of February 10, 2012 No. 24202/197
To heads of banks of the second level
and JSC Development Bank of Kazakhstan
The National Bank of the Republic of Kazakhstan (further - National Bank) in connection with the addresses arriving from banks of the second level concerning accounting of current and non-current assets and obligations reports the following.
According to Item 63 IFRS (IAS) 1 "Accounts presentation" (further - IFRS), for some companies, such as financial institutions, representation of assets and liabilities in ascending order or decrease of liquidity provides reliable and more pertinent information, than that which can be received in case of separation of assets and liabilities on short-term and long-term as the company does not perform delivery of goods or services within accurately determined operating cycle.
Thus, the question of separation of assets and liabilities into short-term and long-term does not arise in case of creation of the second level of the financial reporting by banks on the basis of liquidity degree.
At the same time, the Standard chart of accounts of financial accounting in banks of the second level, the mortgage organizations and Development Bank of Kazakhstan joint-stock company approved by the resolution of Board of National Bank of the Republic of Kazakhstan of January 31, 2011 No. 3, (further - the Chart of accounts) and the Instruction for conducting financial accounting by banks of the second level and Development Bank of Kazakhstan joint-stock company approved by the resolution of Board of National Bank of the Republic of Kazakhstan No. 152 of December 24, 2007 (further - the Instruction) provides recognition of deposits and loans depending on the term of their repayment: short-term - for up to one year inclusive and long-term - more than one year. However in these regulatory legal acts reclassification of deposits and loans is not provided in subsequent in case of change of their terms, for example, in connection with prolongation or reducing term.
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