Article 14. Assessment and accounting of financial reporting elements of the Law on Accounting and Financial Reporting

Home / RLA / Article 14. Assessment and accounting of financial reporting elements of the Law on Accounting and Financial Reporting

1. Assessment of financial reporting elements is the determination of the monetary amounts for which these elements are recognized and recorded in accounting and financial statements. The methods and procedures for applying estimates are established in accordance with international standards, the international standard for small and medium-sized businesses and the requirements of the legislation of the Republic of Kazakhstan on accounting and financial reporting.

2. Accounting methods and the procedure for recognizing elements of financial statements are established in accordance with international standards, the international standard for small and medium-sized businesses and the requirements of the legislation of the Republic of Kazakhstan on accounting and financial reporting.

The Law of the Republic of Kazakhstan dated February 28, 2007 No. 234.

This Law regulates the accounting and financial reporting system in the Republic of Kazakhstan, establishes the principles, basic qualitative characteristics and rules of accounting and financial reporting.

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Republic of Kazakhstan

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