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Ministry of Justice

Republic of Kazakhstan

On September 22, 2012 No. 6505


of September 7, 2010 No. 444

About approval of accounting policy

(as amended on 18-03-2021)

For the purpose of realization of Item 2 of Article 116 of the Budget code of the Republic of Kazakhstan PRIKAZYVAYU:

1. Approve the enclosed accounting policy.

2. To department of methodology of financial accounting, auditor activities of the Ministry of Finance of the Republic of Kazakhstan (Tuleuov A. O.) provide state registration of this order in the Ministry of Justice of the Republic of Kazakhstan and its official publication in the procedure established by the legislation.

3. This order becomes effective since January 1, 2013.


B. Zhamishev

Approved by the Order of the Minister of Finance of the Republic of Kazakhstan of September 7, 2010 No. 444

Accounting policy

Chapter 1. General provisions

1. Accounting policy is developed according to the Budget code of the Republic of Kazakhstan of December 4, 2008 and the Rules of conducting financial accounting in public institutions approved by the order of the Minister of Finance of the Republic of Kazakhstan of August 3, 2010 No. 393 (it is registered in the Register of state registration of regulatory legal acts at No. 6443) (further - Accounting rules).

2. Accounting policy includes the principles, bases, provisions, rules and the practice applied by public institutions in case of creation and accounts presentation which is single for all public institutions.

Chapter 2. Principles and main quality characteristics of financial accounting and creation of the financial reporting

3. The principles of conducting financial accounting and creation of the financial reporting are charge and going concern.

4. The accrual basis is provided with recognition of results of transactions upon their making irrespective of payment time.

5. The going concern principle means that the public institution has intention to work in the near future, there will be no need of liquidation or essential reducing scales of activities.

6. The main quality characteristics of the financial reporting are clearness, relevance, reliability and comparability.

Clearness - information provided in the financial reporting is clear to users.

Relevance - information is relevant to the users making decisions and helps them to estimate events, to confirm or correct their last estimates.

Reliability - lack of material mistakes and misstatements when users can rely on information as on truthful.

Comparability - opportunity to compare information for the different periods and various public institutions. Financial results of similar transactions are calculated on methodology, single for all public institutions.

Chapter 3. Financial statement elements and their recognition

7. The financial statement elements connected with assessment of financial position are assets, obligations and net assets / the capital.

The resources controlled by public institution as a result of last events from which receipt of future economic benefits or service potential is expected belong to assets.

The existing obligation of public institution arising from last events which settlement will lead to disposal of the resources containing economic benefits or service potential is the obligation.


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