On Nov. 18, RUS CB issued ord on on reflecting estimated liabilities.
RUS CB published ordinance 6889-U on the procedure for reflecting in the accounts of accounting reserves - estimated liabilities and contingent liabilities by non-credit financial organizations, credit history bureaus and credit rating agencies.
Key Points
The ord outlines conditions for non-credit financial fims, credit bureaus, and rating agencies to reflect reserves, estimated liabilities/contingent liabilities in their accounts.
In addition, the ordinance specifies the necessary accounting entries for this process.
The requirements of this instruction do not apply to foreign insurance organizations.
