Resolution No. 26 (474) — 15 — Article 271

CENTRAL BANK OF THE REPUBLIC OF UZBEKISTAN
BOARD OF DIRECTORS

RESOLUTION

271 On Amendments and Additions to the Chart of Accounts for Accounting in Microcredit Organizations

Registered by the Ministry of Justice of the Republic of Uzbekistan on June 24, 2011, Registration No. 1639

(Enters into force on July 4, 2011)

In accordance with the Laws of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan" (Information Bulletin of the Oliy Majlis of the Republic of Uzbekistan, 1995, No. 12, Article 247), "On Microcredit Organizations" (Collection of Legislation of the Republic of Uzbekistan, 2006, No. 37-38, Article 372), and the Resolution of the President of the Republic of Uzbekistan No. PQ-1438 of November 26, 2010 "On Priority Directions for Further Reforming and Increasing the Stability of the Republic's Financial and Banking System and Achieving High International Rating Indicators for 2011–2015" (Collection of Legislation of the Republic of Uzbekistan, 2010, No. 48, Article 442), the Board of Directors of the Central Bank of the Republic of Uzbekistan resolves:

1. Amendments and additions shall be made to the Chart of Accounts for Accounting in Microcredit Organizations, approved by Resolution No. 24/5 of the Board of Directors of the Central Bank of the Republic of Uzbekistan dated October 7, 2006 (Registration No. 1639, November 11, 2006) (Collection of Legislation of the Republic of Uzbekistan, 2006, No. 46-47, Article 463), in accordance with the Appendix.

2. This resolution shall enter into force ten days after the day of its state registration by the Ministry of Justice of the Republic of Uzbekistan.

Chairman of the Central Bank
F. MULLAJONOV

Tashkent,
May 21, 2011,
No. 16/5

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Collection of Legislation of the Republic of Uzbekistan, 2011

Article 271 — 16 — No. 26 (474)

APPENDIX

to the Resolution of the Board of Directors of the Central Bank of the Republic of Uzbekistan dated May 21, 2011, No. 16/5

Amendments and Additions to the Chart of Accounts for Accounting in Microcredit Organizations

1. In Section II:

Fill in after account code "15799" with the following account codes and content:

• "16100 Funds Received from Head Office and/or Branches"
  • 16102 Funds Received from Head Office and/or Branches — Financial Funds
  • 16104 Funds Received from Head Office and/or Branches — Other Assets;

Fill in after account code "19925" with the following account code and content:

• "19927 Deferred Expenses Due to Changes in Foreign Currency Exchange Rates";

Replace the word "deferred" ("uzaytirilgan") in the "Name" column of account codes "19931" and "22508" with the word "postponed" ("kechirilgan");

Fill in after account code "22104" with the following account codes and content:

• "22200 Funds Payable to Head Office and/or Branches"
  • 22203 Funds Payable to Head Office and/or Branches — Financial Funds
  • 22205 Funds Payable to Head Office and/or Branches — Other Assets;

Replace the words "revenue (profit)" ("daromad (foyda)") in the "Name" column of account code "22502" with the word "profit" ("foyda");

Fill in after account code "22812" with the following account codes and content:

• "22814 Grant Funds"
• "22816 Deferred Revenue Due to Changes in Foreign Currency Exchange Rates";

Fill in after account code "29805" with the following account code and content:

• "29807 Dividends Payable";

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No. 26 (474) — 17 — Article 271

Accounts with codes "31700" and "31701" shall be stated in the following edition:

• "31700 Appropriated Grant Funds"
  • 31701 Appropriated Grant Funds;

Fill in after account code "45217" with the following account codes and content:

• "45400 Profit Received Due to Changes in Foreign Currency Exchange Rates"
  • 45401 Profit Received Due to Changes in Foreign Currency Exchange Rates;

Fill in after account code "45913" with the following account code and content:

• "45917 Income Received from Grant Funds";

Fill in after account code "54195" with the following account codes and content:

• "54400 Interest Expenses on Leasing (Microleasing)"
  • 54401 Interest Expenses on Leasing (Microleasing);

Fill in after account code "55106" with the following account codes and content:

• "55300 Loss Incurred Due to Changes in Foreign Currency Exchange Rates"
  • 55301 Loss Incurred Due to Changes in Foreign Currency Exchange Rates;

Accounts with codes "55600" and "55602" shall be deleted;

Replace the word "revenue" ("daromad") in the "Name" column of account code "56714" with the word "profit" ("foyda");

Replace the word "Revenue" ("Daromad") in the "Name" column of account codes "56900" and "56902" with the word "Profit" ("Foyda");

2. In Section III:

Fill in after the definition of account code "15799" with the definitions of account codes "16100", "16102" and "16104" with the following content:

"16100 FUNDS RECEIVED FROM HEAD OFFICE AND/OR BRANCHES"

16102 Funds Received from Head Office and/or Branches — Financial Funds

Definition of the Account: Accounting is maintained for operations involving financial funds between the Head Office and branches of a microcredit organization located in the territory of the Republic of Uzbekistan, or between branches of a single microcredit organization. For this account, 22203 — "Funds Payable to Head Office and/or Branches — Financial Funds" is considered a mutually corresponding account. The turnover and balance sums of these accounts must be equal to each other, and there must be no balance in these accounts in the consolidated balance sheet.

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Article 271 — 18 — No. 26 (474)

On the Debit side of the Account: The amount of financial funds issued to the Head Office and/or branches is reflected.
On the Credit side of the Account: The amount of financial funds paid to the Head Office and/or branches, financial funds returned as a result of incorrect transfers, as well as the total amount of all transfers closed at the Head Office of the microcredit organization issuing the loan are reflected. Analytical Accounting: Is maintained in separate personal accounts for settlements with the Head Office and branches.

16104 Funds Received from Head Office and/or Branches — Other Assets

Definition of the Account: Accounting is maintained for operations involving other assets within a single microcredit organization between branches and the Head Office and/or between branches, as well as for other assets (fixed assets, intangible assets, material valuables) issued to the Head Office and/or branches. For this account, 22205 — "Funds Payable to Head Office and/or Branches — Other Assets" is the mutually corresponding account. The turnover and balance sums of these accounts must be equal to each other, and there must be no balance in these accounts in the consolidated balance sheet. On the Debit side of the Account: The amount of other assets handed over to the Head Office and/or branches is reflected. On the Credit side of the Account: Debts payable to the Head Office and/or branches within specified periods are reflected. Analytical Accounting: Is maintained in separate personal accounts for the Head Office and branches;

Fill in after the definition of account code "19925" with the definition of account code "19927" with the following content:

"19927 DEFERRED EXPENSES DUE TO CHANGES IN FOREIGN CURRENCY EXCHANGE RATES"

Definition of the Account: The difference arising from the revaluation of assets and liabilities expressed in foreign currency according to the Central Bank rate, in case of a decrease in the foreign currency exchange rate against the sum, is taken into account. On the Debit side of the Account: The accumulated sum of the negative difference arising as a result of the decrease in the foreign currency exchange rate is reflected. On the Credit side of the Account: The sum of the negative difference transferred to account 55301 — "Loss Incurred Due to Changes in Foreign Currency Exchange Rates" is reflected. Analytical Accounting: Is maintained in separate personal accounts;

In the definition of account code "19931" in the "Name" column:
Replace the word "deferred" ("uzaytirilgan") in the first line with the word "postponed" ("kechirilgan"); Replace the words "deferred" ("uzaytirilgan"), "to revenue (profit)" ("daromad (foydasiga)"), "revenue (profit)" ("daromad (foyda)ni") and "revenue (profit)" ("daromad (foyda)") in the second line with the words "postponed" ("kechirilgan"), "to profit" ("foydasiga"), "profit" ("foydani") and "profit" ("foyda") respectively;

Fill in after the definition of account code "22104" with the definitions of account codes "22200", "22203" and "22205" with the following content:

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No. 26 (474) — 19 — Article 271

"22200 FUNDS PAYABLE TO HEAD OFFICE AND/OR BRANCHES

22203 Funds Payable to Head Office and/or Branches — Financial Funds

Definition of the Account: Accounting is maintained for operations involving financial funds between the Head Office of a microcredit organization and its branches located in the territory of the Republic of Uzbekistan, or between branches of a single microcredit organization. This account is considered a mutually linked account for account 16102 — "Funds Received from Head Office and/or Branches — Financial Funds". The turnover and balance sums of these accounts must be equal to each other, and there must be no balance in these accounts in the consolidated balance sheet.

On the Credit side of the Account: Amounts payable to the Head Office and/or branches are reflected.

On the Debit side of the Account: The amount of financial funds received from the Head Office and/or branches is reflected.

Analytical Accounting: Is maintained in separate personal accounts for settlements with the Head Office and branches.

22205 Funds Payable to Head Office and/or Branches — Other Assets

Definition of the Account: Accounting is maintained for operations involving other assets (fixed assets, intangible assets, material valuables) between the Head Office and branches and/or between branches of a single microcredit organization. This account is the mutually corresponding account for 16104 — "Funds Received from Head Office and/or Branches — Other Assets". The turnover and balance sums of these accounts must be equal to each other, and there must be no balance in these accounts in the consolidated balance sheet.

On the Credit side of the Account: The amount of other assets accepted by the Head Office and/or branches is reflected.

On the Debit side of the Account: Amounts payable to the Head Office and/or branches within specified periods are reflected.

Analytical Accounting: Is maintained in separate personal accounts for the Head Office and branches";

The definition of account code "22502" shall be stated in the following edition:

"22502 Accrued Profit Taxes

Definition of the Account: Accounting is maintained for profit taxes (profit, social infrastructure development tax, and other similar taxes in accordance with legislation) accrued in the current period but not yet paid, and for the single tax payment (for single tax payers).

On the Credit side of the Account: The amount of accrued current profit taxes and single tax payment (for single tax payers) is reflected.

Collection of Legislation of the Republic of Uzbekistan, 2011 ---