LAW OF THE REPUBLIC OF ARMENIA

of March 17, 2021 No. ZR-84

About modification and amendments in the Law "About Financial Accounting of the Organizations of the Public Sector"

Accepted by National Assembly of the Republic of Armenia on March 4, 2021

Article 1. Regarding the 2nd article 2 of the Law of June 21, 2014 No. ZR-97 "About financial accounting of the organizations of the public sector" (further - the Law) the words "state bodies (except for Central bank)" shall be replaced with words "the device of the Defender of human rights of the Republic of Armenia, the office of the president of the Republic of Armenia, the office of the Prime Minister of the Republic of Armenia, the office of National assembly of the Republic of Armenia, Council of public broadcasting company of the Republic of Armenia, state bodies (including subordinated state bodies), except for the Central bank of the Republic of Armenia".

Article 2. Regarding 1 article 3 of the Law:

To exclude 1) from item 4 of the word of "financial and economic activities";

Item 6 after the word "packet" to add 2) with the words "and instructions for filling".

Article 3. In article 4 of the Law:

Part 2 to state 1) in the following edition:

"2. The authorized body within the competence claims:

1) accounting standard of the public sector of the Republic of Armenia;

2) the chart of accounts of financial accounting of the organizations and management on its application;

3) sample of model of policy of financial accounting of the organizations;

4) sample of packet of the financial reporting of the organizations and instruction for its filling;

5) terms and methodology of revaluation of the parcels of land and buildings in the organizations;

6) minimal cost of classification of tangible asset as fixed assets in the organizations;

7) terms of normative useful service on accounting of depreciation of the new fixed assets and biological assets calculated on original cost in the organizations;

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