of February 14, 1997 No. 4/2
About the Temporary instruction for separation of the financial, tax, regulating and statistical reporting for banks and financial credit institutes
Due to various purposes of financial and tax statements and the existing differences between accounting standards and tax accounting and the reporting the Board of National Bank of the Kyrgyz Republic decides:
2. Enact this Temporary instruction since March 1, 1997. Determine that commercial banks and financial credit institutes use the approved procedure for transformation of accounts of the capital, the income and expenses on financial accounting and the approved transitional table for taxable profit determination since January 1, 1997.
3. To department of development of accounting procedures:
- bring this Instruction to the attention of the commercial banks and credit institutes licensed by NBKR, and also the Ministries of Finance of the Kyrgyz Republic;
- organize and hold seminar with representatives of Management of tax policy of the Ministry of Finance on the subject "Financial Accounting as Single Source of Information for Financial and Tax Statements".
4. To impose control of execution of this resolution on the vice-chairman of NBKR Esenaliyeva Zh. S.
Chairman of the board of National Bank of the Kyrgyz Republic
Approved by the Resolution of Board of National Bank of the Kyrgyz Republic of February 14, 1997 No. 4/2
Purposes and tasks
1. This Instruction is intended for determination of technique of transition of the banks and financial credit institutes licensed by NBKR (further - bank) on the new Chart of accounts of financial accounting in commercial banks and financial credit institutes, the licensed NBKR approved by the resolution of Board of NBKR N 39/1 of December 17, 1996 and corresponding to the Regulations on accounting standards and the principles of the financial reporting approved by the resolution of Board of NBKR N 36/2 of November 12, 1996. According to these standards main objective of financial accounting is creation of the financial reporting which shows real financial position, and also reflects results of work for certain period taking into account the risks inherent in transactions of bank, and the other information necessary for external users.
1.1. In addition to the financial reporting banks shall create other types of the reporting, for example: tax, regulating, statistical statements. The principles of creation of these otchetnost can significantly differ, however financial accounting is the single source of information for them.
As the purposes of the financial, tax, regulating and statistical reporting, differ, accounting of separate transactions according to international accounting standards and accounting of the same transactions for the purposes of the taxation, regulations from the point of view of supervision, can significantly differ.
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