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Ministry of Justice of Ukraine

December 26, 2012

No. 2188/22500

RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of December 10, 2012 No. 510

About approval of the Procedure for application of method of transformation during creation of the financial reporting of banks of Ukraine

(as amended of the Resolution of Board of the National Bank of Ukraine of 22.06.2015 No. 399)

According to articles 7 and 41 of the Law of Ukraine "About the National Bank of Ukraine", article 69 of the Law of Ukraine "About banks and banking activity" and for the purpose of creation of the financial reporting by banks of Ukraine according to international accounting standards (further - IFRS) the Board of the National Bank of Ukraine DECIDES:

1. Approve the Procedure for application of method of transformation during creation of the financial reporting of banks of Ukraine which is applied.

2. Banks for which the reporting for 2012 is the first financial reporting which is constituted according to IFRS according to requirements of IFRS 1 "The first application of international accounting standards" (further - IFRS 1) shall rearrange financial statement line items for the purpose of adjustment of the opening balance sheet for 2011.

Banks for which the reporting for 2012 is not the first financial reporting according to IFRS according to requirements of IFRS 1 and which promulgated the financial reporting according to IFRS earlier shall use input data of the financial reporting of the previous accounting period constituted according to IFRS and confirmed with the independent auditor during creation of the reporting.

3. Item 2 of the resolution of Board of the National Bank of Ukraine of October 24, 2011 No. 373 "About approval of the Instruction about procedure for creation and promulgation of the financial reporting of banks of Ukraine", registered in the Ministry of Justice of Ukraine on November 10, 2011 for No. 1288/20026, to add with the offer of such content: "Banks constitute annual and consolidated financial statements taking into account the Procedure for application of method of transformation during the creation of the financial reporting of banks of Ukraine approved by the resolution of Board of the National Bank of Ukraine of December 10, 2012 No. 510".

4. To accounting department (Lukasiewicz B. V.) after state registration in the Ministry of Justice of Ukraine to bring contents of this resolution to permission of territorial administrations of the National Bank of Ukraine and banks of Ukraine for management and use in work.

5. To impose control over the implementation of this resolution on the vice-chairman of the National Bank of Ukraine Rychakivskaya V. I. and vice-chairman of the National Bank of Ukraine Sorkin I. V.

6. The resolution becomes effective from the date of its official publication.

Chairman

S. G. Arbuzov

Approved by the Resolution of Board of the National Bank of Ukraine of December 10, 2012, No. 510

Procedure for application of method of transformation during creation of the financial reporting of banks of Ukraine

1. This Procedure is developed according to the Laws of Ukraine "About banks and banking activity", "About financial accounting and the financial reporting in Ukraine", "About the National Bank of Ukraine" for the purpose of ensuring creation by banks of the financial reporting according to international accounting standards (further - IFRS).

2 Banks reflect in financial accounting of transaction according to requirements of IFRS. Transformational adjustments for creation of the financial reporting according to IFRS perform banks in case of identification of discrepancies between requirements of IFRS and the legislation of Ukraine.

3. Process of transformation provides implementation of package of measures, namely:

the comparative analysis of accounting policy on compliance to requirements of IFRS and identification of the sphere of adjustments;

operation analysis on IFRS compliance;

information collection for carrying out transformation;

preparation of transformational tables;

adjustment and reclassification of Articles (preparation of transformational records with use of balance sheet accounts).

4. The method of transformation provides creation of the financial reporting according to IFRS by grouping of accounting information and adjustment of information on data of the statistical reporting which is prepared according to regulatory legal acts of the National Bank of Ukraine.

The bank does not display the specified adjustments in bookkeeping registers.

5. Banks shall use for implementation of adjustment information on the basis of data of synthetic and analytical financial accounting which contain in the files 02 "Data on Turnovers and Account Balances", 25 "Data on turnovers on turning and account balances", A4 "Data on the adjusting turnovers by results of accounting year and account balances (taking into account account balances of classes 6 and 7)", 81 "Data on the adjusting turnovers by results of accounting year and account balances (without account balances of classes 6 and 7)", for filling of individual clauses of the financial reporting.

6. Banks shall display in transformational tables of the amount of adjustments between accounting data and requirements of IFRS, specified in Item 2 of this Procedure, for given in the financial reporting every period for the purpose of determination of assets, obligations, the capital, the income and expenses in the amounts which answer IFRS.

7. Banks shall constitute and submit the financial reporting to the National Bank of Ukraine together with transformational tables.

Transformational tables to the financial reporting contain list of Articles, correspondence of accounts and the amount which were modified, according to appendix.

Transformational tables shall be signed by the head and the chief accountant.

The chief accountant - the director of the department of financial accounting

B. V. Lukasiewicz

Appendix

to the Procedure for application of method of transformation during creation of the financial reporting of banks of Ukraine

See Appendix

 

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