RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of July 30, 2009 No. 125

About approval of the Instruction for recognition in financial accounting of the income and expenses

Based on the paragraph of the thirty seventh of Article 26 and part one of article 39 of the Bank code of the Republic of Belarus the Board of National Bank of the Republic of Belarus DECIDES:

1. Approve the Instruction for recognition in financial accounting of the income and expenses it (is applied).

2. To National Bank of the Republic of Belarus, banks of the Republic of Belarus during 2010:

2.1. analyse the remaining balance of means which is registered as of January 1, 2010 on balance and off-balance sheet accounts:

groups 497 "The income to obtaining - percent" and 498 "The income to obtaining - other incomes" according to the Chart of accounts of financial accounting in National Bank of the Republic of Belarus and Instructions on application of the Chart of accounts of financial accounting in National Bank of the Republic of Belarus according to appendices 1 and 2 to the Instruction for conducting financial accounting in National Bank of the Republic of Belarus approved by the resolution of the Board of directors of National Bank of the Republic of Belarus of November 23, 2005 No. 349;

groups 687 "The income to obtaining - percent", 688 "The income to obtaining - other incomes", 9998 "The uncollected income" according to the chart of accounts of financial accounting in banks of the Republic of Belarus and instructions for application of the chart of accounts of financial accounting in banks of the Republic of Belarus according to appendices 1 and 2 to the resolution of the Board of directors of National Bank of the Republic of Belarus of September 19, 2005 No. 283 "About conducting financial accounting in the banks located in the territory of the Republic of Belarus" (The national register of legal acts of the Republic of Belarus, 2005, No. 172, 8/13232);

2.2. bring the specified remaining balance of means into accord with requirements of the enclosed Instruction.

3. To banks of the Republic of Belarus till January 1, 2010 to develop local regulatory legal acts according to the enclosed Instruction.

4. Recognize invalid:

the resolution of the Board of directors of National Bank of the Republic of Belarus of January 14, 2003 No. 3 "About modification and amendments in the Rules of charge of percent in banks of the Republic of Belarus approved by the resolution of the Board of directors of National Bank of the Republic of Belarus of December 29, 2000 No. 31.3g" (The national register of legal acts of the Republic of Belarus, 2003, No. 16, 8/9040);

the resolution of the Board of directors of National Bank of the Republic of Belarus of November 23, 2005 No. 350 "About approval of the Instruction about financial accounting of the income and expenses in National Bank and banks of the Republic of Belarus" (The national register of legal acts of the Republic of Belarus, 2005, No. 195, 8/13536).

5. This resolution becomes effective since January 1, 2010, except for Item 3 and this Item which become effective after official publication of this resolution.

Approved by the Resolution of Board of National Bank of the Republic of Belarus of July 30, 2009 No. 125

The instruction for recognition in financial accounting of the income and expenses

Chapter 1. General provisions

1. This Instruction establishes procedure for recognition in financial accounting of the income and expenses in banks, the non-bank credit and financial organizations and "Development Bank of the Republic of Belarus" open joint stock company (further – banks).

2. No. 722 is excluded according to the Resolution of Board of National Bank of the Republic of Belarus of 10.12.2013

3. For the purposes of this Instruction following terms are used in the following values:

the accounting period – one calendar month;

accrual basis – the income and expenses relating to the accounting period are reflected in financial accounting and accounting (financial) records in incomes and expenditure accounts in this period irrespective of the actual time of their receipt or payment respectively;

recognition – reflection of transaction in financial accounting and (or) accounting (financial) records;

imputed income – the income which is receivable and considered on balance sheet accounts on accounting of imputed incomes;

accrued expense – the expense which is payable and considered on balance sheet accounts on accounting of accrued expenses;

the overdue income – debt of the client, issuer on payment of the income which is not gained in time, provided by the agreement or the legislation, and considered on the balance sheet account;

deferred revenues – the income gained in the current accounting period, but relating to future accounting periods;

deferred expenses – the expenses made in the current accounting period, but relating to future accounting periods.

The terms "income" and "expenses" have the values determined by the Law of the Republic of Belarus of July 12, 2013 No. 57-Z "About financial accounting and the reporting".

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