The Order In Which Financial Statements Recording The State, Local, Foreign, European Community, Other International Organizations And Institutions, Financial Aid (Financial Assistance), Gifts And Donations, Whether In Cash Or In Kind

Original Language Title: Kārtība, kādā finanšu pārskatos atspoguļojams valsts, pašvaldību, ārvalstu, Eiropas Kopienas, citu starptautisko organizāciju un institūciju finansiālais atbalsts (finanšu palīdzība), ziedojumi un dāvinājumi naudā vai natūrā

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Read the untranslated law here: https://www.vestnesis.lv/ta/id/90166

Cabinet of Ministers Regulations No. 537, Riga, 15 June 2004 (pr. No 37 17) order in which financial statements recording the State, local, foreign, European Community, other international organizations and institutions, financial aid (financial assistance), gifts and donations, whether in cash or in kind made in accordance with the law "on the annual accounts of undertakings ' in article 4 second subparagraph 1. determines the order in which the company (law" on corporate annual reports ' entity) financial statements recording from the State, municipalities, foreign countries, the European Community, other international organizations and institutions receive financial assistance and other forms of financial support received as well as natural and legal persons received donations and gifts in cash or in kind. 2. the provisions do not apply to State or local government investments in the share capital of the company (even if they are made in connection with the State and local government investment projects, development of infrastructure). 3. Financial statements reflect any State, local, foreign, European Community, other international organizations and institutions to provide financial resources to the company, in the form of the provision of direct economic benefits for this particular company that noticed this in the past or in the future will respect certain conditions relating to its business operations, or because this company meets certain criteria. 4. the provisions shall not apply, if: 4.1. State, local, foreign, European Community, other international organizations and institutions to provide economic benefits (economic benefits) to the company covered only indirectly (for example, State and local government investment in infrastructure in the region does not constitute the provision of financial support to a particular enterprise, if the infrastructure is not a public use, and the specific company assets, and investment in infrastructure in the region is not done in the interest of this particular company);
4.2. the economic benefits received in connection with a particular company's normal business transactions and pursuant to commercial principles (for example, sale of goods, provision of services or carrying out the works, the State or the municipality, pursuant to the law "on procurement for State or local government needs" requirements, it is not considered financial support company);
4.3. economic benefits received the company's accounting may not reliably (e.g. free of charge receive State or local authority consultations in the framework of the economic activity of an enterprise). 5. From the State or local government direct payment of money received in the form of financial assistance — grants expenditure to cover the (loss) or grant a certain State or local enforcement function, and financial support in the form of a tax (the State social security payment) a debt or other debts to the State or local government budget partial or complete write-offs, included in the revenue in the reference year, which received financial aid or financial support. 6. From State, local, foreign, European Community, other international organizations and institutions receive financial assistance in the form of direct cash payments, the balance in the item "deferred income" respectively, long or short term, the vendor if under at least one of these financial assistance's specified conditions: 6.1. money for long-term investment to purchase the item, or construction;
6.2. the money will be spent until the next reporting year (so for certain next year to finance current expenditure or the enforcement);
6.3. If the condition will not be met, the money in the coming years will have to be repaid. 7. The balance sheet under "deferred income" indicates also: 7.1 financial support in the form of State, local, foreign, European Community, other international organizations and institutions in the financial aid funds created long-term investments with limited use of the object of the transfer period in the company's property without compensation or that of selling the company at a price lower than the market value of this object, — according to the value that is specified in the documents relating to the granting of financial aid, or the transfer of or, if the undertaking chosen financial aid received in the form of an item of property or financial investment object to measure fair value, corresponding to the fair value of the financial support;
7.2. in accordance with the approved procedures for the financing of the European Union's structural funds the allocated financial assistance, in the form of reimbursement of expenditure for long-term investment, the creation of the object of purchase or construction project completion or gradual long-term projects in the course of implementation, based on the structural funds according to the request of refund amounts received, except for this provision, the case referred to in paragraph 11. 8. the company may choose to evaluate the financial aid received in the form of assets or long-term financial investment object according to the true value when: 8.1. this object value that is specified in the documents relating to the granting of a financial contribution or transfer, below its true value;
8.2. the value of this object is not specified in those documents, but the true value is unknown (it is possible to reliably determine). 9. balance sheet under "deferred income" received by specified financial assistance or other forms of financial support received included the amount of the relevant financial year revenue: 9.1. If the financial assistance in the form of cash received, acquired or built up long-term investment or financial aid received in the form of long-term investment object usage period is limited: If the received 9.1.1 and financial assistance or other forms of financial support received, fully covered by the value of this object — According to the current year's depreciation and write-downs of the value of the amounts;
9.1.2. If you receive financial assistance or other forms of financial aid received covers only part of the value of this object: this object by the current year's depreciation and write-downs of the value of the sum of the parts that relate to the financial assistance received or financial support;
9.2. in accordance with the use of this amount during the year to cover or enforcement function in cases where the money for these purposes was received in the previous reporting year;
9.3. when the conditions are met, which in the case of the money to be repaid, or a condition. 10. If the financial assistance received in the form of cash purchased or otherwise obtained financial support for land or other long-term investment objects with unlimited usage period, such financial support is included in its report a year in revenue, the long-term contribution to the object sold, except where the said term investment object may be directly associated with any of the other long-term investment object, which period is limited. In this case, the financial support may include revenue gradually this other object specified usage period. 11. If this rule 7.2. reimbursement referred to in the company receive: the next accounting year 11.1 the long-term depreciation of the investment object or later, the company received an amount initially indicate the balance under "deferred income" and then systematically included in revenue this object remaining useful life of the period.
11.2. the long-term depreciation of investment object is already completed, the amount received is included in its revenue for the year when reimbursement was received. 12. revenue for the year amount indicate the income statement under "other operating income of the company or other item of revenue, if it describes the nature of the aid received. 13. if received in the years following the financial assistance or other forms of financial support received for inclusion in the balance sheet or profit and loss statement that does not comply with any of the financial aid of the specified conditions and for the financial support to be reimbursed in full or in part, if the received 13.1: financial aid amount fully included in the reporting year in revenue, the financial aid to be repaid the amount written off its cost for the year When you become certain that this amount will be refunded;

13.2. If the received amount of the aid contained in the balance sheet under "deferred income" and not yet fully included in the reporting year concerned revenue, grants financial aid for the most amortization first use the balance sheet item "deferred income" for the year, including only the cost of the balance of this item does not cover the amount of financial aid refund of surplus. 14. the procedures laid down in the provisions apply accordingly donations and donations in cash or in kind, which the company received from natural and legal persons. 15. If the donations received in donation or things whose value is not specified for a donation or a gift contract or any other document certifying the donation or gift, and the true value is unknown (it is not possible to reliably detect), may be listed in kind (free evaluation in monetary terms), if the donation or gift item is: 15.1 the thing that matters is symbolic or value small and received no commercial purpose;
15.2. use real property, if the costs of the evaluation are large in comparison with those things alleged market price;
15.3. the object for which the law "On the protection of cultural monuments" could be a historical, scientific, artistic or other cultural value;
15.4. wild animals animal protection law, which received the collection of wild animals for replenishment. 16. If the subject of the gift is burdened with debts (for example, if the gift is all property of the donor and the donor has not paid debts which he had at the time of the donation), then in the reference period, when becoming aware of such a burden of debt on the balance sheet include the amount of savings or debt creditors item, but the income statement indicates the relevant costs. 17. in the annex to the annual report provides information on: 17.1. the reporting year received financial assistance, the amounts and the conditions of use;
17.2. in previous years, received financial assistance, for which has not yet fulfilled all these financial conditions set by donors;
17.3. the refunds in the amount of financial support received, if the reporting year that is not fulfilled any of the financial support of specific conditions;
17.4. the reporting year received other types of financial support (also for State or municipal guarantee credit, credit interest rate subsidies, national or local investment in fixed capital, tax payment extension);
17.5. the received donations and gifts, if essential to the company's assets, liabilities, financial position and profit or loss. Prime Minister i. Emsis Finance Minister o. Spurdziņš