of March 1, 2002 No. 28
About approval and enforcement of Methodical instructions about features of financial accounting in entrepreneurial cooperatives
In pursuance of Art. 9 of the Law on the financial accounting N426-XIII of April 4, 1995 and Art. 95 of the Law on entrepreneurial cooperatives N73-XV of April 12, 2001
1. Approve Methodical instructions about features of financial accounting in entrepreneurial cooperatives.
2. Enact Methodical instructions about features of financial accounting in entrepreneurial cooperatives from the date of the publication in Monitorul Oficial al Republicii Moldova.
Minister of Finance
1. Methodical instructions about features of financial accounting in entrepreneurial cooperatives (further - methodical instructions) are developed on the basis of the Law on entrepreneurial cooperatives N73-XV of April 12, 2001 (further - the Law N73-XV), the Law on the financial accounting N426-XIII of April 4, 1995 (further - the Law N426-XIII), National accounting standards (further - NSBU) and other regulations.
2. The purpose of these methodical instructions consists in statement of features of conducting financial accounting, creation of accounting registers and financial statements in entrepreneurial cooperatives (further - cooperatives).
3. These methodical instructions extend to all cooperatives registered in the Republic of Moldova according to the Law N73-XV and also to their branches, representations and other structural divisions located both in the territory of the republic and beyond its limits.
4. In these methodical instructions terms with the following content are used:
Internal operational transactions - deliveries (acquisition) of material values (services) between cooperative and its members.
External operational transactions - deliveries (acquisition) of material values (services) between cooperative and third parties (not members of cooperative).
5. Cooperatives keep financial accounting according to the methodological principles and rules established by the Law N426-XIII, Conceptual bases of preparation and submission of financial statements, National accounting standards, the Chart of accounts of financial accounting of financial and economic activities of the companies, these methodical instructions and accounting policy of cooperative.
6. Cooperatives can keep financial accounting on the complete or simplified system according to provisions of the Law N426-XIII.
7. Organizational expenses of cooperative include the expenses connected with creation of cooperative (preparation of documents for registration; state fees; fee of consultants; payment for opening of the account of cooperative; fee of the notary; the payment of promotion activities and other expenses performed before state registration of cooperative). Organizational expenses are recognized accounting as intangible assets according to provisions NSBU 13 "Accounting of intangible assets".
8. Organizational expenses will be amortized and included total and administrative expenses according to the term established in accounting policy of cooperative.
Accounting of the authorized capital
9. The original authorized capital consists completely of simple initial shares, and its size shall be equal to the cost of the shares including brought and not brought parts by the founders registered in the Register of members of cooperative.
10. The money deposited in payment for shares before date of state registration of cooperative accumulates on its provisional bank account.
11. Fees in cash in payment for shares, are reflected in accounting after state registration of cooperative according to the cash receipt order, non-cash money contributions - based on the payment order.
12. The method of assessment of the non-cash fees brought in the account of simple shares is determined by the charter of cooperative, and the cost of the non-cash contributions made on account of the initial contributions of founders affirms the constituent assembly of cooperative.
13. The non-cash fees transferred to cooperative on the property rights or on rights to use are estimated according to their contractual (useful) cost, and in the latter case, and depending on the term of the agreement of use of asset and the size of the rent. Transfer of non-cash contribution is confirmed by the act of reception-transmission of the corresponding asset.
14. If the estimated value of non-cash deposits exceeds the size of share of the member of cooperative, then the difference is reflected in financial accounting according to the decision of authorized body (the constituent assembly, general meeting of members of cooperative or council of the cooperative) accepted together with the holder of share. In particular, the specified difference can be reflected as debt of cooperative to the member which shall be extinguished by cooperative money or is brought as contribution to the account of additional share; the loan granted cooperative; fee in the added capital; the donated property.
15. Analytics of the authorized capital are kept by types of shares on the Personal account of the member of cooperative (further - personal account).
16. Synthetic account of the authorized capital of cooperative is kept on the account "Authorized capital" within which the following sub-accounts (the account II of procedure) can be open:
a) "The original registered capital" - for accounting of availability and movement of simple initial shares of founders in the amount registered in constituent documents of cooperative;
b) "The other capital created under the agreement" - for accounting of availability and movement of simple and preferential shares after registration of cooperative.
17. The cooperative can open in development of sub-account "The other capital created under the agreement" accounts III of procedure for separate accounting of initial, additional, bonus and preferential shares.
18. The original authorized capital is reflected in financial accounting after state registration of cooperative in the amount of initial shares of the founders provided in constituent documents. Money contributions of founders in payment for them initial shares are reflected as cash receipt according to the statement from the provisional bank account of cooperative, and non-cash fees and not made money deposits for date of state registration of cooperative - as the unpaid capital.
20. Percent on fees unpaid at the scheduled time in the authorized capital are reflected as increase in short-term receivables on imputed incomes and the income from investing activities.
21. In case of reflection of forming and change of the authorized capital of cooperative the account of Izjyaty capital according to Article 37 provisions is not used (3) the Law N73-XV.
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