ORDER OF THE MINISTER OF FINANCE OF THE REPUBLIC OF KAZAKHSTAN

of October 22, 2021 No. 1092

About modification and amendments in some orders of the Minister of Finance of the Republic of Kazakhstan

I ORDER:

1. Bring in the order of the Minister of Finance of the Republic of Kazakhstan of January 31, 2013 No. 50 "About approval of the National accounting standard" (it is registered in the Register of state registration of regulatory legal acts at No. 8328) the following changes:

state preamble in the following edition:

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

to state heading of Chapter 1 in the following edition:

"Chapter 1. General provisions";

state Item 2 in the following edition:

"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.";

to state heading of Chapter 2 in the following edition:

"Chapter 2. Conducting financial accounting";

state Item 12 in the following edition:

"12. Fixed assets and intangible assets are recognized quality of asset if:

there is probability that the future economic benefits connected with asset will arrive to the subject;

cost of asset is reliably measured;

the asset is acquired not for the subsequent sale in the course of ordinary activities.";

state Item 58 in the following edition:

"58. In case of provision of services, performance of works the income is recognized by specifying on stage of completeness of transaction on reporting date.

The stage of completeness of transaction is determined by that method which provides reliable assessment of the performed work, in particular:

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