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  • Simplified bookkeeping accounts.
    Small business entities are provided with the simplified forms of the Bookkeeping balance sheet and the Income statement:

    • The Bookkeeping balance sheet and the Income statement cover only the indicators of the particle groups (without the specification of the particles);
    • The Enclosures of the Bookkeeping balance sheet and the Income statement cover only the most important information without which it is impossible to estimate the financial status of the company and financial results of its activities.

    The requirements to which legal entities should conform to be referred to small business entities which have the right to use the simplified bookkeeping accounts system:

    1. The total participation interest of the Russian Federation, the entities of the Russian Federation, municipal formations, foreign legal entities, foreign citizens, non-governmental and religious organizations (associations), charitable and other funds in the statutory (reserve) capital (unit investment fund) does not exceed 25 percent, the participation interest of one or several legal entities which are not small and medium business entities does not exceed 25 percent;
    2. The average number of employees for the previous calendar year must not exceed 100 people included;
    3. The sales (work, service) proceeds ex. Value added tax or balance sheet assets (net book value of fixed assets and fictitious assets) for the previous calendar year must not exceed the extreme values stated by the Government of the Russian Federation.

    The extreme values mentioned in the 3rd clause are stated once in 5 years.

    The simplified bookkeeping accounts system including simplified bookkeeping (financial) accounts can also be used by non-commercial organizations except for:

    • Non-commercial organizations cash and other property inflow of which exceeded three million rubles for the previous reported year;
    • Bar associations, law bureaus, legal aid agencies, law chambers, notary chambers;
    • Housing and housing construction cooperatives, consumer credit cooperatives, agricultural consumer cooperatives;
    • Microlenders, mutual insurance associations;
    • Public sector organizations, government corporations, government companies;
    • Political parties, their regional departments or other structural subdivisions;
    • Self-regulating organizations;
    • Non-commercial organizations which are included to the Register of non-commercial organizations acting as a foreign agent.

    However such organization can choose the common form of balance and Income statement instead of the simplified form, i.e. the usage of the simplified forms of bookkeeping accounts is the right but not the obligation. The decision about the usage of the simplified forms of annual accounts should be agreed with the founders interested in getting unprejudiced and complete information on the financial status of the company.
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