reporting to bodies of Treasury and local financial bodies constituted according to national provisions (standards) of financial accounting in public sector in the forms established by the Ministry of Finance.

Income tax payers in the cases determined by the law give to tax authorities according to the procedure, provided by the Tax code of Ukraine for submission of the tax declaration, intermediate (the I quarter, the first half of the year, nine months) and the annual financial reporting.

The companies which constitute the financial reporting and consolidated financial statements by national provisions (standards) of financial accounting or national provisions (standards) of financial accounting in public sector constitute interim financial statements which cover the corresponding period (the I quarter, the first half of the year, nine months), the accruing result since the beginning of accounting year as a part of balance and the report on financial results.

The companies which according to the Law of Ukraine "About financial accounting and the financial reporting in Ukraine" treat the microcompanies not entrepreneurial societies (except those which shall constitute the financial reporting under International Financial Reporting Standards) and the companies which keep the simplified financial accounting of the income and expenses according to the tax legislation submit to relevant organs the annual financial reporting reduced on indicators as a part of balance and the report on financial results.

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