Essence of the Act:
The order introduces amendments to regulatory legal acts on accounting in the public sector, introducing a new sub-account for recording contingent liabilities for foreign loans. This allows for separate accounting of obligations under credit agreements with the EU, foreign states, and international financial organizations.
Structure and Main Provisions:
1. Supplementing the Chart of Accounts with a new sub-account 9539 “Contingent Liabilities for Foreign Loans (Borrowings)”.
2. Making corresponding changes to the Procedure for Applying the Chart of Accounts regarding the use of the new sub-account.
3. Determining the accounting procedure for the new sub-account for contingent external liabilities under various types of credit agreements.
Key Provisions for Use:
– The new sub-account 9539 is designed to account for contingent liabilities under credit agreements with international partners
– The sub-account records obligations under credit agreements, purchase agreements for credit obligation instruments, and other relevant documents
– Accounting is conducted for agreements with the EU, foreign states, financial institutions, and international financial organizations
– Changes take effect from the day of official publication of the order
