Monitoring of the Federal Legislation dated 9.01.2003

Order of the Ministry of Finance of the Russian Federation No. 126n of December 10, 2002 on the Endorsement of Accounting Regulation PBU 19/02 "Registration of Financial Investments"

According to PBU 19/02, financial investments of the organisation include: state and municipal securities, securities of other organisations, including debt securities with fixed date and cost of redemption (bonds, promissory notes); investments in the registered (shared) capital of other organisations (including the branches and dependent economic objects); loans granted to other organisations, deposit accounts in credit organisations, receivables purchased on the basis of claims cession and other.
Financial investments for the purposes of subsequent assessment are subdivided into two groups: financial investments permitting to determine the current market value and financial investments not permitting to determine their current market value. The Order specifies the procedure of subsequent assessment of financial investments, introduces the notion of depreciation of financial investments.
The Order is entered into force beginning with accounting reports for the year 2003.
Registered in the Ministry of Justice of the Russian Federation on December 27, 2002. Reg. No. 4085.

Order of the State Customs Committee of the Russian Federation and the Ministry of Finance of the Russian Federation No. 1205/112n of November 18, 2002 on the Endorsement of the Specimens of Excise Duty Stamps for Labelling of Foreign-Made Tobacco and Tobacco Items Imported to the Customs Territory of the Russian Federation

Endorses the specimens and description of excise duty stamps for labelling of foreign-made tobacco and tobacco items imported from the territories of foreign states. The issue of excise duty stamps according to the endorsed specimens will be carried out from February 1, 2003.
Registered in the Ministry of Justice of the Russian Federation on December 26, 2002. Reg. No. 4083.

Direction of the Central Bank of Russia No. 1216-U of December 5, 2002 on the Invalidation of Individual Acts of the Bank of Russia Pursuant to the Adoption of the Regulation on the Rules of Accounting Work in Credit Organisations Located on the Territory of the Russian Federation

Pursuant to the entering into force from January 1, 2003 of the new rules of accounting work in credit organisations, invalidates the Rules No. 61 of June 18, 1997 with amendments.
Also invalidates the Direction of the Central Bank of Russia No. 821-U of July 12, 2000 pertaining to the procedure of registration in accounting work of individual operations with fixed assets and abandons the Direction of the Central Bank of Russia No. 149-T of July 2, 1998 on the amortisation taking into account the re-evaluation of the fixed assets as of January 1, 1997.
The Direction is entered into force from January 1, 2003.