Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

Registered by

Ministry of Justice

Russian Federation

On July 19, 2001 N2806

ORDER OF THE MINISTRY OF FINANCE OF THE RUSSIAN FEDERATION

of June 9, 2001 No. 44n

About approval of the Accounting regulation "Accounting of Inventory Stocks" PBU 5/01

(as amended on 16-05-2016)

In pursuance of the Program of reforming of financial accounting according to international accounting standards approved by the order of the Government of the Russian Federation of March 6, 1998 N283 (The Russian Federation Code, 1998, N 11, to the Art. 1290), I order:

1. Approve the enclosed Accounting regulation "Accounting of Inventory Stocks" PBU 5/01.

2. Declare invalid:

the order of the Ministry of Finance of the Russian Federation of June 15, 1998 N25n "About Approval of the Accounting Regulation of Inventory Stocks" PBU 5/98" (the order is registered in the Ministry of Justice of the Russian Federation on July 23, 1998, registration number 1570);

Item 1 of the List of the changes and additions made to regulatory legal acts of the Ministry of Finance of the Russian Federation approved by the order of the Ministry of Finance of the Russian Federation of December 30, 1999 N107n (the order is registered in the Ministry of Justice of the Russian Federation on January 28, 2000, registration number 2064);

Item 2 of the Changes in regulatory legal acts on financial accounting attached to the order of the Ministry of Finance of the Russian Federation of March 24, 2000 by N31n "About Modification of Regulatory Legal Acts on Financial Accounting" (the order is registered in the Ministry of Justice of the Russian Federation on April 26, 2000, registration number 2209).

3. Enact this order, starting with accounting records of 2002.

Minister

A. Kudrin

Approved by the Order of the Ministry of Finance of the Russian Federation of June 9, 2001 No. 44n

Accounting regulation "Accounting of Inventory Stocks" PBU 5/01

I. General provisions

1. This Provision establishes rules of forming in financial accounting of information on inventory stocks of the organization. The organization is understood further as the legal entity by the legislation of the Russian Federation (except for credit institutions and the public (municipal) institutions).

2. For the purposes of this provision to financial accounting as inventory stocks assets are accepted:

used as raw materials, materials, etc. in case of production, held for sale (performance of works, rendering services);

held for sale;

the organizations used for managerial needs.

The finished goods are part of inventory stocks, held for sale (the resulting effect of production cycle, assets finished with processing (picking) which technical and quality characteristics conform to terms of the contract or requirements of other documents, in the cases established by the legislation).

Goods are part of the inventory stocks acquired or received from other legal entities or physical persons, and held for sale.

3. Unit of financial accounting of inventory stocks is chosen the organization independently so that to provide forming of complete and reliable information about these inventories, and also proper control of their availability and movement. Depending on nature of inventory stocks, procedure for their acquisition and use nomenclature number, batch, uniform group, etc. can be unit of inventory stocks.

4. This Provision is not applied to the assets characterized as work in progress.

II. Assessment of inventory stocks

5. Inventory stocks are accepted to financial accounting on actual cost.

6. Actual cost of the inventory stocks acquired for a fee the amount of actual costs of the organization on acquisition, except for the value added tax and other recoverable taxes is recognized (except cases, stipulated by the legislation the Russian Federation).

On acquisition of inventory stocks treat actual costs:

the amounts paid according to the agreement to the supplier (seller);

the amounts paid to the organizations for the information and consulting services connected with acquisition of inventory stocks;

customs duties;

the non-refundable taxes paid in connection with acquisition of unit of inventory stocks;

the remunerations paid to the intermediary organization through which inventory stocks are acquired;

costs on procurement and delivery of inventory stocks to the place of their use, including expenses on insurance. These costs include, in particular, costs on procurement and delivery of inventory stocks;

costs on content of procurement and warehouse division of the organization, costs for services of transport in delivery of inventory stocks to the place of their use if they are not included in the price of inventory stocks established by the agreement; the added percent on the loans granted by suppliers (commercial credit); the percent on borrowed funds added before acceptance to financial accounting of inventory stocks if they are attracted to acquisition of these inventories;

costs on bringing inventory stocks to condition in which they are suitable for use in the planned purposes. These costs include the costs of the organization for side job, sorting, packing and improvement of technical characteristics of the received inventories which are not connected with production, performance of works and rendering services;

other costs which are directly connected with acquisition of inventory stocks.

General running and other similar costs do not join in actual costs on acquisition of inventory stocks, except cases when they are directly connected with acquisition of inventory stocks.

7. Actual cost of inventory stocks in case of their production by the organization is determined proceeding from the actual costs connected with production of these inventories. Accounting and forming of production costs of inventory stocks is performed by the organization according to the procedure, established for determination of cost of the corresponding types of products.

8. Actual cost of the inventory stocks brought on account of contribution to the authorized (share) capital of the organization is determined proceeding from their money value approved by founders (participants) of the organization if other is not stipulated by the legislation the Russian Federation.

9. Actual cost of the inventory stocks received by the organization for the gift agreement or it is non-paid, and also remaining from fixed asset retirement and other property, it is determined proceeding from their current market value on acceptance date to financial accounting.

For the purposes of this provision the current market value is understood as cash amount which can be received as a result of sale of the specified assets.

10. Actual cost of the inventory stocks received under the agreements providing obligation fulfillment (payment) by non-cash means the asset cost, transferred or subject to transfer by the organization is recognized. The asset cost, transferred or subject to transfer by the organization, is established proceeding from the price by which in comparable circumstances usually the organization determines the cost of similar assets.

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