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Registered by

Ministry of Justice

 Republic of Kazakhstan

On February 8, 2013 No. 8328

ORDER OF THE MINISTER OF FINANCE OF THE REPUBLIC OF KAZAKHSTAN

of January 31, 2013 No. 50

About approval of the National accounting standard

(as amended on 22-10-2021)

For the purpose of implementation of the subitem 4) of Item 5 of article 20 of the Law of the Republic of Kazakhstan "About financial accounting and the financial reporting "I ORDER:

1. Approve the National accounting standard.

2. Recognize invalid:

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

4. This order becomes effective after ten calendar days after day of its first official publication and extends to the relations which arose since January 1, 2013.

Minister

B. Zhamishev

Approved by the Order of the Minister of Finance of the Republic of Kazakhstan of January 31, 2013, No. 50

National accounting standard

Chapter 1. General provisions

Paragraph 1. Scope of application

1. This National accounting standard (further - the Standard) is developed according to the Law of the Republic of Kazakhstan "About financial accounting and the financial reporting" (further - the Law on financial accounting) and determines the principles and quality characteristics of the financial reporting, financial accounting and financial reporting preparation by small business entities, and also legal entities whose exclusive type of activity is the organization of exchange transactions with foreign currency (further - the subject).

2. Action of this Standard does not extend to the financial organizations, branches of nonresident banks of the Republic of Kazakhstan, branches of the insurance (reinsurance) nonresident organizations of the Republic of Kazakhstan, branches of insurance nonresident brokers of the Republic of Kazakhstan and Development bank, regulation of system of financial accounting and which financial reporting according to the legislation of the Republic of Kazakhstan performs National Bank of the Republic of Kazakhstan.

Paragraph 2. The determinations used in this Standard

3. In this Standard the following determinations are used:

1) assets - the resources controlled by the subject as a result of last events from which receipt of future economic benefits is expected;

2) the obligation - the existing subject's obligation arising from last events which settlement will lead to disposal of the resources containing economic benefits;

3) asset carrying amount or obligations - the amount on which the asset or liability is recognized balance;

4) the capital - the share in the subject's assets remaining after deduction of all obligations;

5) the income - increase in economic benefits during the accounting period in the form of inflow or increments of assets or reduction of obligations which lead to the increase in the capital other than the increase connected with fees of persons participating in the capital;

6) expenses - reduction of economic benefits during the accounting period in the form of outflow or reduction of assets or emergence of obligations which lead to the capital reduction other than the reduction connected with distribution to persons participating in the capital;

7) fixed assets are tangible assets which:

are kept by the subject for use in production or delivery of goods (works, services), for leasing to other persons, increase in value or for the administrative purposes;

it is supposed to use during more than one period;

8) the intangible asset is the identifiable non-cash asset which does not have physical shape, withheld for use in production or delivery of goods or services for the purpose of leasing to other parties or in the administrative purposes;

9) inventories are assets, held for sale in the course of ordinary activities, or in the form of raw materials and materials, held for use in production process or in case of provision of services;

10) exchange differences - the differences arising in case of transfer of certain quantity of units in one currency in other currency with use of the different exchange rates of currencies.

Paragraph 3. Principles and quality characteristics of the financial reporting

4. Financial accounting and financial reporting preparation of the subject is based on accrual bases and continuity.

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