THE RESOLUTION OF THE STATE COMMITTEE OF THE REPUBLIC OF UZBEKISTAN ON ASSISTANCE TO THE PRIVATIZED COMPANIES AND DEVELOPMENT OF THE COMPETITION

of May 15, 2017 No. 01/27-26/04

About approval of the National standard of assessment of property of the Republic of Uzbekistan (NSOI No. 14) "Value assessment of inventory stocks"

According to the Law of the Republic of Uzbekistan "About estimative activities", the resolution of the President of the Republic of Uzbekistan of April 24, 2008 "About further enhancement of activities of the estimative organizations and increase in their responsibility for quality of the rendered services" and the Presidential decree of the Republic of Uzbekistan of April 18, 2017 No. UP-5016 "About Formation of the State Committee of the Republic of Uzbekistan on Assistance to the Privatized Companies and Development of the Competition" the State committee of the Republic of Uzbekistan on assistance to the privatized companies and development of the competition decides No. PP-843:

1. Approve the National standard of assessment of property of the Republic of Uzbekistan (NSOI No. 14) "Value assessment of inventory stocks" according to appendix.

2. This resolution becomes effective from the date of its official publication.

Appendix

to the Resolution of the State committee of the Republic of Uzbekistan on assistance to the privatized companies and development of the competition of May 15, 2017 No. 01/27-26/04

National standard of assessment of property of the Republic of Uzbekistan (NSOI No. 14) "Value assessment of inventory stocks"

This National standard of assessment of property of the Republic of Uzbekistan (NSOI No. 14) "Value assessment of inventory stocks" (further - NSOI No. 14) according to the Law of the Republic of Uzbekistan "About estimative activities", the resolution of the President of the Republic of Uzbekistan of April 24, 2008 No. PP-843 "About further enhancement of activities of the estimative organizations and increase in their responsibility for quality of the rendered services" and the Presidential decree of the Republic of Uzbekistan of April 18, 2017 No. UP-5016 "About Formation of the State Committee of the Republic of Uzbekistan on Assistance to the Privatized Companies and Development of the Competition" determines normative regulation of estimative activities in the field of value assessment of inventory stocks in the Republic of Uzbekistan.

Chapter 1. General provisions

1. Regulations and rules NSOI No. 14 are directed to the purposes of value assessment of inventory stocks of legal entities as ensuring obligation fulfillment according to the agreement and/or the legislation taking into account possible alienation by realization or the different way provided by the agreement and/or the legislation.

2. The main objectives of NSOI No. 14 are:

ensuring coordination of actions of appraisers and owners of property when using concepts and rules of value assessment of inventory stocks, and also evaluating their cost;

determination of the procedures designed to help objectivity and improvement of quality of assessment;

establishment of single requirements to primary information, contents of the valuation report and to the statement of material excluding ambiguous interpretation of valuation reports.

3. In NSOI No. 14 the following basic concepts are used:

analog - the object similar to assessment object in structure, technical origin, and also purpose of use close on set of essential signs;

direct costs - the production costs which are directly connected with production process of separate types of inventory stocks (rendering services, performance of works) and their units, directly attributable to cost;

indirect costs - the production costs connected with production process of several types of inventory stocks (rendering services, performance of works) which cannot be directly carried on unit cost of certain inventory stocks owing to what they are distributed between cost objects and cost of their unit in the settlement way;

current value - the cost of inventory stocks at the operating market prices of certain date or the amount sufficient for acquisition of asset or obligation fulfillment during transaction between informed, wishing to make such transaction, independent from each other the parties;

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