LAW OF THE AZERBAIJAN REPUBLIC

of May 4, 2018 No. 1140-VQD

About introduction of amendments to the Law of the Azerbaijan Republic "About financial accounting"

Being guided by Item 27 of part I of article 94 of the Constitution of the Azerbaijan Republic, Millie decides Majlis of the Azerbaijan Republic:

In the Law of the Azerbaijan Republic "About financial accounting" (Collection of the legislation of the Azerbaijan Republic, 2004, No. 8, Article 605; 2008, No. 12, Article 1049; 2010, No. 4, Articles 265, 276; 2012, No. 6, Articles 512, 529; 2013, No. 1, Article 18; 2015, No. 7, Article 819; 2016, No. 10, Articles 1601, 1609, No. 11, Article 1754; 2017, No. 3, Article 333) to make the following changes:

1. To exclude the words "and off-budget state funds" from Article 1.2 and ", and also documents of advisory nature".

2. Under Article 2:

2.1. state Articles 2.1.1 and 2.1.3-2.1.7 in the following edition:

"2.1.1. Rules of accounting - regulatory legal acts on conducting financial accounting in subjects of financial accounting, to creation of documents of financial accounting, and also on reflection in financial accounting of separate financial and economic activities.

2.1.3. International accounting standards - The international accounting standards, International accounting standards accepted by the international organization specializing in this area, and the comment of this international organization for these standards.

2.1.4. International accounting standards for the public sector - the international standards accepted by the international organization specializing in this area and provided for the public sector.

2.1.5. International accounting standards for subjects of small and medium entrepreneurship - the international standards accepted by the international organization specializing in this area and provided for subjects of small and medium entrepreneurship.

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