Regulatory Alerts1992-12-13
Instruction No. 10/92 of December 14, 1992: Financial System Operations and Profit and Loss Determination
The National Bank of Angola mandates that all financial institutions adopt a monthly accrual accounting principle for recording costs and profits related to their operations. This directive requires institutions to book all financial charges and earnings into classes 7 and 8 of the official Chart of Accounts, irrespective of actual cash receipt or payment. Issued under the Bank's Organic Law, the regulation becomes effective as of January 1992.
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