ORDER OF THE MINISTRY OF FINANCE OF UKRAINE

of June 27, 2013 No. 627

About approval of Changes in some regulatory legal acts of the Ministry of Finance of Ukraine on financial accounting

According to article 6 of the Law of Ukraine "About financial accounting and the financial reporting in Ukraine" I ORDER:

1. Approve Changes in some regulatory legal acts of the Ministry of Finance of Ukraine on financial accounting which are attached.

2. (Chmeruk M. O.) in accordance with the established procedure to provide to department of tax, customs policy and methodology of financial accounting:

submission of this order on state registration in the Ministry of Justice of Ukraine;

promulgation of this order.

3. This order becomes effective from the date of its official publication.

4. To impose control over the implementation of this order on the First Deputy Minister Myarkovsky A. I.

Approved by the Order of the Ministry of Finance of Ukraine of June 27, 2013 No. 627

Changes in some regulatory legal acts of the Ministry of Finance of Ukraine on financial accounting

1. In the Provision (standard) of financial accounting 19 of "Merging of the companies" approved by the order of the Ministry of Finance of Ukraine of July 07, 1999 No. 163, registered in the Ministry of Justice of Ukraine on July 23, 1999 for No. 499/3792:

1) in item 4:

in paragraph six of the word and figure", established by the Provision (standard) of the financial accounting 2 "Balance" to exclude;

the twelfth to state the paragraph in such edition:

"Fair value - the amount on which it is possible to sell asset or to pay the obligation in case of usual conditions for certain date.";

the thirteenth to exclude the paragraph;

2) Item 5 in paragraph one the second offer to exclude;

Item 9 to state 3) in such edition:

"9. If merging of the companies and/or types of their economic activity is performed step by step (for example, by consecutive share acquisition), the buyer estimates financial investments in object of acquisition (earlier the withheld share in equity) at their fair value for date of acquisition and displays the change in value amount respectively as a part of the income or expenses.";

Shall be replaced with words 4) in Item 14 of the word "belongs to minority" "does not belong to parent entity".

2. Add Item 12 of the Provision (standard) of the financial accounting 10 "Receivables" approved by the order of the Ministry of Finance of Ukraine of October 08, 1999 No. 237, registered in the Ministry of Justice of Ukraine on October 25, 1999 for No. 725/4018 (with changes), the new paragraph of such content:

"Receivables by calculations with the budget include debt of financial and tax authorities, and also advance payments, overpayment on taxes and fees, other payments in the budget and are displayed in balance with allocation of debt on the income tax.".

3. In the Provision (standard) of the financial accounting 8 "Intangible assets" approved by the order of the Ministry of Finance of Ukraine of October 18, 1999 No. 242, registered in the Ministry of Justice of Ukraine on November 02, 1999 for No. 750/4043 (with changes):

Shall be replaced with words 1) in Item 22 of the word of "supplementary capital" "the capital in revaluations and in other comprehensive income";

Shall be replaced with words 2) in Item 23 of the word of "other supplementary capital" "the capital in revaluations and it is displayed in other comprehensive income";

Shall be replaced with words 3) in Item 24 of the word of "supplementary capital" "the capital in revaluations".

4. In the Provision (standard) of the financial accounting 15 "Income" approved by the order of the Ministry of Finance of Ukraine of November 29, 1999 No. 290, registered in the Ministry of Justice of Ukraine on December 14, 1999 for No. 860/4153 (with changes):

Item 7 to state 1) in such edition:

"7. The acknowledged income is classified in financial accounting by such groups:

income (revenue) from sales of products (goods, works, services);

net income from sales of products (goods, works, services);

other operating incomes;

financial incomes;

other income.

The income (revenue) from sales of products (goods, works, services) total income (revenue) from sales of products, goods, works or services without subtraction of the provided discounts, return of earlier sold goods and indirect taxes and fees (the value added tax, the excise duty and so forth).

The net income from sales of products (goods, works, services) is determined by subtraction from the income from sales of products, goods, works, services of the provided discounts, the cost of the returned earlier sold goods, the income which under agreements belong to consignors (to principals and so forth), and taxes and fees.

Other operating incomes the amounts of other income from operating activiies of the company, except net income from sales of products (goods, works, services) are included, in particular: income from operating lease of assets; income from operational exchange differences; compensation of earlier written off assets; the income from the royalty, percent received on remaining balance of means on current accounts in banks, the income from realization of current assets (except financial investments), the non-current assets containing for sale and group of disposal and so forth.

Financial incomes dividends, percent and other income gained from financial investments are included (except the income which is considered by method of equity participation).

Other income, in particular, are included the income from realization of financial investments; the income from not operational exchange differences and other income which arise in the course of economic activity, but are not connected with operating activiies of the company.";

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