Regulatory Alerts2019-01-01
Decision on the Chart of Accounts of the Central Bank of Montenegro
The Council of the Central Bank of Montenegro adopted this decision to establish the official Chart of Accounts, mandating standardized recording of all assets, liabilities, capital, income, and expenses in compliance with International Accounting and Financial Reporting Standards. The document defines nine primary account classes covering cash, securities, gold, derivatives, loans, deposits, financial and operating income and expenses, capital reserves, and off-balance sheet items, while specifying exact debit and credit recording rules for each sub-group. This regulation repeals the previous 2011 and 2015 chart decisions, takes effect eight days after publication in the Official Gazette, and applies retroactively to financial operations beginning 1 January 2018.