Overview of the accounting system in the Republic of Kazakhstan

In this article, the authors reviewed the current state of the accounting system in the Republic of Kazakhstan. The basic principles of state regulation of accounting and financial reporting at all levels of government, from current laws to the internal policy of enterprises, are disclosed. In tabular form, the adopted legislative acts and internal accounting documents are given and also the scope of their application by enterprises is considered. The authors described in detail the role of various state and public organizations in the regulation of accounting: the Parliament of the Republic of Kazakhstan; Ministry of Finance of the Republic of Kazakhstan; National Bank of Kazakhstan; Chambers of Auditors of the Republic of Kazakhstan; Institute of Professional Accountants of the Republic of Kazakhstan. The article reviewed briefly accounting systems in different countries, provides 4 global models of accounting systems and a comparative analysis with the Republic of Kazakhstan. In addition, an overview was given on the articles of the main law “On Accounting and Financial Reporting in the Republic of Kazakhstan”. The authors describe the upcoming changes to the Standard Chart of Accounts and indicate completely new accounts introduced in 2019.

accounting, financial reporting, regulation, legislation, models, analysis, systems, бухгалтерский учет, финансовая отчетность, регулирование, законодательство, модели, анализ, системы, бухгалтерлік есеп, қаржылық есептілік, реттеу, заңнама, үлгілер, талдау, жүйелер

1. Republıc of Kazakhstan Law “On Accounting and Financial Reporting” dated 28.02.2007 (with changes and additions from 01.07.2018).

2. Republıc of Kazakhstan Law “Tax Code” dated 01.01.2018.

3. Typical chart of accounts for accounting dated 23.05.2007 (with changes and additions from 02.10.2018).

4. IFRS. - M.: Pskeri, 2012. - 716 p.

5. Rules for maintaining accounting records of the Republic of Kazakhstan dated 14.10.2011.