Document from CIS Legislation database © 2003-2022 SojuzPravoInform LLC

Registered by

Ministry of Justice

Republic of Uzbekistan

On March 20, 2003 No. 1226

ORDER OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF UZBEKISTAN

of March 12, 2003 No. 45

About approval of the National accounting standard of the Republic of Uzbekistan (NSBU No. 15) "Balance sheet"

(as amended on 14-06-2017)

According to the Law of the Republic of Uzbekistan "About financial accounting" and the Regulations on the Ministry of Finance of the Republic of Uzbekistan approved by the resolution of the President of the Republic of Uzbekistan of March 18, 2017 No. PP-2847, I order:

1. Approve the enclosed National accounting standard of the Republic of Uzbekistan (NSBU No. 15) "Balance sheet";

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

Minister

M. Nurmuratov

 

Approved by the Order of the Ministry of Finance of the Republic of Uzbekistan of March 12, 2003, No. 45

National accounting standard of the Republic of Uzbekistan (NSBU No. 15) "Balance sheet"

This National Accounting Standard (NAS) is developed on the basis of the Law of the Republic of Uzbekistan "About financial accounting" and is element of normative regulation of financial accounting in the Republic of Uzbekistan.

§ 1. General provisions

1. The purpose of this standard is determination of essence and representation of assets, equity and obligations in the balance sheet. The standard contains requirements imposed to information which is subject to disclosure in case of submission of the balance sheet as component of the financial reporting. These requirements can be added according to the requirements of disclosure existing in other standards and covering special problems of financial accounting.

2. The balance sheet is one of components of the financial reporting, accumulates and opens information on property and financial position of business entity.

3. Business entities (except for state-financed organizations, banks and other credit institutions) shall fulfill requirements of this standard in the course of preparation and disclosure of the balance sheet.

§ 2. Basic rules of disclosure of information

4. In the balance sheet all information shall be opened authentically and clear to users. In need of Article, included in the balance sheet, shall be added with information explaining them.

5. In address part of the balance sheet the reporting date, the name, industry, pattern of ownership, form of business and complete legal address of business entity, the name of body under the authority of which the business entity, the unit of measure used by preparation of the balance sheet consists shall be specified.

6. The balance sheet shall open the relevant data for the beginning and by the end of the reporting period.

7. There shall not be balancing of Articles of the current assets and the current obligations. Individual clauses of the balance sheet shall not join or be balanced with other Articles.

8. Non-current and current assets, equity, long-term and current obligations in the balance sheet and their disclosure represent information which can help users of the financial reporting with financial analysis of business entity.

9. In the balance sheet total amounts of non-current and current assets, equity, long-term and current obligations shall be disclosed.

10. Concepts of non-current and current asset, equity, the long-term and current obligation are given in the Conceptual basis for the preparation and accounts presentation approved by the Ministry of Finance of the Republic of Uzbekistan on July 26, 1998 No. 17-07/86 (reg. No. 475 of 14.08.98, "The bulletin of regulations of the ministries, state committees and departments of the Republic of Uzbekistan" of 1999 No. 5) and the National accounting standard of the Republic of Uzbekistan (NSBU No. 1) "Accounting policy and the financial reporting" approved by the Ministry of Finance of the Republic of Uzbekistan on July 26, 1998 No. 17-07/85 (reg. No. 474 of 14.08.98, "The bulletin of regulations of the ministries, state committees and departments of the Republic of Uzbekistan" 1999 No. 5).

§ 3. Non-current assets

11. In the Section "Non-current assets" the amounts of long-term investments, the equipment to installation, capital investments, long-term accounts receivable and long-term delayed expenses shall be opened fixed asset cost and intangible assets.

12. Fixed assets and intangible assets, according to the National accounting standard of the Republic of Uzbekistan (NSBU No. 5) "Fixed assets" (reg. No. 1299 of January 20, 2004) and to the National accounting standard of the Republic of Uzbekistan (NSBU No. 7) "Intangible assets" (reg. No. 1485 of June 27, 2005), shall be opened on the original (recovery) cost, the depreciation amount (depreciation), residual cost.

13. Long-term investments, according to the National accounting standard of the Republic of Uzbekistan (to NSBU No. 12) "Accounting of financial investments" approved by the Ministry of Finance of the Republic of Uzbekistan on December 25, 1998 No. 65 (reg. No. 596 of 16.01.99, "The bulletin of regulations of the ministries, state committees and departments of the Republic of Uzbekistan 1999 No. 6), shall be opened at the cost of securities, the amount of investments into affiliated economic societies, investments into dependent economic societies, investments into the companies with the foreign capital and other long-term investments.

§ 5. Current assets

14. In the Section "Current Assets" the amounts of inventory stocks, deferred expenses, the current part of delayed expenses, accounts receivable, money, short-term financial investments and other current assets shall be opened.

15. In inventory stocks, according to the National accounting standard of the Republic of Uzbekistan (NSBU No. 4) "Inventory stocks", (reg. No. 1595 of July 17, 2006), the following which shall be opened separately join:

a) production supplies which include raw material stocks, purchased semifinished products and components, fuel, container, spare parts, stock and economic accessories, other materials, held for use in production process or in case of performance of works and rendering services, animal on cultivation and sagination, expenses on procurement and acquisition of materials, variations in material costs;

b) work in progress which includes incomplete main production, self-produced semifinished products, incomplete auxiliary and other productions, production scrap;

c) finished goods;

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