LAW OF THE REPUBLIC OF TAJIKISTAN

of March 25, 2011 No. 702

About financial accounting and the financial reporting

This Law establishes organization-legal bases, the principles and rules of conducting financial accounting and creation of the financial reporting in the Republic of Tajikistan and governs the relations in this sphere.

Chapter 1. General provisions

Article 1. Purpose of this Law

The purpose of this Law consists in providing single policy of financial accounting and the financial reporting on accounting of property, assets and liabilities, creation of the comparable and reliable information connected about the economic activities provided by state bodies, the companies, organizations and other organizations (further - the organizations), necessary for users.

Article 2. The basic concepts used in this Law

In this Law the following basic concepts are used:

- financial accounting - single system of collection, registration, generalization of information on property, the assets, obligations and capital of the organization constituted in the established forms;

- synthetic accounting - account of the generalized accounting data about property types, assets, obligations and economic activities on certain economic signs which is kept on synthetic accounts of financial accounting;

- analytics - account which is kept in the analytical accounts of financial accounting grouping detailed information on property, assets, obligations and intraeconomic transactions of each synthetic account;

- the chart of accounts of financial accounting - the systematized list of synthetic accounts of financial accounting;

- the accounting organization - the legal entity providing services in the field of financial accounting, being the member of the professional organization of accountants, having at least two professional accountants in the state;

- the professional accountant - the physical person having profession and the certificate of the professional accountant;

- accounting secret - the information containing trade secret, specified in source documents of financial accounting and the bookkeeping register;

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