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Ministry of Justice of Ukraine

August 17, 2000

No. 515/4736

ORDER OF THE MINISTRY OF FINANCE OF UKRAINE

of August 10, 2000 No. 193

About approval of the National provision (standard) of financial accounting 21 "Influence of changes of the currency rates"

(as amended on 12-01-2023)

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 National provision (standard) of financial accounting 21 "Influence of changes of the currency rates" (further - the Provision (standard) 21) approved by Methodological council on financial accounting under the Ministry of Finance of Ukraine which is applied.

2. The national provision (standard) 21 becomes effective since January 1, 2001.

3. Recognize losing force since January 1, 2001:

the order of the Ministry of Finance of Ukraine of February 14, 1996 No. 29 "About approval of the Accounting regulation of foreign currency transactions", registered in the Ministry of Justice of Ukraine on February 20, 1996 at No. 82/1107;

Item 2 of the order of the Ministry of Finance of Ukraine of December 5, 1997 No. 268 "About modification and amendments in regulating documents on financial accounting", registered in the Ministry of Justice of Ukraine on December 18, 1997 at No. 601/2405.

Deputy minister

V. V. Reguretsky

 

Approved by the Order of the Ministry of Finance of Ukraine of August 10, 2000 No. 193

National provision (standard) of financial accounting 21 "Influence of changes of the currency rates"

General provisions

1. Provision (standard) of financial accounting 21 "Influence of changes of the currency rates" (further - the Provision (standard) 21) determines methodological bases of forming in financial accounting of information on transactions in foreign currencies and display of indicators of financial statement line items of economic units outside Ukraine in monetary unit of Ukraine.

2. Norma Polozheniya (standard) 21 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. The provision (standard) 21 does not extend on:

transactions of hedging of Articles on foreign currency;

display (recalculation) of indicators of the financial statement line items provided in reporting currency, in foreign currency.

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

Reporting currency - monetary unit of Ukraine.

The currency rate - the official exchange rate of monetary unit of Ukraine established by the National Bank of Ukraine to monetary unit of other country.

Economic unit outside Ukraine - the affiliated, associated, joint business, branch, representation or other division of the company which are or conduct economic activity outside Ukraine.

Foreign currency - currency another, than reporting currency.

Exchange difference - difference between estimates of identical quantity of units of foreign currency in case of various currency rates.

Monetary items - balance sheet items about money, and also about such assets and liabilities which will be received or paid in fixed (or determined) to amount of money or their equivalents.

Not monetary items - Articles others, than monetary items of balance.

Foreign currency transaction - economic activity which cost is determined in foreign currency or which needs payments in foreign currency.

Foreign currency transactions

5. Foreign currency transactions in case of initial recognition are reflected in reporting currency by recalculation of foreign currency amount using the currency rate for the beginning of day, transaction date (date of recognition of assets, obligations, equity, the income and expenses). The company can transactions from clearing settlements in foreign currency reflect in reporting currency in the amount determined in documents of bank taking into account features of application by bank of the currency rate for transaction date if it does not contradict requirements of the tax and customs legislation regarding application of the currency rate.

6. The advance amount (advance payment) in foreign currency provided to other persons on account of payments for acquisition of non-monetary assets (inventories, fixed assets, intangible assets and so forth) and receipt of works and services in case of inclusion in the cost of these assets (works, services) is converted into reporting currency using the currency rate for the beginning of day of payment date of advance payment. In case of implementation of advance payments to the supplier parts and obtaining by parts from the supplier of non-monetary assets (works, services) the cost of the received assets (works, services) is recognized foreign currency on the amount of advance payments using the currency rates, proceeding from the sequence of implementation of advance payments.

The advance amount (advance payment) in foreign currency received from other persons on account of payments for delivery of finished goods, other assets, performance of works and services in case of inclusion in structure of the income of the accounting period is converted into reporting currency using the currency rate for the beginning of day of the date of receipt of advance payment. In case of obtaining from the buyer of advance payments parts and shipments by parts to the buyer of non-monetary assets (works, services) the income from realization of assets (works, services) is recognized foreign currency on the amount of advance payments using the currency rates, proceeding from the sequence of receipt of advance payments.

Book value of the specified balance sheet items is determined further estimated) according to relevant provisions (standards) of financial accounting.

7. For each date of balance:

a) monetary items in foreign currency are displayed with use of the day-end currency rate of date of balance;

b) not monetary items which are displayed on historical cost and which transfer in balance is connected with foreign currency transaction are displayed by the currency rate for the beginning of day of transaction date;

c) not monetary items at fair value in foreign currency are displayed by the currency rate for the beginning of day of date of determination of this fair value.

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