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RESOLUTION OF THE CABINET OF MINISTERS OF THE AZERBAIJAN REPUBLIC

of May 27, 2010 No. 97

About approval of Rules of representation and publication of the annual financial reporting and the summary (consolidated) financial reporting of the commercial organizations

(as amended on 20-04-2021)

According to article 12.1 of the Law of the Azerbaijan Republic "About financial accounting" and taking into account the offer of the Ministry of Finance of the Azerbaijan Republic approved with involved bodies the Cabinet of Ministers of the Azerbaijan Republic decides:

1. Approve "Rules of representation and publication of the annual financial reporting and the summary (consolidated) financial reporting of the commercial organizations" it (is applied).

2. This resolution becomes effective from the date of signing.

Prime Minister of the Azerbaijan Republic

Artur Rasi-Zade

Approved by the Resolution of the Cabinet of Ministers of the Azerbaijan Republic of May 27, 2010 No. 97

Rules of representation and publication of the annual financial reporting and the summary (consolidated) financial reporting of the commercial organizations

1. General provisions

1.1. These rules are prepared according to the Law of the Azerbaijan Republic "About financial accounting" and establish rules of representation and publication of the annual financial reporting and the summary (consolidated) financial reporting of the commercial organizations.

1.2. These rules extend to the commercial organizations (further - the commercial organizations), except for credit institutions, small business entities.

1.3. Public structures constitute the annual financial reporting and the summary (consolidated) financial reporting according to International accounting standards.

1.4. The commercial organizations constitute the annual financial reporting and the summary (consolidated) financial reporting according to International accounting standards or International accounting standards for subjects of small and medium business.

2. Contents of the annual financial reporting

2.1. Contents of the annual financial reporting on the commercial organizations consist of the following:

2.1.1. financial status statement;

2.1.2. report on the income or losses and other total income;

2.1.3. report on changes of the capital;

2.1.4. cash flow statement;

2.1.5. significant accounting policy and explanatory notes.

3. Procedure for submission of the annual financial reporting and the summary (consolidated) financial reporting

3.1. The commercial organizations shall provide the annual financial reporting and the summary (consolidated) financial reporting after completion of the accounting period, respectively no later than April 30 and on June 30 the next year.

3.2. The commercial organization represents the annual financial reporting to superior organization to which it submits, or to the main society constituting the summary (consolidated) financial reporting, and in case of their otsutstviyauchreditel (founders).

3.3. The commercial organization constituting the summary (consolidated) financial reporting represents this reporting of superior organization to which it submits, and to the founder (founders).

3.4. Data on representation by the commercial organizations (except for investment funds and their managing insurance companies, persons licensed in the security market) the annual financial reporting and the summary (consolidated) financial reporting move superior organization to which they submit, or the founder (founders) in the Ministry of Finance of the Azerbaijan Republic, and information of investment funds and their managing insurance companies in Chamber on control of the financial markets of the Azerbaijan Republic within 10 days from final day of submission of this reporting.

3.5. The commercial organizations obtaining the credits under the state guarantee or participating in the projects connected with expenditure of public debt and also the subsidies receiving from the budget, subventions, grants or budgetary funds connected with accomplishment of certain powers, represent to the Ministry of Finance of the Azerbaijan Republic the annual financial reporting and the summary (consolidated) financial reporting together with audit opinion in the cases and procedure established by the law.

3.6. No. 191 is excluded according to the Resolution of the Cabinet of Ministers of the Azerbaijan Republic of 06.09.2012

3.7. No. 191 is excluded according to the Resolution of the Cabinet of Ministers of the Azerbaijan Republic of 06.09.2012

4.

Part 4 is excluded according to the Resolution of the Cabinet of Ministers of the Azerbaijan Republic of 06.09.2012 No. 191

5. Publication of the annual financial reporting and the summary (consolidated) financial reporting

5.1. From structures of social significance and the commercial organizations, the constituting commercial organizations (except subjects of micro and small business) the summary (consolidated) financial reporting, and also obtaining the credits under the state guarantee or participating in the projects connected with expenditure of public debt, and which are equally receiving from the budget of subsidy, subvention, grants or budgetary funds connected with accomplishment of certain powers it is required also following:

5.1.1. in the presence they have pages or in the periodical on the Internet – publication of the annual financial reporting and the summary (consolidated) financial reporting together with audit opinion on this page on the Internet with condition of ensuring free use of these data;

5.1.2. it is cancelled.

5.2. The ministry of taxes of the Azerbaijan Republic till March 31 of the year going after accounting year represents once a year to the Ministry of Finance of the Azerbaijan Republic the list of the commercial organizations which shall publish the financial reporting and the summary (consolidated) financial reporting together with audit opinion (except for the commercial organizations which obtained the credit under the state guarantee or participating in the projects connected with expenditure of public debt and also which allocates budgetary funds in connection with execution of subsidy, subvention, grant from the budget or certain powers).

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