Regulations on accounting of reindeer funds and reindeer grazing the accounting.
Date FOR-1993-12-14-1435
Ministry of Agriculture and Food
Published Dept. In 1999 2091
Commencement 01.01.1994
Edited
Changes
FOR 1992-03-24
For
Norway
Legal
LOV-1978-06-09-49-§32, LOV-1978-06-09-49-§33, LOV-1978-06-09-49-§8, cf. LOV-2007-06-15 -40-§82, TO-2007-06-29-818
Promulgated
Short Title
Regulations on accounting for reindeer restricted funds.
Adopted by the Reindeer Husbandry Board 14 December 1993 pursuant to the Act of 9 June 1978 No.. 49 on reindeer § 32 and § 33, ref. § 8, fourth paragraph, and Ministry of Agriculture's administrative decisions of 17 February 1992.
§ 1. Regulations range Any reindeer grazing and herding fund established pursuant to the law on husbandry of 9 June 1978 No.. 49 is accounts pursuant to this regulation.
§ 2. accounting entity content The reporting shall keep accounts in accordance with generally accepted accounting principles and provisions of this regulation.
§ 3. What is to be entered in the accounts Accounting manuals must provide complete and specific information about the business started.
§ 4. Accounting material shall be kept diary of business cases. If desired, or auditor deems it necessary, an additionally lead separate books of accounts with creditors and debtors, and summaries of statements (kontobok, ledger and årsregnskapsbok).
Instead of accounting books may be used at other systems, for example. cards, magazines, data, etc., provided this is approved by the auditor.
§ 5. Accounting Accounting books shall be kept in a proper and orderly manner. The sides shall be exactly numbered before the books commissioned. It is recorded in the books may not be removed or rendered illegible when rubbed or similar.
All expenses / income shall be recorded and confirmed by documents. The vouchers must be numbered, and the diary should be made to this number.
By year end should be as soon as possible be made accurate and complete closure of accounts and compiled lists of assets and liabilities.
Accounting Books and its annexes shall be stored in an orderly in this country for at least 10 years after the end of that fiscal year. The same applies to received letters and private documents validated the accounts.
§ 6. Financial year The financial year shall follow the calendar year.
§ 7. Opening Status When an accounting activities subject established shall be prepared a statement of assets and liabilities.
§ 8. Financial Statements content for each accounting shall be prepared financial statements consisting of income, status and any disclosures under § 12.
income statement shall include income and expenses and set up so that it shows the size of the surplus or deficit.
§ 9. Approval of the annual financial statements to be completed completed and submitted to the auditor by 15 March following the financial year.
Annual reports for district and funds shall be treated respectively district board and area board for revision. Have any objections, provide further details of the protocol.
District accounts shall be submitted to the AGM for approval. Fund accounts shall be submitted to the Reindeer boss.
§ 10. Specification of income statement The result should be set up so as to provide a satisfactory indication of how the financial results for the fiscal year is obtained.
Profit and loss should be divided into records in accordance with instructions from the Reindeer boss.
§ 11. Specification of status (balance) status (balance) should show assets, liabilities and equity, as well as pledges and guarantees by the end of the fiscal year.
Status shall be divided into records in accordance with instructions from the Reindeer boss.
§ 12. Additional information to the income statement and status Upon closing of the accounts shall be provided the following additional information:
1.
Receivable and accounts receivable, as well as stocks and shares, shall be specified in status (balance) with names and amounts.
2.
For each entry in status (balance) comprising husbandry equipment, buildings, machinery, etc. shall be given regarding depreciation and amortization for the fiscal year.
§ 13. Depreciation Rules for fixed assets Fixed assets that deteriorate due to age and wear are depreciated according to plan, unless the former is sufficient depreciated. Assets must not be entered with a higher amount than the value upon acquisition.
Reindeer commander gives guidance depreciation rules.
§ 14. Revision Any statements subject reindeer grazing and funds are audited. Audit shall be conducted by registered or certified public accountant.
§ 15. Supplementary provisions Reindeer commander may grant exemptions from these regulations.
§ 16. Entry into force These regulations enter into force on 1 January 1994. At the same time repealed Reindeer Board regulations on accounting of reindeer funds and reindeer grazing the accounts of 24 March 1992.1
