RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of November 28, 2008 No. 98

About approval of the Instruction for conducting financial accounting by certain subjects of the financial market of the Republic of Kazakhstan

For the purpose of enhancement of financial accounting of certain subjects of the financial market of the Republic of Kazakhstan the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Instruction for conducting financial accounting by certain subjects of the financial market of the Republic of Kazakhstan.

2. This resolution becomes effective after fourteen days from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan.

3. From the date of enforcement of this resolution to recognize invalid:

1) the resolution of Board of National Bank of the Republic of Kazakhstan of July 15, 2004 No. 95 "About approval of the Instruction for conducting financial accounting of the exchange transactions with cash foreign currency performed based on the license of National Bank of the Republic of Kazakhstan" (registered in the Register of state registration of regulatory legal acts at No. 3015, published on August 26, 2004 in the Kazakhstanskaya Pravda newspaper No. 190 (24500);

2) the resolution of Board of National Bank of the Republic of Kazakhstan of November 30, 2007 No. 135 "About approval of the Instruction for conducting financial accounting of investing activities by certain subjects of the financial market of the Republic of Kazakhstan" (registered in the Register of state registration of regulatory legal acts at No. 5088).

4. To accounting department (Shalgimbayeva N. T.):

1) together with Legal department (Sharipov S. B.) to take measures to state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) in ten-day time from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan of this resolution to bring it to the attention of the interested divisions of central office and territorial branches of National Bank of the Republic of Kazakhstan, Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations and Consolidation of legal entities "The association of financiers of Kazakhstan".

5. To territorial branches of National Bank of the Republic of Kazakhstan in three-day time from the date of receipt of this resolution to bring it to the attention of the organizations performing separate types of banking activities, the accumulation pension funds, insurance (reinsurance) organizations, insurance brokers, professional participants of the security market and special finance companies of the Republic of Kazakhstan.

6. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Akishev D. T.

 

Approved by the resolution of Board of National Bank of the Republic of Kazakhstan of November 28, 2008 No. 98

Instruction for conducting financial accounting by certain subjects of the financial market of the Republic of Kazakhstan

Chapter 1. General provisions

1. This Instruction is developed according to the Laws of the Republic of Kazakhstan "About National Bank of the Republic of Kazakhstan" of March 30, 1995 and "About financial accounting and the financial reporting" of February 28, 2007, other regulatory legal acts of the Republic of Kazakhstan and international accounting standards.

2. This Instruction disaggregates conducting financial accounting of transactions on placement of own money in deposits, loans, securities, derivative tools, the affined precious metals, foreign currency, hedging transactions, and also repo operations and the return repo by the organizations performing separate types of banking activities, the accumulation pension funds, the insurance (reinsurance) organizations, insurance brokers, professional participants of the security market and special finance companies of the Republic of Kazakhstan (further - the organization).

3. In this Instruction accounting methods of transactions of purchase and sale of financial assets for date of the conclusion of the transaction and for date of payment under the transaction according to requirements of international accounting standards are applied. The choice of one of the accounting methods of transactions of purchase and sale of financial assets specified in this Item is determined by accounting policy of the organization.

4. Making of the additional accounting entries which are not contradicting requirements of this Instruction and the legislation of the Republic of Kazakhstan on financial accounting and the financial reporting is allowed.

Chapter 2. The basic concepts used in this Instruction

5. In this Instruction the following concepts are used:

1) debt securities - the securities certifying the right of its owner to obtaining from the issuer of the amount of principal debt in the amount of and in the terms established by release conditions;

2) book value - the cost at which asset or liability are reflected in the balance sheet less remuneration;

3) costs according to the transaction are the additional expenses which are directly connected with acquisition, release or disposal of financial asset or the financial liability which are the compulsory provision for their acquisition, release or realization;

4) Fixing of the London Association of the market precious the metallovstoimost of the affined precious metals established by the London Association of the market of precious metals. Fixing of the London Association of the market of precious metals is expressed in the American dollars for 1 troy ounce;

5) depreciation of award or discount (discount) is gradual reference of the amount of registered award or discount (discount) for the income or expenses of the organization;

discount (discount) - the amount of negative difference arising between acquisition value of the debt security (without the added remuneration) and its nominal value, forming deferred revenues for the investor (buyer);

award - the amount of positive difference arising between acquisition value of the debt security (without the added remuneration), and its nominal value, forming deferred expenses for the investor (buyer);

6) equity securities - the securities certifying the right to share in net assets (assets less obligations) the organizations. For the purpose of this Instruction shares, depositary receipts on the shares, shares of mutual investment funds and other securities falling under determination of equity securities according to international accounting standards belong to equity securities.

Chapter 3. Financial accounting of transactions with securities

1. Accounting of the acquired debt securities intended for trade and available for sale

6. Upon purchase of the debt securities classified in category "the securities intended for trade" and "securities, available for sale" (on the purchase value including costs according to the transaction) the following accounting entries on the debit (further - Dt) and to the credit (further - Kt) the corresponding accounts are performed:

1) on the net value of the acquired debt security (on the amount which is not exceeding it nominal value):

Дт 1120 01 "The financial assets intended for trade"

1140 01 "Short-term financial investments, available for sale",

2030 01 "Long-term financial investments, available for sale"

Кт 1030 "Money on current accounts",

1040 "Money on maps accounts";

2) on the award amount including the costs connected with acquisition of the debt security:

Дт 1120 03 "Award on the acquired financial assets intended for trade"

1140 03 "Award on the acquired financial investments, available for sale",

2030 03 "Award on the acquired long-term financial investments, available for sale"

Кт 1030 "Money on current accounts",

1040 "Money on maps accounts";

3) on the amount of discount (discount):

Дт 1120 01 "The financial assets intended for trade"

1140 01 "Short-term financial investments, available for sale",

2030 01 "Long-term financial investments, available for sale"

Кт 1120 02 "Discount on the acquired financial assets intended for trade"

1140 02 "Discount on the acquired financial investments, available for sale",

2030 02 "Discount on the acquired long-term financial investments, available for sale";

4) on the amount of remuneration, added by the previous holder:

Дт 1270 04 "The remuneration added by the previous holders on securities"

2170 03 "The remuneration added by the previous holders on securities"

Кт 1030 "Money on current accounts",

1040 "Money on maps accounts".

7. When charging remuneration according to the acquired debt securities intended for trade and available for sale with the frequency established by accounting policy of the organization on the amount of the added remuneration the following accounting entry is performed:

Дт 1270 01 "Imputed incomes in the form of remuneration on the acquired securities",

2170 01 "Imputed incomes in the form of remuneration on the acquired securities"

Кт 6110 01 "The income connected with receipt of remuneration on the acquired securities".

8. When charging expenses in the form of the income tax which is subject to deduction at source of payment by the issuer of the debt security the following accounting entry is performed:

Дт 7710 "Expenses on the corporate income tax"

Кт 3110 01 "The corporate income tax which is subject to payment".

9. In case of depreciation of premium or discount (discount) to the acquired debt securities intended for trade and available for sale with the frequency established by accounting policy of the organization the following accounting entries are performed:

1) on award depreciation amount:

Дт 7310 02 "The expenses connected with depreciation of premium to the acquired securities"

Кт 1120 03 "Award on the acquired financial assets intended for trade"

1140 03 "Award on the acquired financial investments, available for sale",

2030 03 "Award on the acquired long-term financial investments, available for sale";

2) on depreciation amount of discount (discount):

Дт 1120 02 "Discount on the acquired financial assets intended for trade"

1140 02 "Discount on the acquired financial investments, available for sale",

2030 02 "Discount on the acquired long-term financial investments, available for sale"

Кт 6110 03 "The income connected with depreciation of discount on the acquired securities".

10. After charge of remuneration and depreciation of award or discount (discount) according to Items 7 and 9 of this Instruction, revaluation of the acquired debt securities intended for trade and available for sale is made, at fair value, with the frequency established by accounting policy of the organization and the following accounting entries are performed:

1) according to the debt securities intended for trade:

if fair value of debt securities is higher than their book value:

Дт 1120 04 "Positive fair value adjustment of the financial assets intended for trade"

Кт 6150 01 "Unrealized incomes from change in value of the securities intended for trade";

if the book value of debt securities is higher than their fair value:

Дт 7470 03 "Unrealized expenses from change in value of the securities intended for trade"

Кт 1120 05 "Negative fair value adjustment of the financial assets intended for trade";

on the amount of the registered positive or negative fair value adjustment of debt securities:

Дт 1120 05 "Negative fair value adjustment of the financial assets intended for trade"

Кт 1120 04 "Positive fair value adjustment of the financial assets intended for trade";

2) according to debt securities, available for sale:

if fair value of debt securities is higher than their book value:

Дт 1140 04 "Positive fair value adjustment of financial investments, available for sale",

2030 04 "Positive fair value adjustment of long-term financial investments, available for sale"

Кт 5440 "Reserve on revaluation of financial assets, held for sale";

if the book value of debt securities is higher than their fair value:

Дт 5440 "Reserve on revaluation of financial assets, held for sale"

Кт 1140 05 "Negative fair value adjustment of financial investments, available for sale",

2030 05 "Negative fair value adjustment of long-term financial investments, available for sale";

on the amount of the registered positive or negative fair value adjustment of debt securities:

Дт 1140 05 "Negative fair value adjustment of financial investments, available for sale",

2030 05 "Negative fair value adjustment of long-term financial investments, available for sale"

Кт 1140 04 "Positive fair value adjustment of financial investments, available for sale",

2030 04 "Positive fair value adjustment of long-term financial investments, available for sale".

11. In case of revaluation of the debt securities intended for trade and available for sale which cost is expressed in foreign currency on the exchange rate of currencies the following accounting entries are performed:

1) according to the debt securities intended for trade:

in case of increase in the exchange rate of currencies at the amount of positive exchange difference:

Дт 1120 01 "The financial assets intended for trade"

1120 03 "Award on the acquired financial assets intended for trade"

1120 04 "Positive fair value adjustment of the financial assets intended for trade"

1270 01 "Imputed incomes in the form of remuneration on the acquired securities",

1270 04 "The remuneration added by the previous holders on securities"

Кт 6250 01 "Unrealized incomes from revaluation of foreign currency";

and, at the same time, on the amount of negative exchange difference:

Дт 7430 01 "Unrealized expenses from revaluation of foreign currency"

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