Article 7. Accounting documentation The Law on Accounting and Financial Reporting

Home / RLA / Article 7. Accounting documentation The Law on Accounting and Financial Reporting

1. Accounting documentation includes primary documents, accounting registers, financial statements and accounting policies.

Accounting records are made on the basis of primary documents.

2. The forms or requirements for the primary documents used for registration of transactions or events are approved by the authorized body and (or) the National Bank of the Republic of Kazakhstan in accordance with the legislation of the Republic of Kazakhstan.

3. Primary documents on both paper and electronic media, the forms of which or the requirements for which are not approved in accordance with paragraph 2 of this Article, individual entrepreneurs and organizations develop independently or apply the forms or requirements approved in accordance with the legislation of the Republic of Kazakhstan, or apply to accounting forms submitted by individuals – non–residents or non-resident legal entities not registered in the territory of the Republic of Kazakhstan, which must contain the following mandatory banking details:

1) the name of the document (form);

2) the date of compilation;

3) the name of the organization or the surname and initials of the individual entrepreneur on whose behalf the document was drawn up;

4) the content of the operation or event;

5) units of measurement of an operation or event (in quantitative and monetary terms);

6) the names of the positions, surnames, initials and signatures of the persons responsible for the operation (confirmation of the event) and the correctness of its execution;

7) Identification number.

3-1. Depending on the nature of the transaction or event, the requirements of regulatory legal acts of the Republic of Kazakhstan and the method of processing accounting information, if this does not contradict the legislation of the Republic of Kazakhstan, additional details may be included in the primary documents.

4. The primary documents must be drawn up at the time of the transaction or event or immediately after its completion.

5. The information contained in the primary documents accepted for accounting is accumulated and systematized in the accounting registers.

The data from the accounting registers are grouped and transferred to the financial statements.

6. When compiling primary documents and accounting registers on electronic media, individual entrepreneurs and organizations must make copies of such documents on paper for other participants in operations, as well as at the request of government agencies to which such a right of claim is granted in accordance with the legislation of the Republic of Kazakhstan.

7. Corrections to cash and bank primary documents are not allowed. Corrections may be made to the remaining primary documents only in agreement with the participants in the operations, which must be confirmed by the signatures of the same persons who signed the documents indicating the date of the corrections.

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.

President

Republic of Kazakhstan

Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases