ORDER OF THE MINISTRY OF FINANCE OF THE KYRGYZ REPUBLIC

of January 22, 2024 No. 1-P

About approval of the Provision on the organization and conducting financial accounting by the organizations of the sector of public administration

For the purpose of enhancement of financial accounting in the sector of public administration, according to the resolution of the Cabinet of Ministers of the Kyrgyz Republic "About delegation of separate rule-making powers of the Cabinet of Ministers of the Kyrgyz Republic to state bodies and executive bodies of local self-government" of March 3, 2023 No. 115,

I ORDER:

1. Approve the Provision on the organization and conducting financial accounting by the organizations of the sector of public administration according to appendix.

2. To management of development of financial accounting, internal audit and internal control:

1) within three working days from the date of registration to publish this order in the state and official languages in the newspaper of "Erkin-limited liability partnership" and on the official site of the Cabinet of Ministers of the Kyrgyz Republic;

To send 2) within three working days from the date of official publication to the copy of this order in duplicate in the state and official languages on the paper and electronic medium, with indication of publication source to the Ministry of Justice of the Kyrgyz Republic for inclusion in the State register of regulatory legal acts of the Kyrgyz Republic;

3) within three working days from the date of entry into force of this order to send the copy of the order in duplicate in the state and official languages to Administration of the President of the Kyrgyz Republic.

3. Declare invalid:

1) the order of the Ministry of Finance of the Kyrgyz Republic of July 11, 2023 No. 2-P "About approval of the Provision on conducting financial accounting and the financial reporting in the sector of public administration";

2) the order of the Ministry of Finance of the Kyrgyz Republic of October 5, 2023 No. 6-P "About modification of the order of the Ministry of Finance of the Kyrgyz Republic "About approval of the Provision on conducting financial accounting and the financial reporting in the sector of public administration" of July 11, 2023 No. 2-P".

4. To provide to the press service within three working days from the date of registration of this order its publication on the website of the Ministry of Finance of the Kyrgyz Republic.

5. To impose control of execution of this order on the deputy minister - the director of the Central Treasury Amanbayev U. M.

6. This order is subject to official publication and becomes effective on January 1, 2024.

Appendix

to the Order of the Ministry of Finance of the Kyrgyz Republic of January 22, 2024 No. 1-P

Provision on the organization and conducting financial accounting by the organizations of the sector of public administration

Chapter 1. General provisions

1. This Provision on the organization and conducting financial accounting by the organizations of the sector of public administration (further - the Provision) establishes single procedure to conducting financial accounting for budgetary institutions.

2. Financial accounting is kept by budgetary institutions according to this Provision, by financing sources with obligatory application of the Unified plan of accounts.

3. Data of bookkeeping registers are information source for preparation of the financial reporting of budgetary institutions.

4. The main managers of the budgetary funds having the right in coordination with the Ministry of Finance of the Kyrgyz Republic (further - the Ministry of Finance) and in view of specifics of the activities to develop and approve the internal documents regulating financial accounting.

Chapter 2. Main requirements to conducting financial accounting

§ 1. Tasks and obligations of accounting service

5. The main objectives of accounting service (accountant) are:

1) timely forming of complete and reliable information about financial and economic activities of budgetary institution, its property status by means of preparation of the financial reporting;

2) providing with information necessary for control over compliance with law of the Kyrgyz Republic in the field of financial accounting when implementing economic activities;

3) control over observance of the approved regulations when implementing economic activities for which such restrictions are provided;

4) control (by means of accounting procedures) over safety and target use of the assets which are available in budgetary institution.

6. Belongs to duties of accounting service (accountant) of budgetary institution:

1) timely registration of economic activities in bookkeeping registers based on source documents, according to the legislation of the Kyrgyz Republic in the field of financial accounting;

2) conducting document flow according to the regulatory legal acts of the Kyrgyz Republic regulating clerical work, archiving, domestic situations of budgetary institution;

3) charge and salary payment to employees according to the labor law, employment contracts, internal documents on employment and documents on accounting of working hours;

4) deduction from payments for the salary of taxes and insurance premiums according to the tax legislation and the legislation on the national social insurance;

5) conducting tax accounting, including maintaining tax registers, according to requirements of the tax legislation of the Kyrgyz Republic;

6) control of observance of approved budgets on all sources of financing;

7) providing the head of budgetary institution with information on amounts and special-purpose character of the actual execution of approved budgets and estimates by financing sources;

8) quarterly (for the accounts opened in foreign commercial banks - annually) carrying out reconciliation on balances in cash on settlement accounts in commercial banks, on accounts in system of Treasury and on accounts in National Bank of the Kyrgyz Republic with accounting data and in the presence of discrepancies timely to make necessary corrections;

9) carrying out reconciliation on all debtors and creditors for December 31 every year remaining balance of receivables and payables in writing;

10) providing inventory-taking group with all booking data necessary for carrying out inventory count of assets, entering of necessary adjustments into bookkeeping registers by results of the carried-out inventory count;

11) control of timely provision and correct execution of material and expense reports of employees of budgetary institution;

12) preparation of the financial reporting, reporting on budget implementation, statistical reporting, tax statements and reporting under insurance premiums;

13) observance of requirements of the legislation of the Kyrgyz Republic in the field of financial accounting.

§ 2. Responsibility of the head and chief accountant

7. The head of budgetary institution bears responsibility for:

1) the organization of financial accounting and internal control system in budgetary institution;

2) the organization of system of document flow in budgetary institution, including for stores organization of source accounting documents, bookkeeping registers and forms of the financial reporting;

3) timely provision of the authentic financial reporting of budgetary institution;

4) ensuring carrying out statutory audit in the cases established by the legislation of the Kyrgyz Republic in audit area;

5) approval of job descriptions for employees of accounting service;

6) observance of requirements of the legislation of the Kyrgyz Republic in the field of financial accounting in case of accomplishment of economic activities;

7) training and advanced training of the chief accountant or head of accounting service and employees of accounting service.

8. The chief accountant (accountant) or the head of accounting service submits directly to the head of budgetary institution and bears responsibility for:

1) organization of work of accounting service;

2) observance of requirements of the legislation of the Kyrgyz Republic in the field of financial accounting;

3) timely preparation of the authentic financial reporting of budgetary institution;

4) maintaining bookkeeping registers;

5) development of job descriptions and distribution of service duties in accounting service;

6) control of execution of service duties by employees of accounting service;

7) transfer of cases in case of dismissal.

§ 3. Rights of the chief accountant

9. The chief accountant for the purpose of accomplishment of tasks and obligations of accounting service has the right:

1) to determine certain sites of work (financial group, group of calculations, material group, etc.) and to independently distribute work on these sites between employees of accounting service;

To receive 2) from other structural divisions and employees of budgetary institution any information relating to making and registration of economic activities and also to participate in reconciliation procedure of the economic agreement;

3) to demand from employees of budgetary institution of timely accomplishment of regulatory legal acts of the Kyrgyz Republic (including international) in the field of financial accounting and the reporting;

4) to address the head of budgetary institution with offers on development and modification of internal documents on the organization of system of preparation and budget implementation, financial accounting, internal control and the taxation;

5) to address the head of budgetary institution with offers on need of receipt of explanations from the representative and monitoring bodies concerning correctness of application of regulations of the legislation of the Kyrgyz Republic in the field of financial accounting, internal control and the taxation;

6) to demand from responsible persons (further - MOL) and advance holders of budget institution of timely provision of material and expense reports in the established format;

7) to address the head of budgetary institution with offers on awarding of employees of accounting service, the direction them on training, encouragement, job development;

8) to address the head of budgetary institution with offers on application of authority punishments to employees of accounting service and to the employees of budgetary institution breaking the established regulations and rules of financial accounting and the reporting, internal control system and the taxation;

9) to demand from employees of accounting service of execution of the job responsibilities;

10) to address the head of budgetary institution with offers on the number of staff of accounting service;

To receive 11) from accounting services of subordinated and territorial subdivisions all necessary information for forming of the summary financial reporting.

10. Requirements of the chief accountant regarding procedure for registration and submission to accounting service of necessary documents and data are obligatory for all employees of budgetary institution, and in case of centralization of accounting for all served budgetary institutions.

§ 4. Reception-transmission put the chief accountant

11. In case of release of the chief accountant from post (in case of dismissal, appointment to other position or movements) reception-transmission of cases to the chief accountant who is again appointed to position, or in the absence of the last - to the authorized person designated by the head of budgetary institution is made. From the moment of reception-transmission put the right to sign granted to the chief accountant dismissed it is cancelled.

12. For carrying out reception-transmission of cases by the chief accountant the commission on carrying out reception-transmission of cases (further - the commission) based on the order of the head of budgetary institution where are specified is created:

1) reason of reception-transmission of cases;

2) information on the official accepting cases;

3) information on the official submitting the cases;

4) person who is granted right to sign for reception-transmission of cases and before registration of right to sign of the official accepting case;

5) date as of which reception-transmission of cases is made;

The term of reception-transmission put 6), but no more than two weeks and no later than date of dismissal of the chief accountant;

7) structure of the commission;

8) secretary of the commission;

9) persons responsible for preparation of the relevant documents and representation to their Commission.

13. Commission:

1) is organized by carrying out reception-transmission of cases of officials and provides creation of the delivery-acceptance certificate of cases according to requirements of this provision;

2) is checked by condition of cash desk (whether proper conditions for storage of cash liquidity, condition of entries in the cash book, condition on other values which are stored in cash desk and compliance to their accounting entries, availability of checkbooks, numbers of unused checks are provided) and draws up the inspection statement of balances in cash in cash desk in which the amount of balance in cash, number and date of the last receipt and payment orders which is signed by the person both transferring, and accepting cases of accounting service and also the cashier, or person who is responsible for conducting cash transactions is specified;

3) is checked by condition of cash accounting, accounting of settlement transactions, settlement balance sheet items (condition of receivables and payables, availability unreal for debt collection, with indication of persons, guilty of it, availability of reconciliation statements of mutual calculations, availability of the amounts which are not transferred timely into the budget);

4) considers the written explanations received from the official who allowed shortage, surplus, or other violations and specifies them in the delivery-acceptance certificate of cases;

5) is checked by compliance of data of the balance sheet for the last reporting date preceding date of reception-transmission of cases, data of accounting registers.

14. In the presence of notes from the members of the commission or officials (who are handing over and accepting cases), or in case of detection of discrepancy, the reasons of their origin then the commission on carrying out reception-transmission of cases takes measures for their elimination become clear.

15. Members of the commission bear responsibility within the competence for completeness and reliability of documents on reception-transmission of cases of officials.

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