of December 30, 2014 No. 188
About approval of Methodical instructions about features of financial accounting in non-profit organizations and amendments of the General plan of accounts of the financial accounting approved by the Order of the Minister of Finance No. 119 of 6.08.2013.
Based on part (2) Art. 11 of the Law on financial accounting No. 113-XVI of April 27, 2007 the ode (repeated publication: The official monitor of the Republic of Moldova, 2014, Art. No. 27-34, 61) and for the purpose of improvement of the normative provisions connected with financial accounting in non-profit organizations according to provisions of National accounting standards and also for the purpose of reduction in compliance with needs of non-profit organizations of the General plan of accounts of financial accounting of PRIKAZYVAYU:
1. Approve Methodical instructions about features of financial accounting in non-profit organizations according to appendix No. 1.
2. Approve amendments to the General plan of accounts of financial accounting approved by the Order of the Minister of Finance No. 119 of 6.08.2013. (The official monitor of the Republic of Moldova, 2013, Art. No. 233-237, 1534), according to appendix No. 2.
3. From the effective date this order to declare invalid the Order of the Minister of Finance No. 158 of December 6, 2010. "About approval of Methodical instructions about features of financial accounting in non-profit organizations" (The official monitor of the Republic of Moldova, 2010, Art. No. 254-256, 981).
Minister of Finance
Appendix No. 1
to the Order of the Ministry of Finance of the Republic of Moldova of December 30, 2014 No. 188
1. These methodical instructions are developed proceeding from need of regulation of specifics of financial accounting for non-profit organizations.
2. The purpose of methodical instructions consists in the description of features of financial accounting and financial statements in non-profit organizations.
3. These methodical instructions extend to all non-profit organizations registered according to the legislation of the Republic of Moldova and also to the branches, representations and other structural divisions which are both in the territory of the Republic of Moldova and beyond its limits.
4. These methodical instructions do not extend on:
1) organizations with financial autonomy;
2) public organizations.
5. In these methodical instructions the used concepts mean:
the transferred assets – the non-current or current assets received or which are in temporary use at non-profit organization for the purpose of the subsequent transfer to receivers in the course of the target actions;
authorized activities of non-profit organization – the any kind of activities which is not forbidden by the law including economic activity which belongs to realization of the authorized purposes and include:
1) activities for representation and promotion is more whole than the organization;
2) target actions;
3) actions of public advantage and for collection of funds;
4) the economic activity proceeding from the authorized purposes;
5) other types of activity which are not forbidden by the legislation;
method of charges – accounting basis according to which elements of financial accounting are recognized in process of their origin, irrespective of the moment of obtaining/payment of money or compensation other form;
expenses of non-profit organization – the expenses incurred in implementation process of authorized activities, including target actions and economic activity;
deposits of founders and members of non-profit organization – the admission and membership fees, other deposits, donations of founders and organization members;
funds of non-profit organization – set of own sources of financing of non-profit organization relating to the non-current assets (intangible assets and non-current tangible assets, etc.) received gratuitously or received/acquired at the expense of target means, inappropriate means, and also due to results from economic activity;
target means – the assets and services received or which are subject to obtaining in the form of grants, donations, assignments, financial or technical assistance, deposits of founders and members, other financings and receipts, own means and funds which use is caused by realization of target actions (acquisition/creation of certain assets, financing of specific programs / projects, etc.);
target action – action (acquisition/creation of certain assets, financing of specific programs / projects, etc.) of non-profit organization performed at the expense of target means;
inappropriate means – the assets and services received or which are subject to obtaining which use is not caused by realization of target actions;
non-profit organization – the legal entity pursuing other aim, than commercialization and which is registered according to the procedure, provided by the law;
the program/project – set of the actions approved with resources and terms of realization, directed to realization of some target actions, answering the authorized purpose and requirements of the financing persons, founders and members of non-profit organization;
reports of non-profit organization – the financial, statistical, tax and other report types characterizing activities of non-profit organization;
users of reports of non-profit organization are the founders, members and governing bodies of non-profit organization financing faces, donors, sponsors, bodies of the public power, financial institutions, suppliers and other creditors, receivers of the provided services, the public and other interested persons;
income of non-profit organization – income gained as a result of use of target means, inappropriate means and deposits of founders and members and also from economic activity.
Organization of financial accounting
6. The non-profit organization keeps financial accounting and constitutes financial statements according to the fundamental principles and rules established by the Law on financial accounting, national accounting standards, the general plan of accounts of financial accounting, these methodical instructions and other regulations.
7. The non-profit organization applies system of accounting by double record with submission of financial statements according to forms from appendices to these methodical instructions.
8. Responsibility for financial accounting and the financial reporting is born by the head (executive body) of non-profit organization.
9. The non-profit organization shall:
1) to consider financial accounting elements according to accrual method;
2) to develop and apply own accounting policies;
3) to develop the working chart of accounts;
4) to perform all stages of accounting cycle which include:
a) creation of source and summary documents;
b) assessment and recognition of elements of financial accounting;
c) reflection of information on accounts of financial accounting;
d) creation of accounting registers;
e) inventory count of elements of financial accounting;
f) creation of turnover balance or ledger and financial statements.
10. Accounting policies of non-profit organization shall contain at least the following elements:
1) types of authorized activities;
2) structure of sources of financing;
3) procedure for creation and use of source and summary documents and accounting registers;
4) accounting methods:
a) target and inappropriate means;
b) deposits of founders and members;
c) intangible assets and non-current tangible assets, other non-current assets, current assets which are acquired/created from various sources of financing including from economic activity;
d) the assets received in temporary use;
e) the transferred assets;
f) income and expenses;
5) the methods developed independently including accounting treatment:
a) the sources of financing intended for covering of administrative expenses, expenses on content of non-profit organization, expenses on the program/project and other expenses;
b) the sources of self-financing used for realization of target actions;
c) the salary, taxes and fees accrued from various sources of financing, etc.;
6) other methodological and organizational aspects of financial accounting.
Are applied to accounting policies:
1) the forms of source documents and accounting registers developed by non-profit organization independently;
2) list of the officials responsible for creation and signing of source documents and accounting registers;
3) working chart of accounts;
4) other necessary information which influences much financial accounting of the economic facts (for example, specific conditions of donors or provisions of the regulations regulating sphere of activity of non-profit organization on use of target means, consumption rates of fuel, regulation of operational run of autotires, etc.).
11. Accounting policies affirm for each accounting period the order (order) of the head of executive body of non-profit organization published based on the decision of its governing body. The newly created non-profit organization approves the accounting policies before submission of financial statements for the first accounting period, but no later than 90 days from the date of registration.
12. The working chart of accounts includes the synthetic accounts and sub-accounts necessary for accounting of elements of financial accounting and measure definition of financial statements.
13. The non-profit organization shall carry out joint inventory of assets and liabilities at least once a year during the activities, and also in case of reorganization or the termination of activities and in the cases provided by the Regulations on procedure for carrying out inventory count approved by the Ministry of Finance.
14. The non-profit organization shall keep on paper or electronically accounting documents which include: the source documents, accounting registers, financial statements and other documents relating to the organization and financial accounting.
Features of financial accounting
15. In non-profit organizations there is number of features of financial accounting which generally belong to:
1) to target means;
2) to inappropriate means;
3) to deposits of founders and members of non-profit organization;
4) to other income and expenses;
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