ORDER OF THE MINISTER OF FINANCE OF THE REPUBLIC OF UZBEKISTAN

of February 17, 2010 No. 12

About approval of the Regulations on procedure for reflection in financial accounting of the transactions connected with raw materials supplied by the customer

According to the Law of the Republic of Uzbekistan "About financial accounting" I order:

1. Approve Regulations on procedure for reflection in financial accounting of the transactions connected with raw materials supplied by the customer according to appendix.

2. This order becomes effective after ten days from the date of its state registration in the Ministry of Justice of the Republic of Uzbekistan.

Appendix

to the Order of the Minister of Finance of the Republic of Uzbekistan of February 17, 2010 No. 12

Regulations on procedure for reflection in financial accounting of the transactions connected with raw materials supplied by the customer

This Provision according to the Law of the Republic of Uzbekistan "About financial accounting" establishes procedure for reflection in financial accounting of the transactions connected with raw materials supplied by the customer.

Action of this provision extends on all business entities - legal entities (further - the organizations), except for state-financed and insurance companies, banks and other credit institutions.

Paragraph 1. General provisions

1. In this Provision the following basic concepts are applied:

the customer - the organization which transfers raw materials supplied by the customer to industrial conversion;

the processor - the organization accepting raw materials supplied by the customer for industrial conversion with condition of the subsequent return of products of its conversion to the provider;

raw materials supplied by the customer - the raw materials and materials belonging to the customer and transferred to industrial conversion to other person - to the processor with condition of the subsequent return of products of their conversion to the customer according to the signed agreement of conversion of raw materials supplied by the customer.

2. This Provision is not applied when accounting the transactions connected with separate agreement types of the contract (the consumer work, construction in a row, in a row on project or prospecting works, in a row for research, developmental and technological works) and with joint activities for the agreement of particular partnership.

3. Primary accounting (documentary registration) on the services rendered to agricultural and other organizations, and also physical persons on grain conversion is performed according to the Regulations on procedure for primary accounting and documentary registration of acceptance, storage, internal transfer, conversion and realization of grain and bakery products approved by the resolution of the Cabinet of Ministers of the Republic of Uzbekistan of May 25, 2006 No. 95 (Collection of the legislation of the Republic of Uzbekistan, 2006, No. 22, the Art. 191).

4. Obligatory details of the source documents constituted at the customer and the processor procedure for their creation, acceptance, storage, and also procedure of document flow are regulated according to article 14 of the Law of the Republic of Uzbekistan "About financial accounting" both Regulations on documents and document flow in financial accounting (reg. No. 1297 of January 14, 2004) (Collection of the legislation of the Republic of Uzbekistan, 2004, Art. No. 1-2, 24).

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