Resolution of the Board of the Central Bank of the Republic of Uzbekistan, registered on October 12, 2007, Registration No. 1728

Date of Entry into Force

22.10.2007

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30.06.2020

25.10.2019

08.04.2019

21.09.2015

13.06.2011

22.10.2007

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Document lost its force on 30.06.2020

[ OKOZ: 1. 07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.22.00.00 Lending / 07.22.06.00 Specific Types of Lending / 07.22.06.02 Microcredit. Lending to Small Business Entities; 2. 07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.29.00.00 Accounting. Financial Reporting / 07.29.07.00 Accounting in Specific Industries] [ TSZ: 1. Finance / Accounting]

RESOLUTION OF THE BOARD OF THE CENTRAL BANK OF THE REPUBLIC OF UZBEKISTON

ON APPROVING THE GUIDELINES ON MAINTAINING ACCOUNTING RECORDS IN MICROCREDIT ORGANIZATIONS

[Registered by the Ministry of Justice of the Republic of Uzbekistan on October 12, 2007, No. 1728]

This resolution has lost its force based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated June 27, 2020, No. 15/9 "On Approving the Guidelines on the Procedure for Maintaining Accounting Records in Non-Bank Credit Institutions" (Registration No. 3263, 27.06.2020).

Based on the Laws of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan", "On Microcredit Organizations", and "On Microfinancing", the Board of the Central Bank resolves:

1. Approve the "Guidelines on Maintaining Accounting Records in Microcredit Organizations" in accordance with the Appendix.

2. This resolution enters into force ten days after the date of its state registration by the Ministry of Justice of the Republic of Uzbekistan.

3. Control over the execution of this resolution is entrusted to the Deputy Chairman of the Central Bank M.Y. Eshmatov.

Chairman of the Board of the Central Bank F. MULLAJONOV

Tashkent city, September 8, 2007, No. 23/1

APPENDIX To the Resolution of the Board of the Central Bank of September 8, 2007, No. 23/1

GUIDELINES ON MAINTAINING ACCOUNTING RECORDS IN MICROCREDIT ORGANIZATIONS

These Guidelines establish the rules for mandatory accounting and reporting for microcredit organizations in accordance with the Laws of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan", "On Microcredit Organizations", "On Microfinancing", and "On Accounting".

Section I. General Provisions

1. These Guidelines establish the principles of financial accounting in microcredit organizations, rules for recording and controlling financial transactions, the structure of the financial apparatus, methods for organizing customer service and document circulation, and the procedure for preparing financial reporting based on international standards. (Paragraph 1 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011, No. 13/2 (Registration No. 1728-1, 03.06.2011) — UR QHT, 2011, No. 22-23, Article 239)

2. The instructions established by these Guidelines and their appendices regarding the implementation, documentation, recording, and control of accounting operations are mandatory for all microcredit organizations. The procedure for document circulation within a microcredit organization may be established taking into account the specific features of the organization's work, provided that the basic rules envisaged in these Guidelines are followed.

A microcredit organization must develop, approve, and apply its accounting policy in accordance with the legislation of the Republic of Uzbekistan and these Guidelines.

3. Reflection of accounting operations of microcredit organizations in accounts is carried out based on the Chart of Accounts for Accounting in Microcredit Organizations presented in Appendix 1 to these Guidelines (hereinafter referred to as the Chart of Accounts in the text). (Paragraph 3 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated September 14, 2019, No. 22/6 (Registration No. 1728-4, 25.10.2019) — National Database of Legislative Acts, 25.10.2019, 10/19/1728-4/3958)

4. In cases not provided for, accounting is maintained using the double-entry method. In this regard, counter-accounts exist for each main account or group of main accounts, which are used solely for accounting purposes. Main accounts are reflected in the balance sheet or other financial reports, while information from counter-accounts is not displayed.

5. The head of the executive body of the microcredit organization and the chief accountant are responsible for ensuring compliance with the requirements established by these Guidelines for maintaining accounting records and the timely preparation of financial reports.

Section II. Organization of Accounting Work and Document Circulation in Microcredit Organizations

Chapter 1. Structure of the Accounting Apparatus of a Microcredit Organization

6. The accounting apparatus includes employees who perform accounting of operations on accounts, documentation, and control of accounting documents. This structure is managed by the chief accountant of the microcredit organization. It operates based on the Regulation on the Chief Accountant of Microcredit Organizations (Appendix 1). (Paragraph 6 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated September 14, 2019, No. 22/6 (Registration No. 1728-4, 25.10.2019) — National Database of Legislative Acts, 25.10.2019, 10/19/1728-4/3958)

7. In each microcredit organization, job descriptions for employees must be developed and approved. Copies of these job descriptions are familiarized with the respective employees and signed by the chief accountant. The list of main duties of the accounting apparatus is presented in Appendix 2 to these Guidelines.

8. Specific tasks are assigned to accounting staff in accordance with their job responsibilities.

9. Control over cash disbursement operations is carried out by a specially appointed accountant-controller. If this position is not envisaged in the microcredit organization, it is carried out by the chief accountant or their deputy based on the order of the head of the microcredit organization. At the same time, a cash disbursement journal must be maintained for cash disbursement operations in the microcredit organization.

10. The management of organizing the recording of microcredit organization operations in accounting documents, preparing reports, and controlling the storage of accounting and reports is entrusted to the chief accountant. In the absence of a chief accountant, it may be entrusted to the deputy chief accountant based on the order of the head of the microcredit organization.

Chapter 2. Organization of the Working Day and Document Circulation

11. Accounting documents related to microfinancing must be documented by accounting staff during the working day, and operations performed based on these documents must be reflected in accounting accounts on the same day.

12. In each microcredit organization, a document circulation schedule is established, approved by the head of the organization. The schedule specifies the procedure for passing documents through all review stages.

Chapter 3. Organization of Internal Control

13. When financial transactions are performed, it must be ensured that they are properly documented and that the integrity of funds and valuables is controlled accordingly.

14. Cash operations in microcredit organizations are carried out in accordance with current legislation.

15. Cash disbursement operations are documented by a cash disbursement order (Appendix 3) and are centrally controlled in the manner specified in Paragraph 9 of these Guidelines. The chief accountant checks the authenticity of the operations performed, their compliance with legislative acts, and the correct documentation of documents. The cash disbursement order is signed by the executive director and the chief accountant.

The procedure for directing cash documents to the cash desk for payment is established by the executive director and the chief accountant of the microcredit organization.

16. Cash receipt operations and the deposit of funds into the microcredit organization's cash account must be carried out only after the actual arrival of cash in the cash desk.

In this case, the cash receipt order (Appendix 4) is documented in one copy and given to accounting for reflection in accounts and posting in daily documents. The receipt confirming the acceptance of cash is signed by the chief accountant or another authorized person and the cashier, confirmed by the stamp of the microcredit organization's cash desk, and returned to the person depositing the funds. (Second sentence of Paragraph 16 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated March 16, 2019, No. 5/9 (Registration No. 1728-3, 08.04.2019) — National Database of Legislative Acts, 08.04.2019, 10/19/1728-3/2896)

17. The chief accountant of the microcredit organization must ensure the proper storage of seals, stamps, and forms to prevent their loss or misuse. Based on the order of the head of the microcredit organization, the chief accountant maintains a register of seals. This book documents seals and corner seals with the signature of the accountant and cashiers storing them, their positions, and the impression of attached corner seals.

Section III. General Rules of Accounting

Chapter 1. Accounting Books

18. General and Auxiliary books (synthetic and analytical accounting) are used for maintaining accounting records in microcredit organizations.

19. The General Book (Appendix 5) is a group of second-level balance sheet accounts corresponding to the nomenclature of the second-level balance sheet account plan, reflecting aggregated data used in preparing financial reports (balance sheet, income and expense statement, etc.). (Paragraph 19 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011, No. 13/2 (Registration No. 1728-1, 03.06.2011) — UR QHT, 2011, No. 22-23, Article 239)

20. The General Book in microcredit organizations is maintained in the form of a daily balance. In addition, the General Book may consist of information on the turnover and balances of balance sheet accounts. General Book data is formed based on the data of the following auxiliary books:

— book for recording funds (Appendix 6);

— book for recording microcredits, microleasing, microloans, and other microfinancing operations (Appendix 7);

— book for recording settlements with counterparties (Appendix 8);

— book for recording low-value and fast-wearing items (Appendix 9);

— book for recording labor compensation (Appendix 10);

— book for recording expenses of the reporting period (Appendix 11);

— book for recording fixed assets and intangible assets (Appendix 12);

— cash receipt and cash disbursement books (Appendices 13, 14).

cash book (Appendix 17). (Paragraph 20 supplemented by a footnote based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011, No. 13/2 (Registration No. 1728-1, 03.06.2011) — UR QHT, 2011, No. 22-23, Article 239)

201. General and auxiliary books must be maintained separately for each month according to second-level balance sheet accounts corresponding to the nomenclature of the account plan.

General and auxiliary books may be maintained via software, except for the cash book. In this case, general and auxiliary books (cash receipt and disbursement books daily) are copied to paper, posted separately for each month in chronological order, numbered in ascending order, and signed by the head of the microcredit organization and the chief accountant, indicating the number of pages. (Paragraph 201 added based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011, No. 13/2 (Registration No. 1728-1, 03.06.2011) — UR QHT, 2011, No. 22-23, Article 239)

21. All daily operations are reflected in the Auxiliary Book in chronological order. The following primary accounting documents serve as the source for the Auxiliary Book:

— cash receipt order (Appendix 4);

— cash disbursement order (Appendix 3). See previous edition. (Fourth sentence of Paragraph 21 removed based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011, No. 13/2 (Registration No. 1728-1, 03.06.2011) — UR QHT, 2011, No. 22-23, Article 239)

— payment order (in the generally accepted form). See previous edition. (Sixth sentence of Paragraph 21 removed based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011, No. 13/2 (Registration No. 1728-1, 03.06.2011) — UR QHT, 2011, No. 22-23, Article 239)

— other primary documents.

22. To simplify the maintenance of the Auxiliary Book and provide additional control, cash operations accounting is maintained in cash receipt and cash disbursement books. At the end of the day, balances in the cash receipt and disbursement books are compared with the cash desk. Data in these books is aggregated separately for each account and transferred to the auxiliary book. Cash documents are posted separately and stored in the cash desk. (Paragraph 22 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011, No. 13/2 (Registration No. 1728-1, 03.06.2011) — UR QHT, 2011, No. 22-23, Article 239)

23. All pages of the microcredit organization's cash book are numbered, stitched with thread, and confirmed by the signature of the head of the executive body of the microcredit organization and the chief accountant, as well as the stamp of the microcredit organization.

Entries in the cash book pages are made in two copies. The second copy of the cash book pages is tear-off and serves as the cashier's report. Both pages of the cash book are numbered identically. Every day, at the end of the working day, the cashier calculates the summary of operations for the day, calculates the cash balance for the next day, and submits the torn-off second page as the cashier's report to accounting along with cash receipt and disbursement documents, having it signed in the cash book. (Paragraph 23 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011, No. 13/2 (Registration No. 1728-1, 03.06.2011) — UR QHT, 2011, No. 22-23, Article 239)

Chapter 2. Accounting Period

24. The accounting period includes the sequential stages of the accounting process starting from the analysis of financial transactions up to the preparation of financial reports and closing accounts.

The accounting period consists of the following stages:

a) documentation of primary documents (cash receipt order, cash disbursement order, and other documents); (Third sentence of Paragraph 24 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011, No. 13/2 (Registration No. 1728-1, 03.06.2011) — UR QHT, 2011, No. 22-23, Article 239)

b) registration of operations in auxiliary books;

c) transfer of total amounts from auxiliary books to the General Book at the end of the month;

d) preparation of the accounting balance at the end of the month;

e) preparation of financial reporting based on the accounting balance;

f) closing profit and loss accounts of the microcredit organization at the end of the reporting year;

g) preparation of annual financial reports.

Chapter 3. Correction of Errors in Accounting

25. No corrections are allowed in General and Auxiliary accounting books. The use of correcting liquids, as well as erasing and correcting sums, is prohibited.

26. Detected errors must be corrected based on correction orders entered into the accounts where the errors were made using reverse entries (storno method).

27. A correction order is prepared in two copies:

a) the first copy serves as the primary document confirming the entry;

b) the second copy is posted in the register of correction orders.

28. The text of the correction order must indicate when and in which document the error was made; if based on an application submitted at the debtor's initiative, a reference to the application is included. This application is stored together with primary documents.

29. On the reverse side of the second copy of the correction order, and in the register of orders, the full name and position of the person who made the error are indicated. The register of orders is kept by the chief accountant.

30. In the credit card or personal account where the sum was subsequently corrected by storno, the entry "Storned" must be placed against the erroneous entry, along with the date of correction and the number of the correction order. This record is confirmed by the signature of the chief accountant or their deputy who signed the correction order.

Section IV. Accounting of Accounting Operations in Microcredit Organizations

Chapter 1. General Provisions

31. Microcredit organizations have the right to open deposit accounts and other bank accounts in banks in the manner established by legislative acts.

The procedure for opening personal accounts for customers for microfinance services and internal economic operations in microcredit organizations is carried out in accordance with Appendix 20 to these Guidelines.

32. After the contract for providing microcredit (microleasing, microloan, consumer credit) between the microcredit organization and the customer enters into force, a personal account for the customer must be opened without delay from the next working day. In this regard, the microcredit organization opens a separate credit card for each borrower for each microcredit (microleasing, microloan, consumer credit). (Paragraph 32 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011, No. 13/2 (Registration No. 1728-1, 03.06.2011) — UR QHT, 2011, No. 22-23, Article 239)

Chapter 2. Accounting of Microcredit and Microloan Operations

33. The amount of microcredits provided to individual entrepreneurs and legal entities for business activities, and microloans provided to individuals by microcredit organizations is determined by legislation.

34. When a microcredit organization provides microcredits to legal entities and individual entrepreneurs, and microloans to individuals, a paper credit card is documented for each borrower for each microcredit and microloan, on which accounting of operations performed on microcredits and microloans is maintained. Accounting of credit cards and operations on microcredits and microloans performed on them may be carried out via software.

The credit card must indicate:

the first name, last name, and patronymic of the borrower individual, the name of the borrower legal entity;

personal account number;

passport or other identity document information of the borrower individual, information on the certificate of state registration of the borrower legal entity or individual entrepreneur;

residence of the borrower individual, location of the borrower legal entity, and their contact information;

information on the security of obligations;

information on guarantors, including their passport or other identity document information, residence (location), and contact information;

the purpose of the microcredit or microloan;

information on the terms of the microcredit or microloan;

information on accrued and paid interest on the microcredit or microloan;

information on repayment amounts for the microcredit or microloan;

information on payment delays. (Paragraph 34 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011, No. 13/2 (Registration No. 1728-1, 03.06.2011) — UR QHT, 2011, No. 22-23, Article 239)

35. When performing operations on the provision of microcredits and microloans, the chief accountant:

opens a separate personal account for each borrower for each microcredit (microloan) contract;

confirms the performance of operations on the provision of microcredits (microloans) and corresponding entries.

Microcredit (microloan) contracts are stored in accounting under the responsibility of the chief accountant. (Paragraph 35 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011, No. 13/2 (Registration No. 1728-1, 03.06.2011) — UR QHT, 2011, No. 22-23, Article 239)

36. The provision of funds to the borrower is carried out in accordance with the procedure for documenting the provision of funds and accounting as per these Guidelines.

In this case, when cash funds are provided for microcredits and microloans, the following accounting entry is made:

Debit Personal loan account corresponding to the microcredit and microloan;

Credit 10101 — "Funds in Cash" account.

When microcredits and microloans are provided to the customer in non-cash form, the following accounting entry is made:

Debit Personal loan account corresponding to the microcredit and microloan;

Credit 10503 — "Deposits Held for Collection from Banks" account.

37. The repayment of microcredits and microloans, accounting for funds in accounts, and interest calculation are carried out in accordance with the procedure for documenting incoming funds and accounting as per these Guidelines.

38. When the principal debt and accrued interest on microcredits and microloans are settled in cash, the following entry is made:

Debit 10101 — "Funds in Cash" account;

Credit Personal loan account corresponding to the microcredit or microloan;

Credit 163** — Corresponding account for accrued interest to be received on the microcredit or microloan.

Similarly, when the principal debt and accrued interest on microcredits and microloans are settled in non-cash form, the following entry is made:

Debit 10503 — "Deposits Held for Collection from Banks" account;

Credit Personal loan account corresponding to the microcredit or microloan;

Credit 163** — Corresponding account for accrued interest to be received on the microcredit or microloan.

39. The amount of accrued interest is calculated based on the annual interest rate set by the microcredit organization for different types of microcredits or microloans. For interest calculation, one year is accepted as 365 (366) days. Interest is calculated based on the actual number of days starting from the date the microcredit or microloan was provided (including the day the microcredit or microloan was provided) or based on the last day of interest repayment.

The sum of the unpaid balance of the principal debt on the credit or loan = Annual Interest Rate X Number of Days

---

365 (366) (Paragraph 39 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011, No. 13/2 (Registration No. 1728-1, 03.06.2011) — UR QHT, 2011, No. 22-23, Article 239)

40. Accrued interest is calculated daily and reflected with the following accounting entry:

Debit 163** — Corresponding account for accrued interest to be received on the microcredit or microloan;

Credit 42000—44500 — Corresponding account for interest income on microcredits and microloans.

41. If the repayment of the principal sum or interest on a microcredit or microloan is delayed by 60 days or more, and interest calculation on such microcredits and microloans in balance sheet accounts is stopped, all accrued but uncollected interest must be written off with the following accounting entry:

Debit 4200–4500 — Interest income on microcredits and microloans in the corresponding account;

Credit 163** — The corresponding account for accrued interest to be received on a microcredit or microloan.

In addition, the following accounting entry is made to reflect the amount of such interest in off-balance sheet accounts:

Debit 91501 — "Accrued interest on issued microloans, microcredits, and microleasing" account;

Credit 96335 — "Counter-account for interest on assets and brokerage fees" account.

42. After interest is derecognized from the balance sheet, the subsequent calculation of interest may generally be carried out only in off-balance sheet accounts 91501 — "Accrued interest on issued microloans, microcredits, and microleasing" and 91505 — "Interest and brokerage fees on other assets" for a period not exceeding 3 years. In this case, all expired interest may be included in income only after the principal amount of the loan has been fully covered and paid.

When returning previously derecognized and off-balance sheet accrued interest:

Debit 96335 — "Counter-account for interest on assets and brokerage fees" account;

Credit 91501 — "Accrued interest on issued microloans, microcredits, and microleasing" account.

43. Transfers to the reserve for covering potential losses on microcredits and microloans must be carried out at the expense of the microcredit organization through account 56802 — "Assessment of potential losses on microloans and microcredits" and reflected in the "Report on Profits and Losses" for the current period:

Debit 56802 — "Assessment of potential losses on microloans and microcredits" account;

Credit The corresponding account of the reserve for covering potential losses on microcredits and microloans (counter-asset).

If the transfers made by the microcredit organization to the reserve for covering potential losses are less than the established requirements, additional transfers are carried out at the expense of the microcredit organization in the period in which this situation was identified through account 56802 — "Assessment of potential losses on microloans and microcredits" and reflected in the "Report on Profits and Losses" for the current period.

When reserves formed in excess of the established requirements by the microcredit organization are reduced, as well as when funds are returned on the asset for which the reserve was formed by the debtor, the excess reserves are transferred to account 56802 — "Assessment of potential losses on microloans and microcredits" (if the reserve was created in the reporting year) or to account 45921 — "Return of derecognized funds" (if the reserve was created in a year prior to the reporting year) and reflected in the "Report on Profits and Losses" for the current period. (Paragraph 43 was supplemented with the fourth and fifth paragraphs based on Resolution No. 13/2 of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari Ma'lumotlari Milliy Bazasi (National Database of Legislative Acts of the Republic of Uzbekistan), 2011, No. 22-23, Art. 239)

44. Derecognition of microcredits and microloans from the corresponding reserves is carried out with the following entry:

Debit The corresponding account of the reserve for covering potential losses on microcredits and microloans (counter-asset);

Credit The corresponding personal account of the microcredit or microloan. (The third paragraph of Paragraph 43 was amended in the edition of Resolution No. 13/2 of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari Ma'lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

In this case, the subsequent accounting of the asset derecognized from the reserve is maintained in account 95413 — "Derecognized microloans, microcredits, and microleasing". The asset derecognized from the reserve and the interest accrued on it are maintained in off-balance sheet "Off-balance sheet items" accounts for at least three years, and the microcredit organization must take appropriate measures to collect them. The microcredit organization must send a demand letter to the debtor regarding the repayment of debt and copies from the relevant "Off-balance sheet items" accounts on a monthly basis for the asset derecognized from the reserve and the interest accrued on it.

These demand letters and copies serve as the basis for applying to the court for the collection of debt. If the debt is not covered as a result of the measures taken, the asset derecognized from the reserve and the interest accrued on it are derecognized by the microcredit organization in the manner established by the microcredit organization. (Paragraph 44 was supplemented with the fourth and fifth paragraphs based on Resolution No. 13/2 of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari Ma'lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

45. When the principal debt and interest on microcredits and microloans previously derecognized from the balance sheet are collected in cash or in non-cash form by transferring funds, the following accounting entries are made: (The first paragraph of Paragraph 45 was amended in the edition of Resolution No. 13/2 of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari Ma'lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

Debit 10101 — "Cash in the cash desk" or 10503 — "Deposits held in banks until withdrawn" account; (The second paragraph of Paragraph 45 was amended in the edition of Resolution No. 13/2 of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari Ma'lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

Credit 45921 — "Return of derecognized funds" account;

Credit 42000–44500 — Interest income on microcredits and microloans in the corresponding account.

For the amount of microcredits and microloans previously derecognized in off-balance sheet accounts (principal debt):

Debit 96397 — "Counter-account for other off-balance sheet accounts";

Credit 95413 — "Derecognized microloans, microcredits, and microleasing".

Chapter 3. Accounting for Microleasing Operations

3.1. Accounting for Microleasing in the Microcredit Organization as Lessor

46. The accounting for assets provided by the microcredit organization for microleasing is maintained in account 15600 — "Microleasing (financial lease)".

47. The initial recognition of the debtor's debt for assets being provided for microleasing by the microcredit organization is carried out at the start of the term of the microleasing contract. In this case, the microcredit organization recognizes the sum of expenses related to the purchase of the microleasing object provided for lease, its delivery to the lessee, and bringing it to a condition ready for use as an asset on its balance sheet. (Paragraph 47 was amended in the edition of Resolution No. 13/2 of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari Ma'lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

48. If the microcredit organization pays the supplier in advance for the microleasing object and the microleasing object is delivered directly to the lessee, the microcredit organization performs the following accounting entries based on the acceptance certificate: (The first paragraph of Paragraph 48 was amended in the edition of Resolution No. 13/2 of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari Ma'lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

a) Debit 19909 — "Account for funds paid for goods, materials, and services";

Credit 10503 — "Deposits held in banks until withdrawn";

b) Debit 15607 — "Microleasing";

Credit 19909 — "Account for funds paid for goods, materials, and services".

49. Initial direct expenses incurred by the microcredit organization and payable by the lessee in accordance with the microleasing contract are added to the value of the microleasing object.

If the above expenses are not covered by the lessee in accordance with the microleasing contract, such expenses are recognized as expenses of the relevant reporting period in which they arose.

50. After the initial recognition of the debtor's debt for assets being provided for microleasing by the microcredit organization, subsequent accounting consists of calculating the principal debt amount (initially recognized amount) to be paid by the lessee for microleasing and the interest on it. Subsequent accounting also includes assessing the microleasing object. (Paragraph 50 was amended in the edition of Resolution No. 13/2 of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari Ma'lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

51. The income of the microcredit organization is calculated in the relevant reporting periods in accordance with the schedule of lease payments, regardless of the implementation of lease payments by the lessee.

52. Interest income on microleasing by the microcredit organization is calculated daily and the following accounting entries are made: (Paragraph 52 was amended in the edition of Resolution No. 13/2 of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari Ma'lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

Debit 16323 — "Accrued interest to be received on microleasing (financial lease)";

Credit 45105 — "Interest income on microleasing".

53. When lease payments are received, including the amount of the returned principal debt and the amount of interest income, the following accounting entries are made:

Debit 10503 — "Deposits held in banks until withdrawn";

Credit 15607 — "Issued microleasing";

Credit 16323 — "Accrued interest to be received on microleasing (Financial Lease)".

54. After the expiration of the microleasing contract term, if the conditions for paying lease payments are fully fulfilled, the balances of accounts 15607 — "Issued microleasing" and 16323 — "Accrued interest to be received on microleasing (Financial Lease)" will be equal to zero.

The balances in these accounts will also be equal to zero if the microleasing object is purchased by the lessee before the expiration of the microleasing contract term.

55. If the microleasing object is returned by the lessee due to a violation of the terms of the microleasing contract, the lessor microcredit organization accepts it onto its balance sheet with the following accounting entries until the fate of this asset is resolved:

Debit 16701 — "Real estate and other private property";

Credit 15607 — "Issued microleasing".

56. If lease payments are not implemented on time by the lessee, the asset is given a status of non-accrual, and the subsequent accounting of the asset is carried out in accordance with paragraphs 41-42 of these Guidelines.

57. Transfers to the reserve for covering potential losses on microleasing operations must be carried out at the expense of the microcredit organization through account 56838 — "Assessment of potential losses on microleasing (financial lease)" and reflected in the "Report on Profits and Losses" for the current period:

Debit 56838 — "Assessment of potential losses on microleasing (financial lease)" account;

Credit 15699 — "Reserve for covering potential losses on microleasing (counter-asset)".

58. Derecognition of microleasing from the corresponding reserves is carried out with the following entry:

Debit 15699 — "Reserve for covering potential losses on microleasing (counter-asset)";

Credit The corresponding microleasing account.

59. When the principal debt and interest on microleasing previously derecognized from the balance sheet are collected in cash, the following accounting entry is made:

Debit 10101 — "Cash in the cash desk";

Credit 45921 — "Return of derecognized funds";

Credit 45100 — "Interest income on microleasing (financial lease)".

Similarly, when the principal debt and interest on microleasing derecognized from the balance sheet are collected in non-cash form, the following accounting entry is made:

Debit 10503 — "Deposits held in banks until withdrawn";

Credit 45921 — "Return of derecognized funds";

Credit 45100 — "Interest income on microleasing (financial lease)".

For the amount of microleasing previously derecognized (principal debt):

Debit 96397 — "Counter-account for other off-balance sheet accounts";

Credit 95413 — "Derecognized microloans, microcredits, and microleasing".

3.2. Accounting for Leasing (Microleasing) in the Microcredit Organization as Lessee (The name of paragraph 3.2 was amended in the edition of Resolution No. 13/2 of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari Ma'lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

60. If microcredit organizations participate as lessees in microleasing contracts, the accounting for assets leased is maintained in account 16515 — "Right to lease objects and improve them", and liabilities arising from leasing are maintained in the corresponding relevant accounts of account 22100 — "Liabilities for leasing (financial lease)".

61. Microleasing is recognized as both an asset and a liability in the financial statements of the microcredit organization as the lessee. This initial recognition is carried out at the start of the microleasing contract term. In this case, the microcredit organization as the lessee reflects the microleasing object on its balance sheet at the lower of the net investment value or its fair value.

62. The following accounting entry is performed upon initial recognition of microleasing:

Debit 16515 — "Right to lease objects and improve them";

Credit The corresponding account of 22100 — "Liabilities for leasing (financial lease)".

63. Expenses related to the purchase, delivery, or bringing to a condition suitable for use for a specific purpose of the microleasing object incurred by the microcredit organization as the lessee are added to the value of the microleasing object.

64. The microleasing object must be reflected on the balance sheet of the microcredit organization as the lessee as separate items of assets and liabilities. It is not permitted to show the liability for microleasing by deducting it from the asset amount (as a counter-asset account).

65. Subsequent accounting by the microcredit organization as the lessee after the initial recognition of microleasing consists of calculating the principal debt amount (initially recognized amount) for the liability and the payment of interest on microleasing.

Subsequent accounting also includes assessing the microleasing object by the microcredit organization as the lessee, performing depreciation allocations, and other expenses stipulated in the contract, since all risks related to microleasing have passed to the lessee.

66. Expenses of the microcredit organization as the lessee for microleasing interest are not reflected in accounting upon initial recognition or when taking the object into lease.

67. Interest expenses on microleasing by the microcredit organization as the lessee are calculated daily in accordance with the schedule of lease payments, and the following accounting entries are made: (The first paragraph of Paragraph 67 was amended in the edition of Resolution No. 13/2 of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari Ma'lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

Debit 54401 — "Interest expenses on leasing (financial lease)". (The second paragraph of Paragraph 67 was amended in the edition of Resolution No. 22/6 of the Board of the Central Bank of the Republic of Uzbekistan dated September 14, 2019 (Registration No. 1728-4, 25.10.2019) — National Database of Legislative Acts of the Republic of Uzbekistan, 25.10.2019, No. 10/19/1728-4/3958)

68. Lease payments by the microcredit organization as the lessee are implemented through the following accounting entries:

Debit 22408 — "Accrued interest on leasing (financial lease)";

Debit 22100 — "Liabilities for leasing (financial lease)";

Credit 10503 — "Deposits held in banks until withdrawn" (or 10101 "Cash in the cash desk").

69. Depreciation allocations for the microleasing object by the microcredit organization as the lessee are carried out based on the requirements of paragraph 99 of these Guidelines, and the following accounting entry is made:

Debit 56626 — "Amount of depreciation for the right to lease objects and improve them";

Credit 16519 — "Accumulated depreciation for the right to lease objects and improve them (counter-asset)".

If the transfer of ownership of the microleasing object is not stipulated in the microleasing contract, depreciation for the microleasing object is calculated for the period equal to the lesser of the term of the microleasing contract or the useful life of the asset. (Paragraph 69 was supplemented with the fourth paragraph based on Resolution No. 13/2 of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari Ma'lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

70. The sum of the depreciation allocation for the microleasing object and financial expenses (interest on microleasing) of the microcredit organization as the lessee for a specific period may not be equal to the sum of lease payments to be paid in this period.

71. Annual revaluation of the microleasing object is carried out by the microcredit organization as the lessee in the manner established by legislation.

72. After the implementation of the final payments by the microcredit organization as the lessee, the balances of personal accounts (analytical accounts) opened in balance sheet accounts 16515, 16519, 22100, and 22408 for these leasing operations will be equal to zero, and ownership of the property transfers to the lessee.

The transfer of the microleasing object to the microcredit organization as the lessee is carried out through the following accounting entries:

a) Debit 16519 — "Accumulated depreciation for the right to lease objects and improve them (counter-asset)";

Credit 16515 — "Right to lease objects and improve them";

b) Debit 16500 — The corresponding account of "Fixed Assets";

Credit 165** — The corresponding account of accumulated depreciation of fixed assets (counter-asset).

73. If the microcredit organization as the lessee is granted the right to purchase the microleasing object at the end of the microleasing contract term at a price lower than its fair value on the date of sale, the purchase is carried out through the following accounting entry:

Debit 22100 — "Liabilities for leasing (financial lease)";

Credit 10503 — "Deposits held in banks until withdrawn" (or 10101 "Cash in the cash desk").

After the account 22100 — "Liabilities for leasing (financial lease)" is closed, ownership of the microleasing object transfers to the lessee, and the accounting entries specified in paragraph 72 are performed.

74. If the microleasing contract is terminated before its term of validity and the microleasing object is taken back by the lessor in the manner stipulated in the contract terms, the return of the microleasing object to the lessor is carried out at the amount of the unrecovered value of the microleasing object on the date the term of the microleasing contract was terminated, and the following accounting entries are made:

Debit 16519 — "Accumulated depreciation for the right to lease objects and improve them (counter-asset)";

Credit 16515 — "Right to lease objects and improve them".

75. The financial result (profit or loss) on the derecognition of the microleasing object is determined as the difference between the residual (balance) value of the microleasing object and the remaining debt according to the schedule of lease payments, taking into account the sum of expenses related to the derecognition of the microleasing object.

When determining the financial result (profit or loss) on the derecognition of the microleasing object, the increased amount of the value of the microleasing object in previous revaluations, i.e., the credit balance of account 30908 — "Increased value of revaluation relative to initial value" resulting from previous valuations, is added to the income from the exit of the microleasing object and simultaneously reduces the reserve capital for this account.

75-1. Accounting for leasing in the microcredit organization as the lessee is carried out in the manner established by paragraphs 60–75 of these Guidelines. (Paragraph 75-1 was introduced based on Resolution No. 13/2 of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari Ma'lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

Chapter 4. Accounting for Factoring Operations

76. Accounting for factoring operations is maintained in accordance with the "Chart of Accounts for Accounting in Microcredit Organizations".

77. To maintain accounting for payment documents for factoring operations, the microcredit organization opens a personal account in the off-balance sheet account 90966 — "Purchased Accounts Receivable — Factoring". The debit of this account reflects the total amount of purchased accounts receivable, and the credit reflects the amount of purchased accounts receivable fully paid by payers, which is derecognized.

78. After the contract on factoring (assignment of monetary claim) is signed by the parties, the microcredit organization — the financial agent — transfers funds to the client's main deposit account, deducting the discount amount.

79. The microcredit organization implements the transfer of funds to the client's main deposit account by payment order. The following accounting entries are made:

a) When funds for factoring are transferred to the client's account:

Debit 11101 — "Purchased Accounts Receivable — Factoring" — (for the total factoring amount);

Credit 11195 — "Discount on Purchased Accounts Receivable — Factoring (counter-asset)" — (for the discount amount);

Credit 10503 — "Deposits held in banks until withdrawn" — (for the difference between the total amount and the discount amount);

b) When funds for factoring are collected in the established manner:

Debit 10503 — "Deposits held in banks until withdrawn" (or 10101 "Cash in the cash desk");

Credit 11101 — "Purchased Accounts Receivable — Factoring";

c) When the discount amount for factoring is recognized as income:

Debit 11195 — "Discount on Purchased Accounts Receivable — Factoring (counter-asset)";

Credit 45217 — "Income on Purchased Accounts Receivable — Factoring".

80. In factoring operations, the client must stamp or write "Factoring" in the upper part of the payment order, and the microcredit organization — the financial agent — must indicate the number of the factoring account for the credit.

Chapter 5. Formalization and Accounting for the Issuance and Receipt of Funds

81. When issuing cash from the cash desk for microcredits, microloans, and other microfinance services to clients, the microcredit organization uses expense and income cash orders (Appendix 3).

82. For the provision of microfinance services, the accounting clerk prepares and formalizes an expense cash order in accordance with paragraph 15 of these Guidelines, based on the amount of cash being disbursed. (Paragraph 82, as amended by the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O‘zbekiston Respublikasi Qonunchilik Ma’lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

83. An expense cash order is submitted to the cashier only after the accounting clerk has signed it. It is prohibited to submit an expense cash order to the cashier through the person receiving the funds. (Paragraph 83, as amended by the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O‘zbekiston Respublikasi Qonunchilik Ma’lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

84. Upon receiving an expense cash order, the cashier must perform the following:

a) Call the person receiving the funds by the number of the expense cash order; See previous edition. (Sub-paragraph 'b' of Paragraph 84 was invalidated by the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O‘zbekiston Respublikasi Qonunchilik Ma’lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

b) Check that the expense cash order bears the signatures of officials authorized by the microcredit organization to approve payments, and verify that these signatures match the existing samples;

c) Verify that the amounts indicated in numbers and words in the document correspond to each other;

d) Verify that a signature confirming the receipt of funds is present in the document;

e) Check that there is information regarding the presentation of a passport or other document confirming the identity of the person receiving the funds;

f) Inspect the passport confirming the identity of the client and compare the information in the presented passport with the information in the order;

g) Prepare the amount of money indicated in the document, ask the person receiving the funds how much money they are receiving, compare the prepared amount of money with the expense cash order once again, hand it to the person receiving the funds, and sign the expense cash order.

85. The repayment of interest and other commission fees calculated on microcredits, microloans, microleasing, and other microfinance services by the borrower may be carried out in cash and non-cash forms.

86. The receipt of cash from clients of the microcredit organization for microcredits, microloans, microleasing, and other microfinance services is carried out based on receipt cash orders (Appendix 4).

When clients make payments in cash form for their obligations, the accounting clerk, in accordance with paragraph 16 of these Guidelines, formalizes a receipt cash order in one copy and reflects the operation on the debit of account 10101 — “Cash Funds in Cashier”. After that, the documents are submitted to the cashier with a signature in the receipt cash book. (Second sentence of Paragraph 86, as amended by the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O‘zbekiston Respublikasi Qonunchilik Ma’lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

87. Upon receiving receipt cash orders, the cashier must check the presence of the accounting clerk’s signature on them and its conformity with the samples kept by the cashier, verify that the client’s signature is present, and check that the amount indicated corresponds to the amount written in numbers and words. After that, the cashier must call the person depositing the funds and accept the cash by counting it one by one.

88. After receiving the funds, the cashier compares the amount indicated in the receipt cash order with the amount obtained upon recounting. If they match, the cashier signs the receipt, confirms it with the stamp of the microcredit organization’s cashier, and hands it to the person submitting the money. The receipt cash order is given to the accountant or another responsible employee maintaining the receipt cash book to be included in the daily documents at the end of the day. (Paragraph 88, as amended by the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 5/9 dated March 16, 2019 (Registration No. 1728-3, 08.04.2019) — National Database of Legislative Acts, 08.04.2019, No. 10/19/1728-3/2896)

89. The employee maintaining the receipt cash book reflects the receipt of cash funds in the receipt cash book based on receipt cash orders received from the cashier when cash funds are accepted into the cashier.

90. Entries in the cash books of the microcredit organization must be made immediately after the receipt and disbursement of funds, and then the cash balance for the account is calculated at the end of the day. This cash balance will be the opening balance for the next day. The balance of the cash book (Appendix 17) is compared with the availability of cash funds in the cashier at the end of the day. If a discrepancy is identified, the difference amount is posted to the debit of account 19908 — “Funds to be Recovered in Settlements with Employees of Microcredit Organizations” or to the credit of account 45994 — “Other Non-Interest Income”.

91. In the case of non-cash transfer of interest and other commission fees calculated on microcredits, microloans, microleasing, and other microfinance services by clients, the non-cash payment account is maintained based on a copy of the deposit statement from the bank’s account held by the microcredit organization until requested, and a copy of the payment order with the bank’s mark confirming that the payment was made. This operation is reflected on the debit of account 10503 — “Deposits Held by Banks Pending Withdrawal” of the microcredit organization.

92. When funds are received in non-cash form, the accounting clerk: (First sentence of Paragraph 92, as amended by the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O‘zbekiston Respublikasi Qonunchilik Ma’lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

compares the received funds in the microcredit organization’s account 10503 — “Deposits Held by Banks Pending Withdrawal” on the bank’s statement with the information on the transferred amount in the copy of the debtor’s payment order (bank receipt); See previous edition. (Third sentence of Paragraph 92 was removed by the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O‘zbekiston Respublikasi Qonunchilik Ma’lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

writes on the debtor’s credit card the date of the operation, the transferred amount, the balance, the amount of calculated interest, and the interest balance.

Chapter 6. Credits Payable

93. The amount of credits obtained by the microcredit organization from banks and other financial institutions is recorded in the Credits Payable account.

94. Separate personal accounts must be maintained for each obtained credit, where the date of obtaining the credit, all payments on the obtained credit, and the balance are recorded.

95. The principal part of the obtained credit is reflected in the “Others” column of the auxiliary credit book. In the case of partial or full repayment of the credit, the paid amounts are reflected in the debit part of the “Others” column of the auxiliary book.

96. The receipt of funds from the bank in accordance with the concluded credit contract is reflected by the following accounting entry:

Debit 10503 — “Deposits Held by Banks Pending Withdrawal”;

Credit The relevant account for Credits Payable.

Upon repayment of obtained credits:

Debit The relevant account for Credits Payable;

Credit 10503 — “Deposits Held by Banks Pending Withdrawal”.

97. Interest on Credits Payable and other obligations is calculated daily and the following accounting entries are made. (First sentence of Paragraph 97, as amended by the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O‘zbekiston Respublikasi Qonunchilik Ma’lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

Debit The relevant account for Interest Expenses on Credits Payable;

Credit 22410 — “Accrued Interest on Obtained Credits”.

Repayment of accrued interest:

Debit 22410 — “Accrued Interest on Obtained Credits”;

Credit 10503 — “Deposits Held by Banks Pending Withdrawal”.

Chapter 7. Accounting for Fixed Assets

98. Fixed assets in the activities of a microcredit organization are considered to be material assets intended for use for more than one year in the process of providing microfinance services, for leasing, or for administrative purposes.

Fixed assets include buildings, structures, equipment, computers, furniture, computing technology, vehicles, land purchased under right of use, library funds, objects of signaling and telephony not included in the cost of buildings under construction regardless of their value, and others.

Fixed assets are reflected in the balance sheet at their balance (residual) value. Fixed assets are reflected in the balance sheet at their initial (actual) value upon acceptance.

The initial value includes the sum of all expenses related to the purchase or construction (building construction and completion of construction) of a fixed asset, including paid taxes, customs duties and fees, as well as all other expenses directly related to bringing the asset to a condition suitable for its intended use, such as delivery, installation, mounting, and commissioning.

The initial value of fixed assets is periodically revalued. The value of fixed assets taking into account revaluation is called the restoration value. The sum of recognized assets in the accounting balance is also called the balance value. (Paragraph 98 was supplemented with the first and second sentences by the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O‘zbekiston Respublikasi Qonunchilik Ma’lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

98-1. Fixed assets purchased in foreign currency are reflected in the balance sheet in national currency at the Central Bank rate on the date of formalization of the customs cargo declaration and are not revalued due to changes in the exchange rate of foreign currency. (Paragraph 98-1 was introduced by the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 22/6 dated September 14, 2019 (Registration No. 1728-4, 25.10.2019) — National Database of Legislative Acts, 25.10.2019, No. 10/19/1728-4/3958)

99. Monthly depreciation on assets in use is calculated every month starting from the month following the month they were put into use. In this case, account 56600 — “Depreciation Expenses” is debited and the counter-asset account for accumulated depreciation is credited.

Depreciation is calculated by subtracting the salvage value from the initial value of the fixed asset within its useful life. The salvage value is considered to be the expected value from these fixed assets, determined by subtracting the costs associated with their disposal at the end of their useful life.

Depreciation may be calculated using the following methods:

1. Straight-line method;

2. Method proportional to the volume of work performed;

3. Accelerated method (declining balance method and sum-of-the-years-digits method).

100. The advance full or partial payment for the value of fixed assets is formalized by the following entries:

Debit 19909 — “Account for Funds Paid for Goods, Materials and Rendered Services”;

Credit 10503 — “Deposits Held by Banks Pending Withdrawal”.

Acquired fixed assets are reflected in the balance sheet by the following accounting entries:

Debit 165** — Relevant account for Fixed Assets or 16561 — “Fixed Assets in Warehouse”;

Credit 19909 — “Account for Funds Paid for Goods, Materials and Rendered Services”.

101. When fixed assets are received free of charge:

Debit 16561 — “Fixed Assets in Warehouse” or 165** — Relevant account for Fixed Assets;

Credit 30905 — “Property Received Free of Charge” (when received from founders) or 45994 — “Other Non-Interest Income” (when received from others). (Third sentence of Paragraph 101, as amended by the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O‘zbekiston Respublikasi Qonunchilik Ma’lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

102. All expenses related to construction, renewal, restoration, and modernization of fixed assets are accounted for in the “Unfinished Construction” account:

Debit 16505 — “Unfinished Construction”;

Credit 19909 — “Account for Funds Paid for Goods, Materials and Rendered Services”.

When buildings (structures) are ready for use, their value is transferred to account 16509 — “Buildings and Other Structures of Microcredit Organizations” based on the relevant acceptance certificate. If the construction or restoration cost estimate includes the purchase of furniture and equipment, their value is separately identified from the total value of the acceptance certificate and a full list is indicated. In this case, the following accounting entries are made:

a) For the amount of the building value:

Debit 16509 — “Buildings and Other Structures of Microcredit Organizations”;

Credit 16505 — “Unfinished Construction”;

b) For the amount of the furniture and equipment value:

Debit 16535 — “Furniture, Fixtures and Equipment”;

Credit 16505 — “Unfinished Construction”.

103. Revaluation of fixed assets is carried out regularly to adjust the initial value of fixed asset objects to their actual value. If there is an opportunity to determine the actual value with sufficient accuracy, microcredit organizations reflect all fixed assets within one group at their revalued amount. The revalued amount is the value of these objects after deducting the sum of accumulated depreciation and impairment losses incurred during the revaluation period.

104. When revaluing individual objects of fixed assets, all groups to which this object of fixed assets belongs are revalued. A group of fixed assets is a collection of assets of similar type and use in the microcredit organization. Objects within one group of fixed assets are revalued simultaneously.

105. All fixed assets under the organization’s control, including those under its economic management or operational control, as well as property leased to third parties and leased from third parties, property in use and not in use, property stored in conservation, prepared for derecognition but not yet formalized with the appropriate documents in the established manner, as well as unfinished construction objects and equipment intended for installation, must be revalued.

The value of land plots and objects of nature use is not revalued.

106. Revaluation is carried out independently by the microcredit organization or with the involvement of qualified evaluators — experts authorized to engage in valuation activities in accordance with legislation. The actual value of a fixed asset object is considered to be its market value. In the absence of information based on the study of comparable market prices confirming the actual value, the microcredit organization may estimate the actual value using methods based on income or depreciated value. See previous edition. (Paragraph 107 was invalidated by the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O‘zbekiston Respublikasi Qonunchilik Ma’lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

107. The following methods are used for revaluation of fixed assets:

108. Index method;

109. Direct revaluation method.

110. Index Method. In the index method of revaluation, the balance value of fixed assets and their accumulated depreciation as of the revaluation date are revalued using a known index. After that, the revalued value of the assets is compared with their balance value and accumulated depreciation, and the corresponding accounting entries are made for the difference amount:

1. If the revalued value of the asset is higher than its balance value, this increased amount is reflected in account 30908 “Increased Valuation Value Relative to Initial Value” by the following accounting entry:

a) Debit 165** — Relevant account for Fixed Assets;

Credit 30908 — “Increased Valuation Value Relative to Initial Value”;

b) For the difference between the accumulated depreciation amounts before and after revaluation:

Debit 30908 — “Increased Valuation Value Relative to Initial Value”;

Credit 165** — Relevant account for Fixed Assets Depreciation (counter-asset);

c) The increased value of the fixed asset as a result of revaluation must be recognized as income only to the extent of the part previously recognized as an expense due to the result of the previous revaluation of this asset;

2. If the actual value of fixed assets decreases as a result of revaluation, it is recognized as an expense. This amount must be deducted from the positive amount arising directly for this asset as a result of the previous revaluation from account 30908 — “Increased Valuation Value Relative to Initial Value”. In this case, the following accounting entries are made:

a) For the difference between the accumulated depreciation amounts before and after revaluation:

Debit 165** — Relevant account for Fixed Assets Depreciation (counter-asset);

Credit 30908 — “Increased Valuation Value Relative to Initial Value”;

b) For the decrease in the actual value of the asset determined as a result of revaluation:

Debit 30908 — “Increased Valuation Value Relative to Initial Value”;

Credit 165** — Relevant account for Fixed Assets;

c) If the previous revaluation amount reflected in account 30908 is insufficient, the difference between the decrease and the previous revaluation amount is recognized as an expense and reflected in account 55995 — “Other Non-Interest Expenses”. In this case, the following accounting entry is made:

Debit 55995 — “Other Non-Interest Expenses”;

Credit 165** — Relevant account for Fixed Assets;

3. In the index method of revaluation, different indices are applied to each group of fixed assets based on the period of acquisition of these assets.

110. Direct Revaluation Method. The full restoration value of fixed assets is determined by direct recalculation based on the market value formed on the revaluation date for similar new objects, confirmed by appropriate documents.

When applying the direct revaluation method, the organization may, at its discretion, use the following to confirm the full restoration value of objects with appropriate documents:

1. Written information obtained from preparatory organizations and their special dealers, commodity and raw material exchanges, and real estate exchanges regarding the prices (values) of similar assets;

2. Information on the value of fixed assets purchased in freely convertible currency, where the calculation coefficient is determined relative to the Central Bank rate on the dates of purchase and revaluation of fixed assets (when supporting documents are available);

3. Information on prices (values) in relevant state organizations;

4. Information on prices (values) published in mass media and special literature during the revaluation period;

5. The evaluator’s report on the value of fixed assets.

When revaluing fixed assets by the direct method, the accumulated depreciation amount calculated for the relevant fixed asset in accounting is multiplied by the coefficient resulting from dividing the restoration value of the asset at the time of revaluation by its balance value before revaluation.

111. After revaluation, the actual value of assets is compared with their initial restoration value and the sum of accumulated depreciation, and accounting entries are made in accordance with paragraph 109 of these Guidelines for the difference amounts.

112. After the above accounting entries are made, the revalued value of the asset is amortized over the remaining useful life of the asset.

113. The positive result of revaluation reflected in account 30908 — “Increased Valuation Value Relative to Initial Value” is transferred monthly to account 31203 — “Undistributed Profit (Asset-Liability)” in an amount equal to the difference between the depreciation amount of the restoration value of the relevant asset and the depreciation amount of its initial value. In this case, the following accounting entry is made: (First sentence of Paragraph 113, as amended by the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O‘zbekiston Respublikasi Qonunchilik Ma’lumotlari Milliy Bazasi, 2011, No. 22-23, Art. 239)

Debit 30908 — “Increased Valuation Value Relative to Initial Value”;

Credit 31203 — “Undistributed Profit (Asset-Liability)”.

When the relevant asset is derecognized, the revaluation result related to this asset in account 30908 is fully transferred to account 31203.

114. The result of revaluation of fixed assets in the warehouse is accounted for by the following accounting entries:

1. Positive result of revaluation for relevant assets:

Debit 16561 — “Fixed Assets in Warehouse”;

Credit 30908 — “Increased Valuation Value Relative to Initial Value”.

2. Decrease in the value of fixed assets as a result of revaluation:

Debit 30908 — “Increased Valuation Value Relative to Initial Value” and/or

Debit 55995 — “Other Non-Interest Expenses”;

Credit 16561 — “Fixed Assets in Warehouse” — relevant asset.

115. All documents confirming ownership of the fixed assets of the microcredit organization, including their valuation, insurance policies, and other documents, must be kept in separate binding folders. The auxiliary accounting for fixed assets must be maintained on separate cards (Appendix 18) for each fixed asset.

116. All entries for fixed assets and depreciation are reflected in Appendix 12.

Chapter 8. Accounting for Property Received in Microcredit Accounting

117. Real estate and other property obtained by the microcredit organization in settlement of microcredits and microloans are accounted for in account 16701 — “Real Estate and Other Private Property”.

118. If the settlement of microcredits and microloans is carried out by obtaining initial ownership rights from property pledged, the microcredits and microloans are accounted for at the balance value of the microcredits and microloans or at the actual value of the pledged property after deducting expenses related to its sale, whichever is lower. In this case, the following accounting entry is made:

Debit 16701 — “Real Estate and Other Private Property”;

Credit The relevant personal loan account for Microcredits and Microloans.

If the market value of the collateral is less than the balance value of the microcredit or microloan, their difference is written off through the account for losses against possible losses on microcredits and microloans.

Debit The relevant account for the reserve for possible losses on Microcredits and Microloans (counter-asset);

Credit Microcredit and relevant personal loan account.

119. Any change in the value of other private property must be reflected in the "Reserve for Possible Losses on Real Estate and Other Private Property (Counter-Asset)" account.

Debit 56834 — "Valuation of possible losses on real estate and other private property"; (Paragraph 119, second sub-paragraph, in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 22/6 dated September 14, 2019 (Registration No. 1728-4, 25.10.2019) — National Database of Legislative Acts of the Republic of Uzbekistan, 25.10.2019, 10/19/1728-4/3958)

Credit 16799 — "Reserve for Possible Losses on Real Estate and Other Private Property (Counter-Asset)".

120. Control and accounting of the value of other private property is carried out before its sale. Losses or profits from the sale of other private property are reflected in income or expense accounts, respectively. In this case, the following accounting entries are made:

Debit 16799 — "Reserve for Possible Losses on Real Estate and Other Private Property (Counter-Asset)";

Credit 16701 — "Real Estate and Other Private Property".

1. When other private property is sold at a price higher than its balance sheet value:

Debit 10503 — "Deposits held until demanded from banks";

Credit 16701 — "Real Estate and Other Private Property",

Credit 45913 — "Profit from sale or disposal of real estate and other private property/activities"; (Paragraph 120, sub-paragraph 1, fourth sub-paragraph, in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 22/6 dated September 14, 2019 (Registration No. 1728-4, 25.10.2019) — National Database of Legislative Acts of the Republic of Uzbekistan, 25.10.2019, 10/19/1728-4/3958)

In this case, if the amount received from the sale of pledged property exceeds the amount of the microcredit organization's claims, the difference is returned to the pledgor. (Paragraph 120 was supplemented with the eighth sub-paragraph based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — Collection of Legislative Acts of the Republic of Uzbekistan, 2011, No. 22-23, Article 239)

2. When other private property is sold at a price lower than its balance sheet value:

Debit 10503 — "Deposits held until demanded from banks";

Debit 55906 — "Losses from sale or disposal of other private property/activities";

Credit 16701 — "Real Estate and Other Private Property".

Chapter 9. Accounting for Low-Value and Rapidly Depreciating Items

121. Low-value and rapidly depreciating items (hereinafter referred to as LVRDI) are tangible assets used in the activities of microcredit organizations that meet at least one of the following criteria:

a) service life does not exceed one year;

b) regardless of service life, items with a value per set (at the time of purchase) up to fifty times the base calculation amount established in the Republic of Uzbekistan. The head of the organization has the right to set the minimum value of items for accounting within the composition of LVRDI for the reporting year. (Sub-paragraph "b" of Paragraph 121, in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 22/6 dated September 14, 2019 (Registration No. 1728-4, 25.10.2019) — National Database of Legislative Acts of the Republic of Uzbekistan, 25.10.2019, 10/19/1728-4/3958)

LVRDI includes office and administrative supplies, forms, postage and document stamps, and others.

Accounting for LVRDI is carried out at their actual purchase cost, taking into account customs duties and fees, intermediary costs paid to suppliers and intermediary organizations, taxes (for example, value-added tax), and other costs directly related to the purchase of LVRDI.

122. Full or partial advance payment of the value of LVRDI is carried out with the following accounting entries:

Debit 19909 — "Account for funds paid for goods, materials, and rendered services";

Credit 10503 — "Deposits held until demanded from banks" (or 10101 "Cash in Cashier").

When LVRDI are received:

Debit 19921 — "Low-value and rapidly depreciating items in warehouse and other valuables";

Credit 19909 — "Account for funds paid for goods, materials, and rendered services".

The issuance of LVRDI from the warehouse for use is carried out with the following accounting entry:

Debit 56406 — "Office, office, and other item expenses";

Credit 19921 — "Low-value and rapidly depreciating items in warehouse and other valuables".

All operations with LVRDI may be accounted for in accordance with Appendix 9 . Accounting and control of LVRDI stored in the warehouse and in use are carried out outside the system (in journals).

Chapter 10. Accounting for Intangible Assets

123. Intangible assets are non-monetary, identifiable assets that do not have a material and physical form, have a useful life of more than one year, and are intended for use in providing microfinance services or for administrative purposes.

Intangible assets include patents, copyrights, goodwill, trademarks, computer software, licenses, and the like.

If software is an integral part of the corresponding equipment, it is considered a tangible asset. If software is not an integral part of the corresponding equipment, it is considered an intangible asset.

124. Purchased intangible assets are valued and accounted for at their initial (actual) cost. The initial cost of intangible assets is determined in accordance with Paragraph 98 of these Guidelines, and changes to it are permitted only as a result of revaluation of intangible assets.

Expenses related to intangible assets may be added to their initial (actual) cost if these expenses are likely to bring future economic benefits exceeding the initially estimated norms for these assets. All other expenses are reflected as current expenses of the period in which they arose.

125. Intangible assets purchased in foreign currency are reflected in the balance sheet in national currency at the exchange rate of the Central Bank against foreign currency on the date of official registration of the customs declaration, and are not revalued due to changes in the foreign currency exchange rate.

126. Full or partial advance payment of the value of intangible assets is formalized with the following accounting entries:

Debit 19909 — "Account for funds paid for goods, materials, and rendered services";

Credit 10503 — "Deposits held until demanded from banks" (or 10101 "Cash in Cashier").

Upon receipt of assets:

Debit 16601 — "Intangible Assets";

Credit 19909 — "Account for funds paid for goods, materials, and rendered services".

127. After intangible assets are accounted for at their initial cost in the balance sheet, they are revalued on the revaluation date, and accounted for at the revaluation (restoration) cost, if their market value can be determined.

128. After revaluation, the revalued value of intangible assets is compared with their balance sheet value and accumulated depreciation, and the corresponding accounting entries are made for the difference between them.

129. If the revalued value of the asset is higher than its balance sheet value, this increased amount is reflected in the 30908 "Increased Revaluation Value Relative to Initial Cost" account with the following accounting entry:

a) Debit 16601 — "Intangible Assets";

Credit 30908 — "Increased Revaluation Value Relative to Initial Cost";

b) for the difference between the accumulated depreciation amounts before and after revaluation:

Debit 30908 — "Increased Revaluation Value Relative to Initial Cost";

Credit 16605 — "Accumulated Depreciation of Intangible Assets (Counter-Asset)".

130. The increased amount of the value of intangible assets as a result of revaluation is recognized as income only to the extent that it covers the part previously recognized as an expense of revaluation of these assets and which reduced their value.

131. If the value of the asset at the time of revaluation is lower than its balance sheet value, the amount of the asset decreases, and this decrease is formalized with the following accounting entry:

a) for the difference between the accumulated depreciation amounts before and after revaluation:

Debit 16605 — "Accumulated Depreciation of Intangible Assets (Counter-Asset)";

Credit 30908 — "Increased Revaluation Value Relative to Initial Cost";

b) for the amount of decrease in the asset value determined as a result of revaluation:

Debit 30908 — "Increased Revaluation Value Relative to Initial Cost" (within the previous increase amount);

Credit 16601 — "Intangible Assets".

132. If the credit balance in the 30908 account (the part specifically related to this category of intangible assets) is insufficient, the additional decreased value of the revalued asset is accounted for as follows:

Debit 55995 — "Other non-interest expenses";

Credit 16601 — "Intangible Assets".

133. The positive result added to the 30908 — "Increased Revaluation Value Relative to Initial Cost" account from revaluation is transferred directly to the 31203 — "Undistributed Profit" (asset-liability) account on a monthly basis in accordance with Paragraph 113 of these Guidelines.

134. Depreciation (amortization provisions) for intangible assets is calculated starting from the month following the month in which they began to be used. The depreciable amount of intangible assets is regularly transferred to the expenses of the microcredit organization during their useful life. (Paragraph 134, in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — Collection of Legislative Acts of the Republic of Uzbekistan, 2011, No. 22-23, Article 239)

135. The useful life of intangible assets is determined using amortization rates. Amortization rates are calculated by the microcredit organization based on their initial cost and useful life. (Paragraph 135, in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — Collection of Legislative Acts of the Republic of Uzbekistan, 2011, No. 22-23, Article 239)

136. Depreciation calculation for intangible assets is carried out in accordance with the procedure established in Paragraph 99 of these Guidelines. The selected method of depreciation calculation must be defined in the accounting policy of the microcredit organization and applied consistently from one reporting period to the next, remaining unchanged throughout the year.

137. Amortization provisions are transferred to the expenses of the microcredit organization through the following accounting entry: (Paragraph 137, in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — Collection of Legislative Acts of the Republic of Uzbekistan, 2011, No. 22-23, Article 239)

Debit 56618 — "Depreciation of Intangible Assets";

Credit 16605 — "Accumulated Depreciation of Intangible Assets (Counter-Asset)".

138. The residual value of intangible assets upon derecognition is determined as follows:

1. for the accumulated depreciation amount:

Debit 16605 — "Accumulated Depreciation of Intangible Assets (Counter-Asset)";

Credit 16601 — "Intangible Assets";

2. for the remaining balance in the 30908 account related to this intangible asset:

Debit 30908 — "Increased Revaluation Value Relative to Initial Cost";

Credit 31203 — "Undistributed Profit (Asset-Liability)".

139. When intangible assets being derecognized are sold, the following accounting entry is made:

1. In the case where payment is made by the buyer after the intangible assets are dispatched:

Debit 19909 — "Account for funds paid for goods, materials, and rendered services";

Credit 16601 — "Intangible Assets".

Accounting entries after payment receipt:

Debit 10503 — "Deposits held until demanded from banks" (or 10101 "Cash in Cashier");

Credit 19909 — "Account for funds paid for goods, materials, and rendered services".

140. The value of intangible assets is derecognized as a loss at the residual (liquidation) value in the prescribed manner in cases of full depreciation, force majeure events, or free transfer, and is formalized with the following accounting entry:

Debit 55906 — "Losses from sale or disposal of real estate and other private property/activities"; (Paragraph 140, second sub-paragraph, in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 22/6 dated September 14, 2019 (Registration No. 1728-4, 25.10.2019) — National Database of Legislative Acts of the Republic of Uzbekistan, 25.10.2019, 10/19/1728-4/3958)

Credit 16601 — "Intangible Assets".

The movement and accounting of intangible assets in microcredit organizations may be maintained in accordance with Appendix 12 of these Guidelines.

Chapter 11. Accounting for Internal Economic Operations in a Microcredit Organization. Account for Funds Paid for Goods, Materials, and Rendered Services and Settlements with Employees and Prepaid Expenses

See previous edition. (Paragraph 141 was invalidated based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — Collection of Legislative Acts of the Republic of Uzbekistan, 2011, No. 22-23, Article 239)

142. Accounting for the operating expenses of a microcredit organization is maintained by the microcredit organization in the following relevant accounts in the balance sheet: "Wages and Other Expenses for Employees", "Rent and Maintenance", "Business Trip and Transport Expenses", "Administrative Expenses", and others. Only expenses confirmed by documents and actually incurred are included in these accounts.

Accounting for the expenses of the microcredit organization for the reporting period is carried out in accordance with Appendix 11 of these Guidelines, and calculations for employee remuneration are carried out in accordance with Appendix 10 of these Guidelines.

143. Accounting for funds paid for goods, materials, and rendered services in microcredit organizations is carried out through the 19909 — "Account for funds paid for goods, materials, and rendered services" and 29802 — "Account for funds to be paid for goods, materials, and rendered services" accounts.

Funds in these accounts should be subject to periodic inventory checks, and accounting for debtor and creditor debts for paid and payable amounts should be maintained.

144. Various amounts to be received by microcredit organizations from employees, customers, and other debtors are accounted for in the account from which they are to be received.

145. To reflect the actual value of receivable accounts in the balance sheet report, the 19911 — "Reserve for Possible Losses on Receivable Accounts (Counter-Asset)" account is used.

146. Entries for these accounts are reflected in Appendix 8 . The debit part of this account shows the amount to be received when the debtor's obligation arises. The credit part shows the amount received by microcredit organizations.

147. Expenses related to future reporting periods should be reflected as assets in the 19925 — "Prepaid Expenses" accounts and amortized (transferred to expenses) during the relevant reporting period. Examples of such expenses include wages paid to employees going on leave at the end of the year, specifically payments attributable to the next year, subscriptions to periodic publications, capital repair costs of rented buildings to be reimbursed from future year budgets, advance payments for building rent, advance insurance premiums, advance payments for audit services, organizational expenses related to activity, and other tax payments. (Paragraph 147, in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — Collection of Legislative Acts of the Republic of Uzbekistan, 2011, No. 22-23, Article 239)

148. Entries for prepaid and accrued expense accounts are reflected in a separate calculation form in accordance with the form of Appendix 6 . The debit part of this account shows the prepaid amount or accrued expenses, and the credit part shows the amortizable part of prepaid expenses.

149. Accounting for prepaid and accrued expenses related to future reporting periods is carried out as follows (for example, the annual amount to be paid for a subscription to a periodic publication).

Debit 19925 — "Prepaid Expenses";

Credit 10503 — "Deposits held until demanded from banks".

In this case, a portion of the prepaid expenses for each month of the subscription is included in the expenses of the reporting period:

Debit 56418 — "Expenses for books, newspapers, and other periodic publications";

Credit 19925 — "Prepaid Expenses".

150. An employee assigned the task of formalizing documents for the operating expenses of a microcredit organization checks the following when accepting documents for accounting records for these expenses:

a) whether the document to be paid has the signature of the executive director (if a summary document such as an expense report is being paid, the signature is required only on the summary document);

b) whether the remaining budget expenses, taking into account sub-items in the 29802 account, are sufficient to pay this expense;

c) the correctness of individual amounts and totals in the document to be paid;

d) whether the document is correctly formalized and, in particular, whether there are signatures of relevant officials of the microcredit organization confirming the acceptance of work performed and services rendered in payment orders for rendered services;

e) whether there are notes in payment orders for purchased tangible assets confirming that these assets were accepted by persons responsible for their safekeeping;

f) whether a signature confirming the receipt of money is attached to the document in cases where the document amount is paid from the amounts submitted in the cash report.

151. Powers of attorney for receiving tangible assets are formalized by microcredit organizations at their discretion in the form prescribed by Appendix 19 of these Guidelines.

Powers of attorney are signed by the head of the executive body of the microcredit organization or by persons determined by law in the prescribed manner.

152. The issuance of a power of attorney is registered in a register of issued powers of attorney.

The pages of the power of attorney register are numbered and stitched with a thread. On the cover of the register, the ends of the stitched threads are covered with a separate piece of paper, on which the executive director and chief accountant of the microcredit organization record "... pages in this register were numbered," glue it, and stamp it. The number of pages is indicated in writing.

The register of issued powers of attorney must be kept by the person responsible for registering powers of attorney.

153. The validity period of a power of attorney is determined depending on the opportunity to receive and remove the relevant assets under the contracts and other agreements for which the power of attorney was issued, but it must not exceed 10 working days.

154. After receiving the assets, the trusted person must submit documents to the enterprise accounting or the relevant material responsible person confirming that the tasks have been performed and that the goods, materials, and assets they received have been handed over to the warehouse (storehouse).

Unused powers of attorney must be returned to the issuing enterprise on the date following the expiration of their validity period.

The return of unused powers of attorney is recorded in the register of issued powers of attorney (in the "Records of Execution of Tasks under Power of Attorney" column). Returned unused powers of attorney are crossed out with the inscription "unused" and are kept by the person responsible for registering them until the end of the reporting year. At the end of the year, such unused powers of attorney are destroyed in the prescribed manner by drawing up an appropriate act. Persons who have not reported on the use of expired powers of attorney are not issued new powers of attorney, and the reason for the non-return of expired powers of attorney is investigated. In case of abuse, measures prescribed by legislation must be taken.

155. Powers of attorney are left with the supplier at the initial issuance of goods, materials, and assets, regardless of the validity period.

After goods, materials, and assets are delivered, the power of attorney is submitted to accounting together with the document for the final batch of assets being handed over under the power of attorney.

Chapter 12. Procedure for Inventory of Tangible Assets and Formalization of Identified Surpluses and Shortages

156. To control the actual existence and storage of tangible assets, microcredit organizations conduct periodic inventory checks of these assets, but at least once a year. The procedure for conducting inventory is established by the management of the executive body of the microcredit organization.

157. A protocol is drawn up and reflected in accounting records in the prescribed manner regarding identified surpluses or shortages resulting from the inventory of tangible assets.

Surplus tangible assets identified as a result of inventory in a microcredit organization, for example, fixed assets, are entered into the balance sheet at their assessed value as follows:

1. upon acceptance for use:

Debit 165** — Relevant account of Fixed Assets;

Credit 45994 — "Other non-interest income";

2. upon entry into the warehouse:

Debit 16561 — "Fixed Assets in Warehouse";

Credit 45994 — "Other non-interest income".

158. In cases where tangible assets become unusable due to the fault of microcredit organization employees or shortages are identified, the actual value of these tangible assets is recovered from the guilty persons in the manner prescribed by legislation. The amount of damage caused and the procedure and scope of material liability of the organization's employee for damage to the organization's property are regulated by the Labor Code of the Republic of Uzbekistan. The following accounting entries are formalized regarding the results of the inventory of fixed assets:

1. for the accumulated depreciation amount:

Debit 165** — Relevant account of Accumulated Depreciation of Fixed Assets (Counter-Asset);

Credit 165** — Relevant account of Fixed Assets;

2. if the amount to be recovered is greater than the residual value of the asset:

Debit 19908 — "Receivables in Settlements with Microcredit Organization Employees" — for the amount to be recovered from the guilty person;

Credit 165** — Relevant account of Fixed Asset — for the residual value — and/or

Credit 45994 — "Other non-interest income" — for the difference between the amount to be recovered and the residual value of the asset;

3. if the amount to be recovered is less than the residual value of the asset:

Debit 19908 — "Receivables in Settlements with Microcredit Organization Employees" — for the amount to be recovered;

Debit 55995 — "Other non-interest expenses" — for the difference between the residual value of the asset and the amount to be recovered;

Credit 165** — Corresponding account of the main asset — residual value.

4. when funds are collected:

Debit 10101 — "Cash in the cash register" and/or

Debit 29803 — "Funds payable in settlements with microcredit organization employees" (deduction from employee's salary);

Credit 19908 — "Funds receivable in settlements with microcredit organization employees".

12 1 -Chapter. Accounting for assets and liabilities expressed in foreign currency

158 1 . The following are considered operations of a microcredit organization in foreign currency:

purchase (sale) of property (fixed assets, intangible assets, installed equipment, commodity-material values) in foreign currency;

receipt (issuance) of credits (microcredits) and loans with payment amounts specified in foreign currency; (Paragraph 3 of item 158 1 was added based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 22/6 dated September 14, 2019 (Registry number 1728-4, 25.10.2019) — National Database of Legislation of the Republic of Uzbekistan, 25.10.2019, 10/19/1728-4/3958)

acceptance (payment) of liabilities expressed in foreign currency;

It is prohibited to issue credits (loans) to individuals in foreign currency and to record their liabilities on credits (loans) in foreign currency. (Item 158 1 was supplemented with a paragraph based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 22/6 dated September 14, 2019 (Registry number 1728-4, 25.10.2019) — National Database of Legislation of the Republic of Uzbekistan, 25.10.2019, 10/19/1728-4/3958)

158 2 . The value of assets and liabilities expressed in foreign currency is revalued in national currency — sum — according to the Central Bank exchange rate on the date of carrying out foreign currency operations for reflection in accounting records.

158 3 . Currency items of the microcredit organization's balance sheet are revalued according to the Central Bank exchange rate on the last day of the reporting month and on the date of carrying out foreign currency operations.

158 4 . The following currency items of the balance sheet are revalued:

currency funds in the cash register, bank deposit and loan accounts, including letters of credit;

currency money documents;

short-term and long-term investments expressed in foreign currency;

debtor and creditor debts, credits and loans expressed in foreign currency. (Paragraph 5 of item 158 4 was added based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 22/6 dated September 14, 2019 (Registry number 1728-4, 25.10.2019) — National Database of Legislation of the Republic of Uzbekistan, 25.10.2019, 10/19/1728-4/3958)

158 5 . The following are not revalued:

property purchased for foreign currency (fixed assets, intangible assets, installed equipment, capital investments, commodity-material values);

the amount of authorized capital and the ratios of founders' (participants') shares.

158 6 . Exchange rate differences arising from the revaluation of assets and liabilities in foreign currency are carried forward to financial results by a microcredit organization using the direct write-off method. (Item 158 6 was added based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 22/6 dated September 14, 2019 (Registry number 1728-4, 25.10.2019) — National Database of Legislation of the Republic of Uzbekistan, 25.10.2019, 10/19/1728-4/3958)

158 7 . When the direct write-off method is applied, exchange rate differences arising from revaluation are carried forward to financial results upon their emergence (revaluation). Profits arising from exchange rate differences are carried to account 45401 — "Profit from changes in foreign exchange rates" and losses to account 55301 — "Losses from changes in foreign exchange rates". See previous edition. (Item 158 8 was invalidated based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 22/6 dated September 14, 2019 (Registry number 1728-4, 25.10.2019) — National Database of Legislation of the Republic of Uzbekistan, 25.10.2019, 10/19/1728-4/3958) See previous edition. (Item 158 9 was invalidated based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 22/6 dated September 14, 2019 (Registry number 1728-4, 25.10.2019) — National Database of Legislation of the Republic of Uzbekistan, 25.10.2019, 10/19/1728-4/3958) See previous edition. (Item 158 10 was invalidated based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 22/6 dated September 14, 2019 (Registry number 1728-4, 25.10.2019) — National Database of Legislation of the Republic of Uzbekistan, 25.10.2019, 10/19/1728-4/3958) (Chapter 12 1 was added based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registry number 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari To'plami, 2011, No. 22-23, Article 239)

13-Chapter. Accounting for operations on capital accounts. Accounting for received grant funds

159. At the end of the financial year, all income and expense accounts must be closed in the annual net profit (loss) account.

Closing income accounts:

Debit Income accounts (from the income statement);

Credit 31206 — "Net profit (loss) (asset-liability)".

Closing expense accounts:

Debit 31206 — "Net profit (loss) (asset-liability)";

Credit All expense accounts (from the income statement)".

Then the balance in the net profit (loss) account is transferred to the undistributed profit account:

Debit 31206 — "Net profit (loss) (asset-liability)";

Credit 31203 — "Undistributed profit (asset-liability)".

160. Undistributed profit is debited (decreased) or credited (increased) by the amount of necessary allocations or reserves (funds) of capital. In other cases, undistributed profit is only reduced or increased if corrections are made for significant amounts related to the previous reporting period.

161. Significant corrections to financial statements may arise as a result of arithmetic errors, misuse of information or mistakes, errors in applying accounting principles and rules.

162. Increasing the authorized capital of a microcredit organization from profit is carried out with the following accounting entry:

Debit 31203 — "Undistributed profit (asset-liability)";

Credit 30301 — "Authorized capital".

163. An allocation to the reserve fund is transferred in an amount not less than 5% of net profit annually, in the amount specified in the charter of the microcredit organization.

Debit 31203 — "Undistributed profit (asset-liability)";

Credit 30903 — "General reserve fund".

164. Charitable contributions and grants received by a microcredit organization are considered as a source of financing activities and are accounted for as follows:

a) when a microcredit organization receives charitable contributions, the following accounting entry is made:

Debit 10101 — "Cash in the cash register" or 10503 — "Deposits held in banks until demanded";

Credit 45994 — "Other interest-free income";

b) grants received by a microcredit organization are initially recognized as liabilities and the following accounting entry is made:

Debit 10503 — "Deposits held in banks until demanded";

Credit 22814 — "Grant funds";

c) the following accounting entry is made in accordance with the fulfillment of conditions related to grants (utilization of grants) by the microcredit organization:

Debit 22814 — "Grant funds";

Credit 45917 — "Income from grant funds";

d) when grants are received in the form of non-monetary assets, for example, fixed assets, the following accounting entry is made according to the assessed value of the assets:

Debit 165** — "Corresponding account of fixed assets";

Credit 22814 — "Grant funds" (if there are conditions related to the grant) or Credit 45917 — "Income from grant funds" (if there are no conditions related to the grant).

Depreciation entries for fixed assets received as grants are carried out by the microcredit organization in the same manner as for its other fixed assets, and the grant amount in account 22814 — "Grant funds" is transferred to account 45917 — "Income from grant funds" in the amount of depreciation calculated for the reporting period;

e) at the end of the reporting year, utilized grants are transferred from the profit (loss) account to the "Utilized grant funds" account in capital with the following accounting entry:

Debit 31206 — "Net profit (loss) (asset-liability)";

Credit 31701 "Utilized grant funds". (Item 164 was edited based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registry number 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari To'plami, 2011, No. 22-23, Article 239)

Section V. Storage of accounting documents and control over the use of strict accountability forms

165. A microcredit organization must ensure the strict storage of accounting documents. Responsibility for observing the established procedure for storing documents and for the proper organization of this work is placed on the head of the microcredit organization and the chief accountant, who must issue instructions to employees, allocate and assign specific places for employees to store documents.

166. Accounting documents are formed separately for each working day, and documents for no more than one month are stored bound in one volume. The task of forming documents and binding them into separate volumes is assigned to an employee assigned by the chief accountant. Cash documents are placed in separate collection volumes by the cashier or cash manager. (Item 166 was edited based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registry number 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari To'plami, 2011, No. 22-23, Article 239)

167. An employee must ensure the availability of all documents in collection volumes where accounting operations were carried out for each working day.

Documents for the completed day must be formed without delay from the next day. Documents must be stored in a fireproof cabinet until the beginning of the next day. (Paragraph 1 of item 167 was edited based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registry number 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari To'plami, 2011, No. 22-23, Article 239)

168. The following documents, which are stored for a longer period, as well as those related to the internal operations of the microcredit organization, must be stored in separate collection volumes:

documents regarding operations of the microcredit organization on fixed assets, other income and expenses, and other economic operations;

documents regarding microcredits, microloans of the microcredit organization's clients, as well as microleasing and factoring operations.

Cash documents, including receipt and payment cash orders with all attachments, are bound together. See previous edition. (Item 169 was invalidated based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registry number 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari To'plami, 2011, No. 22-23, Article 239)

170. Documents on operations with fixed assets and operations related to various income and expenses, as well as documents on other economic operations of microcredit organizations, are also placed with original documents that served as the basis for drawing up cash accounts and cash orders (payment orders, payroll records, etc.) with correspondence to the cash account. (Item 170 was edited based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 5/9 dated March 16, 2019 (Registry number 1728-3, 08.04.2019) — National Database of Legislation of the Republic of Uzbekistan, 08.04.2019, 10/19/1728-3/2896)

171. In case of small volume of operations, at the decision of the head of the microcredit organization, long-term storage documents related to the previous year may be formed after the end of the current year. In such cases, these documents must be bound in a collection volume until the end of the year and stored in a fireproof metal cabinet under the responsibility of the chief accountant.

Microcredit organizations must store information about operations carried out with clients, correspondence with clients, as well as materials on client identification and due diligence for at least five years after the termination of practical business relations with clients. (Item 171 was supplemented with a second paragraph based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registry number 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari To'plami, 2011, No. 22-23, Article 239)

172. When forming long-term storage documents, supplementary sheets for each month must be attached to the collection volume, showing the sums of each account's debit and credit compared with accounting data for that month, and the cover of the collection volume must show the total sum of documents for each account's debit and credit compared with accounting data. (Item 172 was edited based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 13/2 dated April 30, 2011 (Registry number 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari To'plami, 2011, No. 22-23, Article 239)

173. The following documents must be stored in the cash register, warehouse, or fireproof cabinets:

a certified copy of the annual report with appropriate signatures, as well as monthly (quarterly) balance sheets with all their attachments;

cash documents for the last twelve months;

auxiliary books. (Item 173 was edited based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 5/9 dated March 16, 2019 (Registry number 1728-3, 08.04.2019) — National Database of Legislation of the Republic of Uzbekistan, 08.04.2019, 10/19/1728-3/2896)

a certified copy of the annual report with appropriate signatures, as well as monthly (quarterly) balance sheets with all their attachments;

cash documents for the last twelve months;

memorial documents for the current month;

journals for accounting of fixed assets and low-value and rapidly worn-out items;

operational journals, books, signature samples, and sheets with seal impressions (if seals are present), records on interest calculation. (Paragraph 6 of item 173 was edited based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 24/4 dated September 5, 2015 (Registry number 1728-2, 15.09.2015) — O'zbekiston Respublikasi Qonun Hujjatlari To'plami, 2015, No. 37, Article 494)

174. All materials related to accounting (personal accounts, etc.) must be stored in the current archive of the accounting department, equipped with shelves and iron cabinets, until they are handed over to the archive. This current archive is under the control of a specially assigned employee responsible for the safe storage of documents. If there is no space in the cash register or warehouse, this same employee is responsible for the integrity of documents stored in fireproof iron cabinets in the accounting department. (Item 174 was edited based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 5/9 dated March 16, 2019 (Registry number 1728-3, 08.04.2019) — National Database of Legislation of the Republic of Uzbekistan, 08.04.2019, 10/19/1728-3/2896)

175. Information on documents stored in the accounting and current archives is obtained at the request of the employee responsible for cash documents, based on requisitions signed by the chief accountant, in the presence of the employee responsible for the current archive. The microcredit organization employee authorized to obtain information must work under the supervision of the cashier or the employee managing the current archive. They must ensure that authorized employees do not make any corrective entries in the documents.

176. Client-related and other payment documents can only be obtained with the permission of the head of the microcredit organization, based on the written request of judicial and investigative bodies.

177. When the original document is obtained, a protocol or statement is drawn up in two copies, which is signed by the head of the microcredit organization, the chief accountant, and the representative of the organization requesting the document. The protocol or statement must clearly indicate which document is being obtained, at whose request and with whose permission it is being obtained. The second copy of the protocol or statement is handed over to the aforementioned representative.

178. In place of the original obtained payment document, a copy (xerox) certified by the chief accountant, as well as the first copy of the statement signed by the person obtaining the original document, and the requisition for obtaining the document are placed. The chief accountant writes on the cover of the collection volume where this document is located and signs it regarding the obtaining of the document.

179. In cases where payment documents related to different dates of one year are obtained simultaneously, a single protocol or statement is drawn up for all these documents, including a list of these documents. In place of one of these documents, a copy of it, the requisition for obtaining the document, and the first copy of the protocol or statement are placed, and in place of others, copies of these documents are placed, indicating where the requisition for obtaining the document is stored.

180. The issuance of settlement booklets, receipt forms, and other strict accountability forms in microcredit organizations must be strictly controlled, and their timely and full reflection in accounting must be ensured.

Guidelines on Maintaining Accounting Records in Microcredit Organizations

APPENDIX 1

Chart of Accounts for Accounting in Microcredit Organizations

I. General Description of the Chart of Accounts

This chart of accounts serves as the basis for reflecting accounting of microfinance operations in microcredit organizations and consists of a list of General Ledger accounts used to record, analyze, group operations carried out by microcredit organizations, and prepare reports related to them.

When correcting errors and making changes in accounting policy, as well as when definitions of accounts do not provide for it, corrections entries on the debit and credit of accounts are permitted.

The chart of accounts of microcredit organizations is based on a multi-currency accounting system, allowing for the reflection of foreign currency operations in all accounts where foreign currency operations can be recorded. For each currency type, a separate General Ledger is opened for synthetic accounting, and Auxiliary Books are opened for analytical (analytic) accounting. The sums of the corresponding balance sheet accounts in the General Ledgers for each currency must match the sum of the sums in the Auxiliary Books. Each operation carried out by the microcredit organization must be recorded in the General and Auxiliary Ledgers for the corresponding currency type. On the reporting date, the total sums of General Ledgers for foreign currencies are converted into national currency, and a consolidated balance sheet of the microcredit organization is prepared for all operations carried out during the reporting period.

Account coding is developed for the following purposes:

to facilitate the placement of accounts in General and Auxiliary Ledgers;

to help classify and group accounts in a single system;

to facilitate the automation of accounting processes;

to speed up the recording of operations.

The coding system for balance sheet accounts in the General Ledger is accepted to consist of five characters according to the following scheme:

S

MM

SS

C

Account group (category):

1 .

Assets

2 .

Liabilities

3 .

Capital

4 .

Income

5 .

Expenses

9 .

Unforeseen cases

MM

Main accounts (first order) belonging to the account group

SS

Sub-accounts (second order) belonging to the main accounts

The following necessary conditions are placed in the numeric coding:

for consolidated accounts, MM and/or SS have zero numbers (for example, 10000 — "Assets", 10100 — "Cash and other payment documents in the cash register", etc.);

for sub-accounts titled "... Reserve for covering losses" in the "Assets" section, the number 99 is accepted in place of SS.

Personal accounts in the Auxiliary Book are coded according to the following scheme:

CCCCC

VVV

K

SSSSSSSS

NNN

Account sequence number

Specific number of the microcredit organization or client

Control key

Currency code

Balance sheet account

In addition, for the purpose of managing operations, additional information providing detailed information necessary for the Central Bank and microcredit organization management (administration) is entered into the Auxiliary Books.

In the chart of accounts, it is clearly specified whether each account is active or passive, with the exception of some accounts that have active-passive balances. Active accounts include balance sheet accounts in the "Assets", "Expenses", and "Unforeseen cases" sections, while passive accounts include balance sheet accounts in the "Liabilities", "Capital", and "Income" sections.

For the purpose of reflecting the real value of assets, counter-active accounts are included in the "Assets" section, and for the purpose of reflecting the real value of liabilities, counter-passive accounts are included in the "Liabilities" section.

In addition to some accounts, "Assets" are classified based on liquidity principles, and "Liabilities" based on maturity principles.

This chart of accounts provides a definition for each second-order balance sheet account, indicating which operations on the debit and credit of the account are reflected and how analytical (analytic) accounting is carried out. For detailed analytical (analytic) accounting, microcredit organizations may maintain additional journal accounting and registers in addition to personal accounts.

Analytical (analytic) accounting is not specified for the "Income" and "Expenses" sections, and accounts in these sections are considered internal accounts of the microcredit organization. Microcredit organizations determine the procedure for carrying out analytical (analytic) accounting in these accounts based on Central Bank requirements and internal accounting policies.

II. List of Accounts

Code

Name

10000

ASSETS

10100

Cash in the cash register

10101

Cash funds in the cash register

10109

Cash in transit

10500

Deposits and other funds placed in banks

10503

Deposits held in banks until demanded

10505

Savings deposits placed in banks

10507

Term deposits placed in banks

10509

Non-cash funds in transit

10597

Other funds placed in banks

11100

Purchased debtor debts — Factoring

11101

Purchased debtor debts — Factoring

11103

Overdue purchased debtor debts — Factoring

11105

Purchased debtor debts in court proceedings — Factoring

11195

Purchased debtor debts — Factoring discount (counter-asset)

11199

Purchased debtor debts — Factoring reserve for possible losses (counter-asset)

12400

Short-term microloans issued to individuals

12401

Short-term microloans issued to individuals

12405

Overdue microloans issued to individuals

12409

Short-term microloans issued to individuals with restructured terms

12499

Short-term microloans issued to individuals — Reserve for possible losses (counter-asset)

12500

Microloans granted to sole proprietors

12501

Short-term microloans granted to sole proprietors

12505

Overdue microloans granted to sole proprietors

12509

Short-term microloans with restructured terms granted to sole proprietors

12599

Reserve for potential losses on short-term microloans granted to sole proprietors (contra-asset)

12700

Short-term microloans granted to legal entities

12701

Short-term microloans granted to legal entities

12705

Overdue microloans granted to legal entities

12709

Short-term microloans with restructured terms granted to legal entities

12799

Reserve for potential losses on short-term microloans granted to legal entities (contra-asset)

14800

Long-term microloans granted to individuals

14801

Long-term microloans granted to individuals

14809

Long-term microloans with restructured terms granted to individuals

14899

Reserve for potential losses on long-term microloans granted to individuals (contra-asset)

14900

Long-term microloans granted to sole proprietors

14901

Long-term microloans granted to sole proprietors

14909

Long-term microloans with restructured terms granted to sole proprietors

14999

Reserve for potential losses on long-term microloans granted to sole proprietors (contra-asset)

15100

Long-term microloans granted to legal entities

15101

Long-term microloans granted to legal entities

15109

Long-term microloans with restructured terms granted to legal entities

15199

Reserve for potential losses on long-term microloans granted to legal entities (contra-asset)

15600

Microleasing (financial lease)

15607

Microleasing

15617

Overdue microleasing

15619

Microleasing with restructured terms

15699

Reserve for potential losses on microleasing (contra-asset)

15700

Microloans, microcredits, and microleasing in litigation

15701

Microloans in litigation granted to individuals

15703

Microcredits in litigation granted to sole proprietors

15707

Microcredits in litigation granted to legal entities

15709

Microleasing in litigation

15799

Reserve for potential losses on microloans, microcredits, and microleasing in litigation (contra-asset)

16100

Funds obtained from the head office and/or branches

16102

Funds obtained from the head office and/or branches — Financial funds

16104

Funds obtained from the head office and/or branches — Other assets

16300

Accrued interest receivable

16301

Accrued interest receivable on bank deposits

16307

Accrued interest receivable on microloans

16309

Accrued interest receivable on microcredits

16323

Accrued interest receivable on microleasing (financial lease)

16377

Accrued interest overdue

16397

Other accrued interest receivable

16400

Accrued non-interest income

16401

Accrued payments for services rendered

16405

Accrued fines and penalties

16409

Accrued income from operating leases

16413

Accrued other non-interest income

16499

Reserve for potential losses on accrued non-interest income (contra-asset)

16500

Fixed assets

16501

Land

16505

Incomplete construction

16509

Buildings and other structures of the microcredit organization

16511

Accumulated depreciation of buildings and other structures of the microcredit organization (contra-asset)

16515

Right to lease and improve objects

16519

Accumulated depreciation on the right to lease and improve objects (contra-asset)

16529

Transport vehicles

16531

Accumulated depreciation of transport vehicles (contra-asset)

16535

Furniture, equipment, and fixtures

16539

Accumulated depreciation of furniture, equipment, and fixtures (contra-asset)

16549

Fixed assets leased under operating leases

16551

Accumulated depreciation of fixed assets leased under operating leases (contra-asset)

16561

Fixed assets in warehouse

16563

Accumulated depreciation of fixed assets in warehouse (contra-asset)

16575

Fixed assets pledged for obtained loans

16579

Accumulated depreciation of fixed assets pledged for obtained loans (contra-asset)

16600

Intangible assets

16601

Intangible assets

16605

Accumulated depreciation of intangible assets (contra-asset)

16609

Intangible assets in the process of installation and creation

16617

Goodwill

16699

Reserve for potential losses on intangible assets in the process of installation and creation (contra-asset)

16700

Real estate and other private property

16701

Real estate and other private property

16707

Accumulated depreciation of real estate and other private property

16799

Reserve for potential losses on real estate and other private property (contra-asset)

19900

Other assets

19901

Small expenses

19907

Prepaid expenses for services

19908

Receivables in settlements with employees of microcredit organizations

19909

Account for funds paid for goods/material values and services rendered

19911

Reserve for potential losses on receivables accounts (contra-asset)

19921

Low-value and fast-wearing items in warehouse and other valuables

19925

Prepaid expenses

19931

Deferred taxes

19941

Funds in banks of terminated and terminating organizations

19945

Reserve for potential losses on funds in banks of terminated and terminating organizations (contra-asset)

19995

Other assets in litigation

19997

Other assets

19999

Reserve for potential losses on other assets (contra-asset)

20000

LIABILITIES

21400

Attracted loan funds

21402

Loan funds of founders

21404

Attracted loan funds from other persons

21600

Obtained short-term loans

21606

Short-term loans obtained from banks

21610

Short-term loans obtained from state target funds

21614

Short-term loans obtained from non-bank financial institutions

21618

Short-term loans obtained from non-state non-profit organizations

21622

Short-term loans obtained from international financial institutions

21626

Short-term loans obtained from foreign investors

21696

Short-term loans obtained from other creditors

22000

Obtained long-term loans

22006

Long-term loans obtained from banks

22010

Long-term loans obtained from state target funds

22014

Long-term loans obtained from non-bank financial institutions

22018

Long-term loans obtained from non-state non-profit organizations

22022

Long-term loans obtained from international financial institutions

22026

Long-term loans obtained from foreign investors

22096

Long-term loans obtained from other creditors

22100

Liabilities for leasing (financial lease)

22102

Liabilities for leasing to banks

22104

Liabilities for leasing to other lessors

22200

Funds payable to the head office and/or branches

22203

Funds payable to the head office and/or branches — Financial funds

22205

Funds payable to the head office and/or branches — Other assets

22400

Accrued interest payable

22402

Accrued interest on loan funds of founders

22404

Accrued interest on attracted loan funds from other persons

22408

Accrued interest on leasing (financial lease)

22410

Accrued interest on obtained loans

22414

Accrued interest payable on issued corporate bonds

22496

Accrued interest on other liabilities

22500

Accrued taxes

22502

Accrued profit taxes

22504

Accrued other taxes

22506

Taxes withheld for payment

22508

Deferred taxes

22510

Accrued single social payment

22512

Settlements with funds

22800

Deferred income

22812

Interest income for future periods

22814

Grant funds

22896

Other deferred income

23600

Issued corporate bonds

23602

Issued corporate bonds

23696

Premium on issued corporate bonds

23698

Discount on issued corporate bonds (contra-passive)

29800

Other liabilities

29801

Settlements with clients

29802

Funds payable for goods/material values and services rendered

29803

Funds payable in settlements with employees of microcredit organizations

29805

Funds payable for leasing (operating lease)

29807

Dividends payable

29830

Funds deposited for the purpose of increasing the charter capital (subscription funds for shares) by the founder (shareholders)

29896

Other liabilities

30000

CAPITAL

30300

Charter capital of the microcredit organization

30301

Charter capital

30315

Issued charter capital — Preferred shares

30318

Issued charter capital — Ordinary shares

30321

Own shares repurchased from shareholders — Preferred (contra-passive)

30324

Own shares repurchased from shareholders — Ordinary (contra-passive)

30600

Additional capital

30603

Additional capital — Preferred shares

30606

Additional capital — Ordinary shares

30900

Reserve capital

30903

General reserve fund

30905

Property received free of charge

30908

Increased amount of revaluation value relative to initial value

31200

Undistributed profit

31203

Undistributed profit (asset-passive)

31206

Net profit (loss) (asset-passive)

31700

Utilized grant funds

31701

Utilized grant funds

40000

INCOME

40400

Interest income on bank deposits

40401

Interest income on demand deposits in banks

40403

Interest income on savings deposits in banks

40405

Interest income on term deposits in banks

40407

Interest income on other funds in banks

42000

Interest income on short-term microloans granted to individuals

42001

Interest income on short-term microloans granted to individuals

42005

Interest income on overdue microloans granted to individuals

42009

Interest income on short-term microloans with restructured terms granted to individuals

42100

Interest income on short-term microcredits granted to sole proprietors

42101

Interest income on short-term microcredits granted to sole proprietors

42105

Interest income on overdue microcredits granted to sole proprietors

42109

Interest income on short-term microcredits with restructured terms granted to sole proprietors

42300

Interest income on short-term microcredits granted to legal entities

42301

Interest income on short-term microcredits granted to legal entities

42305

Interest income on overdue microcredits granted to legal entities

42309

Interest income on short-term microcredits with restructured terms granted to legal entities

44200

Interest income on long-term microloans granted to individuals

44201

Interest income on long-term microloans granted to individuals

44209

Interest income on long-term microloans with restructured terms granted to individuals

44300

Interest income on long-term microcredits granted to sole proprietors

44301

Interest income on long-term microcredits granted to sole proprietors

44309

Interest income on long-term microcredits with restructured terms granted to sole proprietors

44500

Interest income on long-term microcredits granted to legal entities

44501

Interest income on long-term microcredits granted to legal entities

44509

Interest income on long-term microcredits with restructured terms granted to legal entities

44700

Interest income on microloans and microcredits in litigation

44701

Interest income on microloans in litigation

44703

Interest income on microcredits in litigation

44900

Other interest income

44901

Other interest income

45100

Interest income on microleasing (financial lease)

45105

Interest income on microleasing

45117

Interest income on overdue microleasing

45119

Interest income on microleasing with restructured terms

45121

Interest income on microleasing in litigation

45200

Non-interest income

45201

Income received for services rendered and brokerage

45217

Income on purchased receivables — Factoring

45400

Profit from changes in foreign exchange rates

45401

Profit from changes in foreign exchange rates

45900

Other non-interest income

45901

Income received from leasing of fixed assets

45909

Profit from sale or disposal of fixed assets

45913

Profit from sale or disposal of real estate and other private property/assets

45917

Income from grant funds

45921

Return of written-off funds

45994

Other non-interest income

50000

EXPENSES

50600

Interest expenses on attracted funds

50601

Interest expenses on loan funds of founders (shareholders)

50603

Interest expenses on attracted loan funds from other persons

53100

Interest expenses on short-term loans

53101

Interest expenses payable on short-term loans obtained from banks

53105

Interest expenses payable on short-term loans obtained from state target funds

53109

Interest expenses on short-term loans obtained from non-bank financial institutions

53113

Interest expenses on short-term loans obtained from non-state non-profit organizations

53117

Interest expenses on short-term loans obtained from international financial institutions

53121

Interest expenses on short-term loans obtained from foreign investors

53195

Interest expenses on short-term loans obtained from other creditors

54100

Interest expenses on long-term loans

54101

Interest expenses on long-term loans obtained from banks

54105

Interest expenses on long-term loans obtained from state target funds

54109

Interest expenses on long-term loans obtained from non-bank financial institutions

54113

Interest expenses on long-term loans obtained from non-state non-profit organizations

54117

Interest expenses on long-term loans obtained from international financial institutions

54121

Interest expenses on long-term loans obtained from foreign investors

54195

Interest expenses on long-term loans obtained from other creditors

54200

Interest expenses on issued corporate bonds

54202

Interest expenses on issued corporate bonds

54400

Interest expenses on leasing (financial lease)

54401

Interest expenses on leasing (financial lease)

54900

Other interest expenses

54902

Other interest expenses

55100

Non-interest expenses

55106

Expenses for services rendered and brokerage

53100

Loss from changes in foreign exchange rates

55301

Loss from changes in foreign exchange rates

55900

Other non-interest expenses

55902

Losses from sale or disposal of fixed assets

55906

Losses from sale or disposal of real estate and other private property/assets

55995

Other non-interest expenses

56100

Wages of employees of the microcredit organization and other expenses incurred for them

56102

Wages

56106

Benefits for employees of the microcredit organization

56110

Medical, dental services, and hospital treatment expenses

56114

Social insurance premiums

56118

Social protection expenses

56122

Contributions to funds

56195

Other expenses incurred for employees of the microcredit organization

56200

Leasing and storage (maintenance) expenses

56202

Lease payment

56206

Water payment

56210

Electricity and heating network expenses

56214

Repair and maintenance expenses

56218

Security service expenses

56300

Business trip and transport expenses

56302

Business trip expenses

56306

Per diem expenses during business trips

56310

Freight expenses related to moving property of the microcredit organization

56314

Fuel expenses

56400

Administrative expenses

56402

Advertising and announcement expenses

56406

56410

Post, telephone, fax expenses

56414

Expenses for document stamps

56418

Expenses for books, newspapers, and other periodical publications

56500

Representation and charity

56502

Representation and entertainment event expenses

56506

Membership fees

56510

Donations and charity expenses

56600

Depreciation expenses

56602

Depreciation of buildings and other structures of the microcredit organization

56610

Depreciation of transport vehicles

56614

Depreciation of furniture and fixtures

56618

Depreciation of intangible assets

56622

Depreciation of fixed assets leased under operating leases

56626

Depreciation on the right to lease and improve objects

56630

Depreciation of fixed assets in warehouse

56632

Depreciation of fixed assets pledged for obtained loans

56700

Insurance, taxes, and other expenses

56702

Legal and auditing service expenses

56706

Consulting service payment expenses

56710

Insurance expenses

56714

Taxes (other than profit tax) and licenses

56718

Fines and penalty expenses

56722

Litigation and/or asset acquisition related expenses

56795

Other operating expenses

56800

Assessment of potential losses

56802

Assessment of potential losses on microloans and microcredits

56814

Assessment of potential losses on purchased receivables — Factoring

56832

Assessment of potential losses on intangible assets

56834

Assessment of potential losses on real estate and other private property

56838

Assessment of potential losses on microleasing (financial lease)

56840

Assessment of potential losses on accrued non-interest income

56842

Assessment of potential losses on microloans, microcredits, and microleasing (financial lease) in litigation

56895

Assessment of potential losses on other assets

56900

Assessment of profit tax

56902

Assessment of profit tax

90000

OFF-BALANCE SHEET ITEMS

90300

Securities

90329

Uncertificated securities of a microcredit organization in the form of a joint-stock company

90337

Purchased securities of a microcredit organization in the form of a joint-stock company

90900

Trade financing

90966

Purchased receivables — Factoring

90993

Guarantees and sureties

91500

Interest and brokerage fees on assets

91501

Accrued interest on granted microloans, microcredits, and microleasing

91505

Interest and brokerage fees on other assets

91700

Obligations of the microcredit organization to grant microloans, microcredits, and microleasing

91709

Obligation of the microcredit organization to grant microloans, microcredits, and microleasing

91800

Obligations of the microcredit organization for credit and leasing (financial lease)

91816

Obligation of the microcredit organization to obtain credit and leasing (financial lease)

91900

Obligations of debtors for microloans, microcredits, and microleasing

91901

Obligations of debtors for short-term microloans, microcredits, and microleasing

91905

Obligations of debtors for long-term microloans, microcredits, and microleasing

94500

Securities, property, and property rights (claims) as collateral

94501

Securities received as collateral

94502

Property and property rights (claims) received as collateral

94503

Guarantees and sureties received as collateral

95400

Other off-balance sheet accounts

95413

Written-off microloans, microcredits, and microleasing

95497

Other off-balance sheet accounts

96300

Off-balance sheet contra-accounts

96314

Contra-account for securities of the microcredit organization

96331

Contra-account for purchased receivables — Factoring

96335

Contra-account for interest and brokerage fees on assets

96337

Contra-account for guarantees and sureties

96345

Contra-account for obligations of debtors for short-term microloans, microcredits, and microleasing

96349

Contra-account for obligations of debtors for long-term microloans, microcredits, and microleasing

96351

Contra-account for the obligation of the microcredit organization to grant microloans, microcredits, and microleasing

96358

Contra-account for the obligation of the microcredit organization to obtain credit and leasing (financial lease)

96381

Contra-account for securities, property, and property rights (claims) received as collateral

96397

Contra-account for other off-balance sheet accounts

III. Definitions of Accounts

Code

Name

10000

ASSETS

10100

CASH IN HAND

10101

Cash funds in the cash register

Definition of the account: Accounting is maintained for cash funds in the form of banknotes and coins in the cash register of the microcredit organization. The procedure for carrying out cash operations is regulated by the Central Bank of the Republic of Uzbekistan.

The debit of the account reflects the amount of cash funds received into the cash register of the microcredit organization. The credit of the account reflects the amount of cash funds paid out from the cash register of the microcredit organization, as well as excess cash funds handed over to the servicing bank. Analytical accounting is carried out in separate personal accounts.

10109

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Cash in Transit

Definition of the Account: Accounting is maintained for cash in transit, checks, and other payment documents.

Debit of the Account Reflects the amount of cash, checks, and other payment documents sent to the bank and other credit institutions.

Credit of the Account Accounting for cash, checks, and other payment documents is written off based on the confirmation from the receiving bank that they have been accepted into the cash desk.

Analytical Accounting Is carried out in separate personal accounts for the receiving bank, as well as for the type of cash, checks, and other payment documents.

10500

DEPOSITS AND OTHER FUNDS PLACED WITH BANKS

10503

Deposits placed with banks payable on demand

Definition of the Account: Accounting is maintained for the microcredit organization's deposits placed with banks payable on demand.

Debit of the Account Reflects the amount of deposits placed with banks payable on demand.

Credit of the Account Reflects the amount of deposits payable on demand written off from the account.

Analytical Accounting Is carried out in separate personal accounts for banks.

10505

Reserve deposits placed with banks

Definition of the Account: Accounting is maintained for the microcredit organization's reserve deposits placed with banks.

Debit of the Account Reflects the amount of reserve deposits placed with banks.

Credit of the Account Reflects the amount of reserve deposits written off from the account.

Analytical Accounting Is carried out in separate personal accounts for banks.

10507

Term deposits placed with banks

Definition of the Account: Accounting is maintained for the microcredit organization's term deposits placed with banks.

Debit of the Account Reflects the amount of term deposits placed with banks.

Credit of the Account Reflects the amount of term deposits written off from the account.

Analytical Accounting Is carried out in separate personal accounts for banks and types of deposits.

10509

Cashless funds in transit

Definition of the Account: This account reflects the amount of cashless funds that are to be credited to the microcredit organization's deposit account at the bank but have not yet arrived.

Debit of the Account Reflects cashless funds of the microcredit organization that are to be credited to the deposit account at the bank but have not yet arrived.

Credit of the Account Reflects the write-off of the amount of cashless funds based on the copy of the deposit account received from the bank.

Analytical Accounting Is carried out in separate personal accounts for each customer.

10597

Other funds placed with banks

Definition of the Account: Accounting is maintained for the microcredit organization's funds placed with banks that do not fit the definitions of the categories indicated above.

Debit of the Account Reflects the amount of other funds placed with banks.

Debit of the Account Reflects the amount of other funds written off from the account.

Analytical Accounting Is carried out in separate personal accounts for each bank and type of deposit.

11100

ACQUIRED DEBTOR DEBTS — FACTORING

11101

Acquired debtor debts — Factoring

Definition of the Account: Accounting is maintained for debtor debts acquired by the microcredit organization — payment demands submitted for collection by its customers (product suppliers) for shipped goods, performed work, and rendered services.

Debit of the Account Reflects the nominal value of customers' debtor debts acquired by the microcredit organization.

Credit of the Account Reflects the value of debtor debts paid by debtors, reclassified and transferred to accounts 11103 — "Overdue acquired debtor debts — Factoring" and 11105 — "Acquired debtor debts in court proceedings — Factoring", as well as the value of debtor debts written off for other persons.

Analytical Accounting Is carried out in separate personal accounts for each contract.

11103

Overdue acquired debtor debts — Factoring

Definition of the Account: Accounting is maintained for acquired debtor debts classified as overdue in accordance with established rules.

Debit of the Account Reflects the full and/or unpaid value of debtor debts acquired by the microcredit organization, reclassified and transferred from account 11101 — "Acquired debtor debts — Factoring" to this account.

Credit of the Account Reflects the amount of debtor debts paid or written off by debtors, as well as the value of acquired overdue debtor debts reclassified and transferred to account 11105 — "Acquired debtor debts in court proceedings — Factoring".

Analytical Accounting Is carried out in separate personal accounts for each contract.

11105

Acquired debtor debts in court proceedings — Factoring

Definition of the Account: Accounting is maintained for debtor debts acquired by the microcredit organization that are in court proceedings.

Debit of the Account Reflects the full and/or unpaid value of debtor debts acquired by the microcredit organization, reclassified and transferred from accounts 11101 — "Acquired debtor debts — Factoring" and 11103 — "Overdue acquired debtor debts — Factoring" to this account.

Credit of the Account Reflects the amount of debtor debts covered or written off by debtors.

Analytical Accounting Is carried out in separate personal accounts for each contract.

11195

Discount (counter-asset) on acquired debtor debts — Factoring

Definition of the Account: Accounting is maintained for the negative difference, i.e., the discount, between the full nominal value of acquired debtor debts and their purchase price.

Credit of the Account Reflects the discount amount when the microcredit organization acquires a debtor debt at a price lower than its full nominal value.

Debit of the Account Reflects the discount amount written off due to discount amortization, as well as as a result of partial or full coverage of debtor debts by the debtor, or written off for other persons.

Analytical Accounting Is carried out in separate personal accounts for each contract.

11199

Reserve for possible losses on acquired debtor debts — Factoring (counter-asset)

Definition of the Account: Accounting is maintained for a reserve established to cover possible losses on acquired debtor debts where the amount has not been collected and/or there is doubt about the collectability of the amount in valuation.

Credit of the Account Reflects the amount of the established reserve and/or the increase in the reserve amount.

Debit of the Account Reflects the decrease in the reserve amount and/or the amount of the cancelled reserve.

Analytical Accounting Is carried out in separate personal accounts for each contract.

12400

SHORT-TERM MICROLOANS EXTENDED TO INDIVIDUALS

12401

Short-term microloans extended to individuals

Definition of the Account: Accounting is maintained for microloans extended to individuals for a term of up to 1 year from the date of issuance.

Debit of the Account Reflects the amount of microloans issued.

Credit of the Account Reflects the amount of microloans covered and/or reclassified under another status.

Analytical Accounting Is carried out in separate personal accounts for each debtor based on microloan contracts.

12405

Overdue microloans extended to individuals

Definition of the Account: Accounting is maintained for short-term and long-term microloans extended to individuals that have not been paid (covered) within the specified term.

Debit of the Account Reflects the amount of microloans extended to individuals that have not been paid within the term, reclassified and transferred from accounts 12401 — "Short-term microloans extended to individuals", 12409 — "Short-term microloans with restructured terms extended to individuals", 14801 — "Long-term microloans extended to individuals", and 14809 — "Long-term microloans with restructured terms extended to individuals" to this account.

Credit of the Account Reflects the amount paid by debtors, reclassified under another status of microloans, and/or written off from reserve 12499 — "Reserve for possible losses on short-term microloans extended to individuals" to cover possible losses.

Analytical Accounting Is carried out in separate personal accounts for each debtor based on microloan contracts.

12409

Short-term microloans with restructured terms extended to individuals

Definition of the Account: Accounting is maintained for short-term microloans extended to individuals whose main terms have been changed in accordance with the microloan contract and additional agreements thereto.

Debit of the Account Reflects the amount of microloans with restructured terms extended to individuals, reclassified and transferred from accounts 12401 — "Short-term microloans extended to individuals" and 12405 — "Overdue microloans extended to individuals" to this account.

Credit of the Account Reflects the amount of microloans paid, reclassified, and/or written off from reserve 12499 — "Reserve for possible losses on short-term microloans extended to individuals" to cover possible losses.

Analytical Accounting Is carried out in separate personal accounts for each debtor based on microloan contracts.

12499

Reserve for possible losses on short-term microloans extended to individuals (counter-asset)

Definition of the Account: Accounting is maintained for a reserve for possible losses on short-term microloans extended to individuals by the microcredit organization where there is a possibility of non-collection.

Credit of the Account Reflects the amount of the established reserve and/or the increase in the reserve amount.

Debit of the Account Reflects the decrease in the reserve amount and/or the amount of the cancelled reserve.

Analytical Accounting Is carried out in separate personal accounts for each debtor based on microloan contracts.

12500

SHORT-TERM MICROCREDITS EXTENDED TO SOLE PROPRIETORS

12501

Short-term microcredits extended to sole proprietors

Definition of the Account: Accounting is maintained for microcredits extended to sole proprietors for a term of up to 1 year from the date of issuance.

Debit of the Account Reflects the amount of microcredits issued.

Credit of the Account Reflects the amount of microcredits covered and/or reclassified under another status.

Analytical Accounting Is carried out in separate personal accounts for each debtor based on microcredit contracts.

12505

Overdue microcredits extended to sole proprietors

Definition of the Account: Accounting is maintained for short-term and long-term microcredits extended to sole proprietors that have not been paid (covered) within the specified term.

Debit of the Account Reflects the amount of microcredits extended to sole proprietors that have not been paid within the term, reclassified and transferred from accounts 12501 — "Short-term microcredits extended to sole proprietors", 12509 — "Short-term microcredits with restructured terms extended to sole proprietors", 14901 — "Long-term microcredits extended to sole proprietors", and 14909 — "Long-term microcredits with restructured terms extended to sole proprietors" to this account.

Credit of the Account Reflects the amount paid by debtors, reclassified under another status of microcredits, and/or written off from reserve 12599 — "Reserve for possible losses on short-term microcredits extended to sole proprietors" to cover possible losses.

Analytical Accounting Is carried out in separate personal accounts for each debtor based on microcredit contracts.

12509

Short-term microcredits with restructured terms extended to sole proprietors

Definition of the Account: Accounting is maintained for short-term microcredits extended to sole proprietors whose main terms have been changed in accordance with the microcredit contract and additional agreements thereto.

Debit of the Account Reflects the amount of microcredits with restructured terms extended to sole proprietors, reclassified and transferred from accounts 12501 — "Short-term microcredits extended to sole proprietors" and 12505 — "Overdue microcredits extended to sole proprietors" to this account.

Credit of the Account Reflects the amount of microcredits paid, reclassified, and/or written off from reserve 12599 — "Reserve for possible losses on short-term microcredits extended to sole proprietors" to cover possible losses.

Analytical Accounting Is carried out in separate personal accounts for each debtor based on microcredit contracts.

12599

Reserve for possible losses on short-term microcredits extended to sole proprietors (counter-asset)

Definition of the Account: Accounting is maintained for a reserve for possible losses on short-term microcredits extended to sole proprietors by the microcredit organization where there is a possibility of non-collection.

Credit of the Account Reflects the amount of the established reserve and/or the increase in the reserve amount.

Debit of the Account Reflects the decrease in the reserve amount and/or the amount of the cancelled reserve.

Analytical Accounting Is carried out in separate personal accounts for each debtor based on microcredit contracts.

12700

SHORT-TERM MICROCREDITS EXTENDED TO LEGAL ENTITIES

12701

Short-term microcredits extended to legal entities

Definition of the Account: Accounting is maintained for microcredits extended to legal entities for a term of up to 1 year from the date of issuance.

Debit of the Account Reflects the amount of microcredits issued.

Credit of the Account Reflects the amount of microcredits covered and/or reclassified under another status.

Analytical Accounting Is carried out in separate personal accounts for each debtor based on microcredit contracts.

12705

Overdue microcredits extended to legal entities

Definition of the Account: Accounting is maintained for short-term and long-term microcredits extended to legal entities that have not been paid within the specified term.

Debit of the Account Reflects the amount of all microcredits extended to legal entities that have not been paid within the term, reclassified and transferred from accounts 12701 — "Short-term microcredits extended to legal entities", 12709 — "Short-term microcredits with restructured terms extended to legal entities", 15101 — "Long-term microcredits extended to legal entities", and 15109 — "Long-term microcredits with restructured terms extended to legal entities" to this account.

Credit of the Account Reflects the amount written off from reserve 12799 — "Reserve for possible losses on short-term microcredits extended to legal entities" under another status of microcredits, as well as the amount paid by debtors.

Analytical Accounting Is carried out in separate personal accounts for each debtor based on microcredit contracts.

12709

Short-term microcredits with restructured terms extended to legal entities

Definition of the Account: Accounting is maintained for short-term microcredits extended to legal entities whose main terms have been changed in accordance with the microcredit contract and additional agreements thereto.

Debit of the Account Reflects the amount of microcredits with restructured terms extended to legal entities, reclassified and transferred from accounts 12701 — "Short-term microcredits extended to legal entities" and 12705 — "Overdue microcredits extended to legal entities" to this account.

Credit of the Account Reflects the amount of covered microcredits reclassified and/or written off from reserve 12799 — "Reserve for possible losses on short-term microcredits extended to legal entities" to cover possible losses.

Analytical Accounting Is carried out in separate personal accounts for each debtor based on microcredit contracts.

12799

Reserve for possible losses on short-term microcredits extended to legal entities (counter-asset)

Definition of the Account: Accounting is maintained for a reserve for possible losses on short-term microcredits extended to legal entities by the microcredit organization where there is a possibility of non-collection.

Credit of the Account Reflects the amount of the established reserve or the increase in the reserve amount.

Debit of the Account Reflects the decrease in the reserve amount or the amount of the cancelled reserve.

Analytical Accounting Is carried out in separate personal accounts for each debtor based on microcredit contracts.

14800

LONG-TERM MICROLOANS EXTENDED TO INDIVIDUALS

14801

Long-term microloans extended to individuals

Definition of the Account: Accounting is maintained for microloans extended to individuals for a term of more than 1 year from the date of issuance.

Debit of the Account Reflects the amount of microloans issued.

Credit of the Account Reflects the amount of microloans paid and/or reclassified under another status.

Analytical Accounting Is carried out in separate personal accounts for each debtor based on microloan contracts.

14809

Long-term microloans with restructured terms extended to individuals

Definition of the Account: Accounting is maintained for long-term microloans extended to individuals whose main terms have been changed in accordance with the microloan contract and additional agreements thereto.

Debit of the Account Reflects the amount of microloans with restructured terms extended to individuals, reclassified and transferred from accounts 14801 — "Long-term microloans extended to individuals" and 12405 — "Overdue microloans extended to individuals" to this account.

Credit of the Account Reflects the amount of microloans paid, reclassified, and/or written off from reserve 14899 — "Reserve for possible losses on long-term microloans extended to individuals" to cover possible losses.

Analytical Accounting Is carried out in separate personal accounts for each debtor based on microloan contracts.

14899

Reserve for possible losses on long-term microloans extended to individuals (counter-asset)

Definition of the Account: Accounting is maintained for a reserve for possible losses on long-term microloans extended to individuals by the microcredit organization where there is a possibility of non-collection.

Credit of the Account Reflects the amount of the established reserve and/or the increase in the reserve amount.

Debit of the Account Reflects the decrease in the reserve amount and/or the amount of the cancelled reserve.

Analytical Accounting Is carried out in separate personal accounts for each debtor based on microloan contracts.

14900

LONG-TERM MICROCREDITS EXTENDED TO SOLE PROPRIETORS

14901

Long-term microcredits extended to sole proprietors

Definition of the Account: Accounting is maintained for microcredits extended to sole proprietors for a term of more than 1 year from the date of issuance.

Debit of the Account Reflects the amount of microcredits issued.

Credit of the Account Reflects the amount of microcredits paid and/or reclassified under another status.

Analytical Accounting Is carried out in separate personal accounts for each debtor based on microcredit contracts.

14909

Long-term microcredits with restructured terms extended to sole proprietors

Definition of the Account: Accounting is maintained for long-term microcredits extended to sole proprietors whose main terms have been changed in accordance with the microcredit contract and additional agreements thereto.

Debit of the Account Reflects the amount of microcredits with restructured terms extended to sole proprietors, reclassified and transferred from accounts 14901 — "Long-term microcredits extended to sole proprietors" and 12505 — "Overdue microcredits extended to sole proprietors" to this account.

Credit of the Account Reflects the amount of microcredits paid, reclassified, and/or written off from reserve 14999 — "Reserve for possible losses on long-term microcredits extended to sole proprietors" to cover possible losses.

Analytical Accounting Is carried out in separate personal accounts for each debtor based on microcredit contracts.

14999

Reserve for possible losses on long-term microcredits extended to sole proprietors (counter-asset)

Definition of the Account: Accounting is maintained for a reserve for possible losses on long-term microcredits extended to sole proprietors by the microcredit organization where there is a possibility of non-collection.

Credit of the Account Reflects the amount of the established reserve and/or the increase in the reserve amount.

Debit of the Account Reflects the decrease in the reserve amount and/or the amount of the cancelled reserve.

Analytical Accounting Is carried out in separate personal accounts for each debtor based on microcredit contracts.

15100

LONG-TERM MICROCREDITS EXTENDED TO LEGAL ENTITIES

15101

Long-term microcredits extended to legal entities

Definition of the Account: Accounting is maintained for microcredits extended to legal entities for a term of more than 1 year from the date of issuance.

Debit of the Account Reflects the amount of microcredits issued.

Credit of the Account Reflects the amount of microcredits paid and/or reclassified under another status.

Analytical Accounting Is carried out in separate personal accounts for each debtor based on microcredit contracts.

15109

Long-term microloans granted to legal entities with renegotiated terms

Definition of the account: Accounting is maintained for long-term microloans granted to legal entities whose main terms have been changed in accordance with the microloan contract and any supplementary agreements thereto.

Debit of the account Reflects the amount of microloans with renegotiated terms granted to legal entities, transferred from accounts 15101 — "Long-term microloans granted to legal entities" and 12705 — "Overdue microloans granted to legal entities" that have been reclassified to this account.

Credit of the account Reflects the amount of microloans written off from the reserve for covering possible losses arising from microloans granted to legal entities (account 15199 — "Reserve for covering possible losses on long-term microloans granted to legal entities") for paid, reclassified, and/or covered losses.

Analytical accounting Is maintained in separate personal accounts depending on the microloan contracts for each debtor.

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15199 Reserve for covering possible losses on long-term microloans granted to legal entities (contra-asset)

Definition of the account: Accounting is maintained for the reserve for covering possible losses arising from long-term microloans granted to legal entities by the microcredit organization which there is a possibility of not being recovered.

Credit of the account Reflects the amount of the established reserve and/or the increase in the reserve.

Debit of the account Reflects the amount of the decrease in the reserve and/or the reversed amount.

Analytical accounting Is maintained in separate personal accounts depending on the microloan contracts for each debtor.

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15600 MICROLEASING (FINANCIAL LEASE)

15607 Microleasing

Definition of the account: Accounting is maintained for sums receivable under microleasing granted by the microcredit organization.

Debit of the account Reflects the net investment amount under microleasing.

Credit of the account Reflects cash inflows upon repayment of the principal debt, as well as sums transferred to accounts 15617 — "Overdue microleasing" and 15619 — "Renegotiated microleasing" and other accounts provided for in the normative documents of the Central Bank.

Analytical accounting Is maintained in separate personal accounts for each microleasing contract.

15617 Overdue microleasing

Definition of the account: Accounting is maintained for overdue debts under microleasing.

Debit of the account Reflects the amount of overdue debt arising on the principal debt under microleasing, transferred from accounts 15607 — "Microleasing" and 15619 — "Renegotiated microleasing" that have been reclassified to this account.

Credit of the account Reflects the debt amount paid by the microleasing recipient or a third party, sums reclassified and transferred to another category, and/or sums written off from the account by debiting account 15699 — "Reserve for covering possible losses on microleasing" (contra-asset).

Analytical accounting Is maintained in separate personal accounts for each microleasing contract.

15619 Renegotiated microleasing

Definition of the account: Accounting is maintained for microleasing whose main terms have been changed in accordance with the microleasing contract and any supplementary agreements thereto.

Debit of the account Reflects the amount of renegotiated microleasing transferred from accounts 15607 — "Microleasing" and 15617 — "Overdue microleasing" that have been reclassified to this account.

Credit of the account Reflects the debt amount paid under microleasing, sums reclassified, and/or sums written off from the account by debiting account 15699 — "Reserve for covering possible losses on microleasing" (contra-asset).

Analytical accounting Is maintained in separate personal accounts for each microleasing contract.

15699 Reserve for covering possible losses on microleasing (contra-asset)

Definition of the account: Accounting is maintained for the reserve for covering possible losses arising from microleasing by the microcredit organization which there is a possibility of not being recovered.

Credit of the account Reflects the amount of the established reserve and/or the increase in the reserve.

Debit of the account Reflects the amount of the decrease in the reserve and/or the reversed amount.

Analytical accounting Is maintained in separate personal accounts for each microleasing contract.

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15700 MICROLOANS, MICROCREDITS AND MICROLEASES IN COURT PROCEEDINGS

15701 Microloans granted to individuals in court proceedings

15703 Microcredits granted to individual entrepreneurs in court proceedings

15707 Microcredits granted to legal entities in court proceedings

15709 Microleases in court proceedings

Since the balance sheet accounts indicated above are identical in their characteristics, their definitions are provided in a generalized manner.

Definition of the accounts: Accounting is maintained for microloans, microcredits, and microleases for which legal proceedings have been initiated.

Debit of the accounts Reflects the amount of microloans, microcredits, and microleases transferred from the main microloan, microcredit, and microlease accounts due to reclassification and because they are in court proceedings.

Credit of the accounts Reflects the amount of microloans, microcredits, and microleases recovered and/or covered from reserves in account 15799 — "Reserve for covering possible losses on microloans, microcredits and microleases in court proceedings".

Analytical accounting Is maintained in separate personal accounts depending on the microloan, microcredit, and microlease contracts for each debtor.

15799 Reserve for covering possible losses on microloans, microcredits and microleases in court proceedings (contra-asset)

Definition of the account: Accounting is maintained for the reserve created for covering possible losses arising from microloans, microcredits, and microleases in court proceedings by the microcredit organization which there is a possibility of not being recovered.

Credit of the account Reflects funds transferred to this account from respective reserve accounts established for covering possible losses on microloans, microcredits, and microleases undergoing reclassification, and/or the increase in the reserve.

Debit of the account Reflects the amount of the decrease in the reserve and/or the reversed amount.

Analytical accounting Is maintained in separate personal accounts depending on the microloan, microcredit, and microlease contracts for each debtor.

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16100 FUNDS RECEIVABLE FROM HEAD OFFICE AND/OR BRANCHES

16102 Funds receivable from head office and/or branches — Financial funds

Definition of the account: Accounting is maintained for operations related to financial funds between the Head Office and branches of a microcredit organization located within the territory of the Republic of Uzbekistan, or between branches of one microcredit organization. For this account, account 22203 — "Funds payable to head office and/or branches — Financial funds" is considered a reciprocal matching account. The turnover and balance amounts of these accounts must be equal to each other, and there must be no balance for these accounts in the consolidated balance sheet.

Debit of the account Reflects the amount of financial funds granted to the Head Office and/or branches.

Credit of the account Reflects the amount of financial funds paid to the Head Office and/or branches, financial funds returned due to incorrect transfer, as well as the total amount of all transfers closed at the Head Office of the microcredit organization.

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

16104 Funds receivable from head office and/or branches — Other assets

Definition of the account: Accounting is maintained for operations on other assets within one microcredit organization between branches and the Head Office and/or branches, and for other assets granted to the Head Office and/or branches (fixed assets, intangible assets, material valuables). For this account, account 22205 — "Funds payable to head office and/or branches — Other assets" is the reciprocal matching account. The turnover and balance amounts of these accounts must be equal to each other, and there must be no balance for these accounts in the consolidated balance sheet.

Debit of the account Reflects the amount of other assets delivered to the Head Office and/or branches.

Credit of the account Reflects debts payable to the Head Office and/or branches within specified deadlines.

Analytical accounting Is maintained in separate personal accounts for the Head Office and branches.

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16300 ACCRUED INTEREST RECEIVABLE

16301 Accrued interest receivable on deposits in banks

Definition of the account: Accounting is maintained for accrued interest receivable on the microcredit organization's deposits in banks and other accounts.

Debit of the account Reflects the amount of accrued but not yet received interest receivable.

Credit of the account Reflects the amount of interest paid (covered) and/or written off, as well as the return amount of incorrectly calculated interest.

Analytical accounting Is maintained in separate personal accounts for each bank.

16307 Accrued interest receivable on microloans

Definition of the account: Accounting is maintained for accrued interest receivable on microloans granted by the microcredit organization to customers.

Debit of the account Reflects the amount of accrued but not yet received interest receivable.

Credit of the account Reflects the amount of interest paid (covered) and/or written off, as well as the return amount of incorrectly calculated interest.

Analytical accounting Is maintained in separate personal accounts for each debtor.

16309 Accrued interest receivable on microcredits

Definition of the account: Accounting is maintained for accrued interest receivable on microcredits granted by the microcredit organization to customers.

Debit of the account Reflects the amount of accrued but not yet received interest receivable.

Credit of the account Reflects the amount of interest paid (covered) and/or written off, as well as the return amount of incorrectly calculated interest.

Analytical accounting Is maintained in separate personal accounts for each debtor.

16323 Accrued interest receivable on microleasing (financial lease)

Definition of the account: Accounting is maintained for accrued interest receivable on microleases granted by the microcredit organization to customers.

Debit of the account Reflects the amount of accrued but not yet received interest receivable.

Credit of the account Reflects the amount of interest paid (covered) and/or written off, as well as the return amount of incorrectly calculated interest.

Analytical accounting Is maintained in separate personal accounts for each debtor.

16377 Overdue accrued interest

Definition of the account: Accounting is maintained for interest calculated for receipt under a credit contract but not paid on time.

Debit of the account Reflects the amount of interest calculated for receipt under the contract but not paid on time.

Credit of the account Reflects the amount of interest paid (covered) and/or written off.

Analytical accounting Is maintained in separate personal accounts for each debtor.

16397 Other accrued interest receivable

Definition of the account: Accounting is maintained for accrued interest receivable on other obligations granted by the microcredit organization to customers.

Debit of the account Reflects the amount of accrued but not yet received interest receivable.

Credit of the account Reflects the amount of interest paid (covered) and/or written off, as well as the return amount of incorrectly calculated interest.

Analytical accounting Is maintained in separate personal accounts for each debtor.

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16400 ACCRUED NON-INTEREST INCOME

16401 Payments accrued for services rendered

Definition of the account: Accounting is maintained for the sum of service fees accrued but not yet received.

Debit of the account Reflects the amount of accrued service fees.

Credit of the account Reflects the return amount of fees paid (covered) and/or written off, as well as incorrectly accrued service fees.

Analytical accounting Is maintained in separate personal accounts by type of service fee.

16405 Accrued fines and penalties

Definition of the account: Accounting is maintained for the sum of fines and penalties accrued for credits and services rendered but not yet received.

Debit of the account Reflects the amount of fines and penalties calculated for receipt.

Credit of the account Reflects the return amount of fines and penalties collected and/or written off, as well as incorrectly calculated fines and penalties.

Analytical accounting Is maintained in separate personal accounts for customers.

16409 Income accrued on operating leases

Definition of the account: Accounting is maintained for income accrued on operating leases but not yet received.

Debit of the account Reflects the amount of income receivable on operating leases.

Credit of the account Reflects payments to be received and/or the amount written off.

Analytical accounting Is maintained in separate personal accounts for each contract.

16413 Other accrued non-interest income

Definition of the account: Accounting is maintained for other non-interest income accrued but not yet received.

Debit of the account Reflects the amount of other accrued non-interest income.

Credit of the account Reflects the return amount of other non-interest income paid (covered) and/or written off, as well as incorrectly calculated other non-interest income.

Analytical accounting Is maintained in separate personal accounts for each contract.

16499 Reserve for covering possible losses on accrued non-interest income (contra-asset)

Definition of the account: Accounting is maintained for the reserve created for losses that may arise due to the inability to recover accrued non-interest income receivable.

Credit of the account Reflects the valuation amount of the established reserve and/or its increase amount.

Debit of the account Reflects the amount of the decrease in the reserve and/or the reversed amount.

Analytical accounting Is maintained in separate personal accounts for reserves established by asset type.

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16500 FIXED ASSETS

16501 Land

Definition of the account: Accounting is maintained for the value of land granted for use or purchased with usage rights in accordance with legislation for microcredit organizations. When purchasing land, additional expenses, i.e., real estate brokerage fees, payment for legal services, taxes upon purchase, land cleaning and leveling costs, are also reflected in the debit of the account as part of the land's value.

Debit of the account Reflects the value of purchased land according to land cadastre data.

Credit of the account Reflects the value of land written off from the account.

Analytical accounting Is maintained in separate personal accounts for each land plot (site).

16505 Incomplete construction

Definition of the account: Accounting is maintained for the cost of all expenses together with additional expenses related to the construction of buildings, structures, installation of equipment, and other fixed assets.

Debit of the account Reflects expenses related to reconstruction or restoration of fixed assets, all construction-related expenses, as well as corrections introduced as a result of revaluation.

Credit of the account Reflects the cost of completed construction or reconstruction, as well as losses arising from impairment and corrections introduced as a result of revaluation.

Analytical accounting Is maintained in separate personal accounts by type of fixed asset (object).

16509 Buildings and other structures of the microcredit organization

Definition of the account: Accounting is maintained for the value of buildings (service buildings, warehouse, garage, kitchen, training center, social infrastructure facilities) belonging to the microcredit organization and necessary for its activity and full operation, as well as other structures.

Debit of the account Accounting is maintained for the value of constructed buildings and other structures and/or the value of purchased buildings and other structures taking into account their acquisition expenses, subsequent expenses meeting acceptance criteria as assets, and the amount of corrections introduced as a result of revaluation.

Credit of the account Reflects the value of buildings and other structures being sold and/or written off from the account by other means, as well as the amount of corrections introduced as a result of revaluation.

Analytical accounting Is maintained in separate personal accounts for each building (structure).

16511 Accumulated depreciation of buildings and other structures of the microcredit organization (contra-asset)

Definition of the account: The sum of accumulated depreciation and accumulated losses resulting from impairment of buildings and other structures is taken into account. Here, it is calculated monthly based on norms established by legislation and accepted methods of calculating depreciation.

Credit of the account Reflects the depreciation amount of buildings and other structures, losses arising from impairment, and corrections introduced as a result of revaluation.

Debit of the account Reflects the accumulated depreciation amount of buildings and other structures being sold and/or written off from the account by other means, as well as corrections introduced as a result of revaluation.

Analytical accounting Is maintained in separate personal accounts for each building (structure).

16515 Right to lease objects and improve them

Definition of the account: Accounting is maintained for the value of fixed assets (buildings, structures, land, transport, etc.) obtained by the microcredit organization under leasing (financial lease), and expenses for improving leased property used under financial and/or operating leases.

Debit of the account Reflects the value of leased objects taking into account all expenses related to the right to lease, as well as the value and corrections introduced as a result of revaluation related to reconstruction and improvement of objects to be leased.

Credit of the account Reflects the value and corrections introduced as a result of revaluation related to the return of leased fixed assets to the lessor upon expiration of the lease term or cancellation of the lease right, or when purchased by the microcredit organization after the expiration of the lease term, and sold and/or reclassified leased property improvement.

Analytical accounting Is maintained in separate personal accounts for each leased object.

16519 Accumulated depreciation on the right to lease objects and improve them (contra-asset)

Definition of the account: Accounting is maintained for the accumulated depreciation amount and accumulated losses arising from impairment of fixed assets (buildings, structures, land, transport, etc.) leased by the microcredit organization.

Credit of the account Reflects the depreciation amount of leased objects, losses arising from impairment, and corrections introduced as a result of revaluation.

Debit of the account Reflects the accumulated depreciation amount of leased objects returned to the lessor upon expiration of the lease term or cancellation of the lease right, or when purchased by the microcredit organization upon expiration of the lease term, as well as corrections introduced as a result of revaluation.

Analytical accounting Is maintained in separate personal accounts for each leased object.

16529 Transport vehicles

Definition of the account: The value of transport vehicles (cars, trucks, and other movable assets) purchased for use in the work of the microcredit organization is taken into account.

Debit of the account Reflects the value of transport vehicles taking into account all expenses related to their purchase, subsequent expenses meeting acceptance criteria as assets, and the amount of corrections introduced as a result of revaluation.

Credit of the account Reflects the value of transport vehicles being sold and/or written off from the account by other means, as well as the amount of corrections introduced as a result of revaluation.

Analytical accounting Is maintained in separate personal accounts by type of transport vehicle.

16531 Accumulated depreciation of transport vehicles (contra-asset)

Definition of the account: The accumulated depreciation amount and accumulated losses arising from impairment of transport vehicles purchased for use in operational activities by the microcredit organization are taken into account.

Credit of the account Reflects the depreciation amount of transport vehicles, losses arising from impairment, and the amount of corrections introduced as a result of revaluation.

Debit of the account Reflects the accumulated depreciation amount of transport vehicles being sold and/or written off from the account, as well as the amount of corrections introduced as a result of revaluation.

Analytical accounting Is maintained in separate personal accounts for each transport vehicle.

16535 Furniture, fixtures and equipment

Definition of the account: The value of furniture, computers, equipment for buildings, office and other equipment purchased by the microcredit organization for operational activities is taken into account.

Debit of the account Reflects the value of furniture, fixtures, and equipment taking into account all expenses related to their purchase, delivery, and installation, subsequent expenses meeting acceptance criteria as assets, and the amount of corrections introduced as a result of revaluation.

Credit of the account Reflects the value of furniture, fixtures, and equipment being sold and/or written off from the account by other means, as well as the amount of corrections introduced as a result of revaluation.

Analytical accounting Is maintained in separate personal accounts for each type of fixed asset.

16539

Accumulated Depreciation of Furniture, Equipment, and Fixtures (Counter-Asset)

Definition of the Account: The accumulated depreciation of furniture, equipment, and fixtures purchased for use in the operational activities of the microcredit organization, as well as the amount of losses incurred due to impairment, is taken into account.

On the Credit of the Account: The amount of depreciation assessment of furniture, equipment, and fixtures, losses incurred due to impairment, as well as the amount of adjustments made as a result of revaluation, are reflected.

On the Debit of the Account: The accumulated depreciation of furniture, equipment, and fixtures being sold and/or written off from the accounts by other means, as well as the amount of adjustments made as a result of revaluation, are reflected.

Analytical Accounting: It is carried out in separate personal accounts for each type of fixed assets.

16549

Fixed Assets Leased Out on Operating Leases

Definition of the Account: The value of fixed assets (excluding real estate) leased out on operating leases is taken into account.

On the Debit of the Account: The value of fixed assets leased out (excluding real estate) that meet the criteria for recognition as assets, subsequent costs, as well as the amount of adjustments made as a result of revaluation, are reflected.

On the Credit of the Account: The value of fixed assets returned as a result of the expiration of the lease term and/or cancellation of the lease agreement, as well as the value of fixed assets acquired by the lessee after the expiration of the lease term and the amount of adjustments made as a result of revaluation, are reflected.

Analytical Accounting: It is carried out in separate personal accounts for each leased fixed asset.

16551

Accumulated Depreciation of Fixed Assets Leased Out on Operating Leases (Counter-Asset)

Purpose of the Account: Accounting is maintained for the accumulated depreciation of fixed assets leased out on operating leases and the accumulated losses resulting from their impairment.

On the Credit of the Account: The amount of depreciation assessment of leased fixed assets, losses incurred due to impairment, as well as the amount of adjustments made as a result of revaluation, are reflected.

On the Debit of the Account: The accumulated depreciation of fixed assets leased out, which are returned as a result of the expiration of the lease term or cancellation of the lease right, or acquired by the lessee upon expiration of the term, is written off, as well as the amount of adjustments made as a result of revaluation, are reflected.

Analytical Accounting: It is carried out in separate personal accounts for each leased fixed asset.

16561

Fixed Assets in Storage

Definition of the Account: The value of fixed assets purchased by the microcredit organization and stored in storage until they are put into operation, as well as after being taken out of operation, is taken into account.

On the Debit of the Account: The value of fixed assets reflected as purchased and stored in storage, as well as the amount of adjustments made as a result of revaluation, are reflected.

On the Credit of the Account: The value of fixed assets put into operation or written off from the accounts, as well as the amount of adjustments made as a result of revaluation, are reflected.

Analytical Accounting: It is carried out in separate personal accounts for each type of fixed asset.

16563

Accumulated Depreciation of Fixed Assets in Storage (Counter-Asset)

Definition of the Account: The accumulated depreciation of fixed assets in storage and the amount of adjustments made as a result of revaluation are taken into account.

On the Credit of the Account: The depreciation value of fixed assets in storage, losses arising as a result of impairment, and the amount of adjustments made as a result of revaluation are reflected.

On the Debit of the Account: The write-off of the accumulated depreciation of fixed assets to be put into operation, sold, and/or written off from the accounts by other means, as well as the amount of adjustments made as a result of revaluation, are reflected.

Analytical Accounting: It is carried out in separate personal accounts for each type of fixed assets in storage.

16575

Fixed Assets Pledged for Obtained Loans

Definition of the Account: Accounting is maintained for fixed assets pledged by the microcredit organization for obtained loans.

On the Debit of the Account: The value of fixed assets pledged as collateral for loans obtained by the microcredit organization, as well as the amount of adjustments made as a result of revaluation, are reflected.

On the Credit of the Account: The value of fixed assets used to cover unpaid loans, as well as fixed assets used to cover the loan and at the expiration of the loan contract term, and the amount of adjustments made as a result of revaluation, are reflected.

Analytical Accounting: It is carried out in separate personal accounts for each pledged fixed asset.

16579

Accumulated Depreciation of Fixed Assets Pledged for Obtained Loans (Counter-Asset)

Purpose of the Account: Accounting is maintained for the accumulated depreciation of fixed assets pledged by the microcredit organization for obtained loans.

On the Credit of the Account: The amount of depreciation assessment of fixed assets pledged for obtained loans, losses incurred due to impairment, as well as the amount of adjustments made as a result of revaluation, are reflected.

On the Debit of the Account: The write-off of the accumulated depreciation of pledged fixed assets used to cover unpaid loans by the creditor, as well as the amount of adjustments made as a result of revaluation, are reflected.

Analytical Accounting: It is carried out in separate personal accounts for each type of pledged fixed assets.

16600

INTANGIBLE ASSETS

16601

Intangible Assets

Definition of the Account: The value of intangible assets such as software, copyright, and patents is taken into account.

On the Debit of the Account: The value including all costs associated with the acquisition of intangible assets, as well as the value of intangible assets ready for operation and the amount of adjustments made as a result of revaluation, are reflected.

On the Credit of the Account: The value of intangible assets being sold and/or written off from the accounts by other means, as well as the amount of adjustments made as a result of revaluation, are reflected.

Analytical Accounting: It is carried out in separate personal accounts for each type of intangible assets.

16605

Accumulated Depreciation of Intangible Assets (Counter-Asset)

Definition of the Account: The accumulated depreciation of intangible assets and losses accumulated as a result of impairment are taken into account.

On the Credit of the Account: The amortization amount of intangible assets, losses incurred due to impairment, as well as the amount of adjustments made as a result of revaluation, are reflected.

On the Debit of the Account: The accumulated depreciation of intangible assets being sold and/or written off from the accounts by other means, as well as the amount of adjustments made as a result of revaluation, are reflected.

Analytical Accounting: It is carried out in separate personal accounts for each type of intangible assets.

16609

Intangible Assets in the Process of Installation and Creation

Definition of the Account: Costs for intangible assets that are not ready for operation and are in the process of installation and/or creation are taken into account.

On the Debit of the Account: The value including all costs associated with the installation and/or creation of intangible assets not ready for operation, as well as the amount of adjustments made as a result of revaluation, are reflected.

On the Credit of the Account: The value of intangible assets being put into operation, sold, and/or written off from the accounts by other means, as well as the amount of adjustments made as a result of revaluation, are reflected.

Analytical Accounting: It is carried out in separate personal accounts for each type of intangible assets.

16617

Goodwill

Definition of the Account: Goodwill arising as a result of the merger or acquisition of economic entities is taken into account.

On the Debit of the Account: The amount exceeding the actual value of the net assets of economic entities acquired as a result of the merger or acquisition is reflected.

On the Credit of the Account: The impairment and/or write-off of goodwill are reflected.

Analytical Accounting: It is carried out in separate personal accounts for each economic entity.

16699

Reserve for Possible Losses on Intangible Assets in the Process of Installation and Creation (Counter-Asset)

Definition of the Account: Accounting is maintained for the reserve for losses on the impairment of intangible assets in the process of installation and/or creation.

On the Credit of the Account: Losses arising as a result of impairment and the amount of adjustments made as a result of revaluation are reflected.

On the Debit of the Account: The write-off of losses on the impairment of intangible assets being put into operation and/or written off from the accounts by other means, as well as the amount of adjustments made as a result of revaluation, are reflected.

Analytical Accounting: It is carried out in separate personal accounts for each type of intangible assets.

16700

REAL ESTATE AND OTHER PRIVATE PROPERTY

16701

Real Estate and Other Private Property

Definition of the Account: Property for which the microcredit organization has exercised ownership rights through foreclosure from debtors and microleasing borrowers, as well as other private property not used in the activities of the microcredit organization or as an investment in real estate, is taken into account.

On the Debit of the Account: The value is reflected, whichever is lower: the net book value of the microcredit and microleasing, or the actual value of the property recovered from debtors and microleasing borrowers.

On the Credit of the Account: The value of property sold, disposed of, and/or reclassified is reflected.

Analytical Accounting: It is carried out in separate personal accounts for each type of property.

16707

Accumulated Depreciation of Real Estate and Other Private Property (Counter-Asset)

Definition of the Account: Accounting is maintained for the accumulated depreciation of real estate and other private property for which the microcredit organization has exercised ownership rights through foreclosure from debtors and microleasing borrowers, as well as other private property not used in the activities of the microcredit organization or as an investment in real estate.

On the Credit of the Account: The accumulated depreciation of real estate and other private property is reflected.

On the Debit of the Account: The depreciation value of real estate being sold or written off from the accounts by other means is reflected.

Analytical Accounting: It is carried out in separate personal accounts for each real estate and other private property.

16799

Reserve for Possible Losses on Real Estate and Other Private Property (Counter-Asset)

Definition of the Account: Accounting is maintained for the reserve created to cover possible losses on real estate and other private property.

On the Credit of the Account: The amount of the established reserve and/or the increase in the reserve amount are reflected.

On the Debit of the Account: The decrease in the reserve amount and/or the amount of the cancelled reserve are reflected.

Analytical Accounting: It is carried out in separate personal accounts for each type of property.

19900

OTHER ASSETS

19901

Small Expenses

Definition of the Account: Receivable amounts issued for small expenses in the established order are taken into account.

On the Debit of the Account: Amounts issued as receivables for small expenses are reflected.

On the Credit of the Account: The return of unused funds, as well as the settlement of receivable amounts, are reflected.

Analytical Accounting: It is carried out in separate personal accounts for each debtor person.

19907

Prepaid Expenses for Services

Definition of the Account: Prepaid expenses (not exceeding 1 year) for services rendered (advances for postage, telegraph, telephone communication, water, electricity, gas, repair, etc.) are taken into account.

On the Debit of the Account: The amount of prepaid expenses for services rendered is reflected.

On the Credit of the Account: The amounts payable and written off when services are actually performed are reflected.

Analytical Accounting: It is carried out in separate personal accounts for each contract.

19908

Receivables from Microcredit Organization Employees

Definition of the Account: Advances for business trip expenses, funds paid as over-calculated salary or bonus (fee) to microcredit organization employees, as well as damage caused by the responsible person are taken into account.

On the Debit of the Account: Amounts calculated and paid to employees are reflected.

On the Credit of the Account: The settlement of calculated and paid amounts is reflected.

Analytical Accounting: It is carried out in separate personal accounts for each employee.

19909

Account for Funds Paid for Goods and Services Rendered

Definition of the Account: Funds transferred for material and commodity values (under this rule, advances for fixed assets, low-value and fast-wearing items, and other material and commodity values) are taken into account.

On the Debit of the Account: Funds transferred for material and commodity values are reflected.

On the Credit of the Account: The amounts payable or written off when material and commodity values are received into storage are reflected.

Analytical Accounting: It is carried out in separate personal accounts for each contract.

19911

Reserve for Possible Losses on Receivables (Counter-Asset)

Definition of the Account: The reserve for possible losses on receivables that may not be collected by the microcredit organization is taken into account.

On the Credit of the Account: The amount of the established reserve and/or the increase in the reserve amount are reflected.

On the Debit of the Account: The decrease in the reserve amount and/or the amount of the cancelled reserve are reflected.

Analytical Accounting: It is carried out in separate personal accounts for each debtor.

19921

Low-Value and Fast-Wearing Items and Other Valuables in Storage

Definition of the Account: Accounting is maintained for low-value and fast-wearing items purchased by the microcredit organization and stored in storage, as well as other valuables, including materials intended for the repair of the microcredit organization's building and other fixed assets.

On the Debit of the Account: The value of purchased and received into storage low-value and fast-wearing items and other valuables is reflected.

On the Credit of the Account: The value of low-value and fast-wearing items and other valuables written off and/or put into use is reflected.

Analytical Accounting: It is carried out in separate personal accounts for each type of low-value and fast-wearing items, as well as other valuables.

19925

Prepaid Expenses

Definition of the Account: Prepaid expenses by the microcredit organization for the future reporting period during the current reporting period (annual subscriptions to periodicals, prepaid insurance payments, lease payments, etc.)

On the Debit of the Account: The amount of prepaid expenses for expenses in the future reporting period is reflected.

On the Credit of the Account: The actual covered amount of expenses transferred to current expenses of the relevant period and the return of prepaid expenses are reflected.

Analytical Account: It is carried out in separate personal accounts for each type of expense.

19931

Deferred Taxes

Definition of the Account: Taxes, fees, and allocations paid in advance to the budget of the Republic of Uzbekistan and extrabudgetary funds are taken into account. Accounting for deferred tax claims is also maintained in this account. Deferred tax claims are taxes on profit that are included in the taxable profit of the current period and will be repaid in the future period due to the existence of temporary differences, but are deducted from the profit when determining the taxable profit of the future period. This is the difference between the profit in the accounting balance and the taxable profit.

On the Debit of the Account: The amount of prepaid taxes and tax claims is reflected.

On the Credit of the Account: The amount written off from the corresponding expense accounts is reflected.

Analytical Accounting: It is carried out in separate personal accounts for each type of tax, fee, and allocation.

19941

Funds in Banks of Liquidated or Being Liquidated Banks

Definition of the Account: Accounting is maintained for deposits and other funds of the microcredit organization in banks that have been liquidated or are in the process of liquidation.

On the Debit of the Account: The amount of deposits and other funds in banks that have been liquidated or are in the process of liquidation is reflected.

On the Credit of the Account: The amount of funds in banks that have been liquidated or are in the process of liquidation, covered by incoming funds, reserves for possible losses, or other assets, is written off.

Analytical Accounting: It is carried out in separate personal accounts for each bank.

19945

Reserve for Possible Losses on Funds in Banks of Liquidated or Being Liquidated Banks (Counter-Asset)

Definition of the Account: Accounting is maintained for the reserve established by the microcredit organization to cover possible losses on deposits and other funds in banks that have been liquidated or are being liquidated, where there is a possibility of non-recovery.

On the Credit of the Account: The amount of the established reserve and/or the increase in the reserve amount are reflected.

On the Debit of the Account: The cancelled and/or decreased amount of the reserve is reflected.

Analytical Accounting: It is carried out in separate personal accounts for each bank.

19995

Other Assets in Court Proceedings

Definition of the Account: Accounting is maintained for the assets of the microcredit organization in court proceedings (material damages caused by the responsible person of the microcredit organization, illegally issued funds, etc.).

On the Debit of the Account: The amount of assets reclassified due to court proceedings and transferred from the relevant main accounts to this account is reflected.

On the Credit of the Account: The amount of assets collected and/or written off from account 19999 "Reserve for Possible Losses on Other Assets (Counter-Asset)" to cover losses is reflected.

Analytical Accounting: It is carried out in separate personal accounts for each asset.

19997

Other Assets

Definition of the Account: Accounting is maintained for other assets of the microcredit organization that do not correspond to the assets defined above.

On the Debit of the Account: The value of assets is reflected.

On the Credit of the Account: The amount of covered, sold, or disposed of assets is reflected.

Analytical Accounting: It is carried out in separate personal accounts for each type of asset.

19999

Reserve for Possible Losses on Other Assets (Counter-Asset)

Definition of the Account: The reserve for possible losses on assets not provided for in separate "Reserve for Losses" accounts is taken into account.

On the Credit of the Account: The amount of the established reserve and/or the increase in the reserve amount are reflected.

On the Debit of the Account: The cancelled and/or decreased amount of the reserve is reflected.

Analytical Accounting: It is carried out in separate personal accounts for each type of asset.

20000

LIABILITIES

21400

ATTRACTED BORROWED FUNDS

21402

Borrowed Funds of Founders

Definition of the Account: Accounting is maintained for borrowed funds obtained from the founders of the microcredit organization.

On the Credit of the Account: The amount of loans obtained from the founders of the microcredit organization is reflected.

On the Debit of the Account: The amount of paid/written-off loans is accounted for.

Analytical Accounting: It is carried out in separate personal accounts in the form of contract columns for each creditor.

21404

Attracted Borrowed Funds from Other Persons

Definition of the Account: Accounting is maintained for attracted borrowed funds from other persons.

On the Credit of the Account: The amount of attracted borrowed funds from other persons is reflected.

On the Debit of the Account: The amount of paid/written-off borrowed funds is accounted for.

Analytical Accounting: It is carried out in separate personal accounts in the form of contract columns for each creditor.

21600

SHORT-TERM LOANS OBTAINED

21606

Short-Term Loans Obtained from Banks

Definition of the Account: Accounting is maintained for loans obtained from banks for a term of up to 1 year from the date of receipt (as well as other operations that are loans in substance).

On the Credit of the Account: The amount of obtained loans is reflected.

On the Debit of the Account: The amount of paid loans is written off.

Analytical Accounting: It is carried out in separate personal accounts based on loan contracts for each creditor.

21610

Short-Term Loans Obtained from State Target Funds

Definition of the Account: Accounting is maintained for loans obtained from state target funds for a term of up to 1 year from the date of receipt (as well as other operations that are loans in substance).

On the Credit of the Account: The amount of obtained loans is reflected.

On the Debit of the Account: The amount of paid loans is written off.

Analytical Accounting: It is carried out in separate personal accounts based on loan contracts for each creditor.

21614

Short-Term Loans Obtained from Non-Bank Financial Institutions

Definition of the Account: Accounting is maintained for loans obtained from non-bank financial institutions, including pawnshops and leasing companies, for a term of up to 1 year from the date of receipt (as well as other operations that are loans in substance).

On the Credit of the Account: The amount of obtained loans is reflected.

On the Debit of the Account: The amount of paid loans is written off.

Analytical Accounting: It is carried out in separate personal accounts based on loan contracts for each creditor.

21618

Short-Term Loans Obtained from Non-Profit Organizations

Definition of the Account: Accounting is maintained for loans obtained from non-profit organizations for a term of up to 1 year from the date of receipt (as well as other operations that are loans in substance).

On the Credit of the Account: The amount of obtained loans is reflected.

On the Debit of the Account: The amount of paid loans is written off.

Analytical Accounting: It is carried out in separate personal accounts based on loan contracts for each creditor.

21622

Short-term loans obtained from international financial institutions

Definition of the account: Accounting is maintained for loans obtained from international financial institutions for a period of up to 1 year from the date of receipt (as well as other operations that are loans in substance).

The credit of the account reflects the amount of received loans.

The debit of the account the amount of repaid loans is written off.

Analytical accounting is maintained in separate personal accounts for each creditor based on loan contracts.

21626

Short-term loans obtained from foreign investors

Definition of the account: Accounting is maintained for loans obtained from foreign investors for a period of up to 1 year from the date of receipt (as well as other operations that are loans in substance).

The credit of the account reflects the amount of received loans.

The debit of the account the amount of repaid loans is written off.

Analytical accounting is maintained in separate personal accounts for each creditor based on loan contracts.

21696

Short-term loans obtained from other creditors

Definition of the account: Accounting is maintained for loans obtained from creditors that do not fit the definitions of the categories indicated above for a period of up to 1 year from the date of receipt (as well as other operations that are loans in substance).

The credit of the account reflects the amount of received loans.

The debit of the account the amount of repaid loans is written off.

Analytical accounting is maintained in separate personal accounts for each creditor based on loan contracts.

22000

LONG-TERM LOANS OBTAINED

22006

Long-term loans obtained from banks

Definition of the account: Accounting is maintained for loans obtained from banks for a period of more than 1 year from the date of receipt (as well as other operations that are loans in substance).

The credit of the account reflects the amount of received loans.

The debit of the account the amount of repaid loans is written off.

Analytical accounting is maintained in separate personal accounts for each creditor based on loan contracts.

22010

Long-term loans obtained from state target funds

Definition of the account: Accounting is maintained for loans obtained from state target funds for a period of more than 1 year from the date of receipt (as well as other operations that are loans in substance).

The credit of the account reflects the amount of received loans.

The debit of the account the amount of repaid loans is written off.

Analytical accounting is maintained in separate personal accounts for each creditor based on loan contracts.

22014

Long-term loans obtained from non-bank financial institutions

Definition of the account: Accounting is maintained for loans obtained from non-bank financial institutions, including pawnshops and leasing companies, for a period of more than 1 year from the date of receipt (as well as other operations that are loans in substance).

The credit of the account reflects the amount of received loans.

The debit of the account the amount of repaid loans is written off.

Analytical accounting is maintained in separate personal accounts for each creditor based on loan contracts.

22018

Long-term loans obtained from non-profit organizations

Definition of the account: Accounting is maintained for loans obtained from non-profit organizations for a period of more than 1 year from the date of receipt (as well as other operations that are loans in substance).

The credit of the account reflects the amount of received loans.

The debit of the account the amount of repaid loans is written off.

Analytical accounting is maintained in separate personal accounts for each creditor based on loan contracts.

22022

Long-term loans obtained from international financial institutions

Definition of the account: Accounting is maintained for loans obtained from international financial institutions for a period of more than 1 year from the date of receipt (as well as other operations that are loans in substance).

The credit of the account reflects the amount of received loans.

The debit of the account the amount of repaid loans is written off.

Analytical accounting is maintained in separate personal accounts for each creditor based on loan contracts.

22026

Long-term loans obtained from foreign investors

Definition of the account: Accounting is maintained for loans obtained from foreign investors for a period of more than 1 year from the date of receipt (as well as other operations that are loans in substance).

The credit of the account reflects the amount of received loans.

The debit of the account the amount of repaid loans is written off.

Analytical accounting is maintained in separate personal accounts for each creditor based on loan contracts.

22096

Long-term loans obtained from other creditors

Definition of the account: Accounting is maintained for loans obtained from creditors that do not fit the definitions indicated above for a period of more than 1 year from the date of receipt (as well as other operations that are loans in substance).

The credit of the account reflects the amount of received loans.

The debit of the account the amount of repaid loans is written off.

Analytical accounting is maintained in separate personal accounts for each creditor based on loan contracts.

22100

LIABILITIES UNDER LEASING (FINANCIAL LEASE)

22102

Liabilities under leasing to banks

22104

Liabilities under leasing to other lessors

Since the above accounts are identical in their nature, their definition is given in a generalized form.

Definition of the accounts: Accounting is maintained for liabilities under leasing.

The credit of the accounts reflects the amount equal to the lesser of the actual value of the property leased or the minimum lease payments.

The debit of the accounts the reduced amount of liabilities according to the lease payment schedule is recorded.

Analytical accounting is maintained in separate personal accounts for each lessor based on lease contracts.

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 regarding financial funds between the Head Office of a microcredit organization located in the territory of the Republic of Uzbekistan and its branches, or between branches of a single microcredit organization. This account is considered a reciprocal account for account 16102 — "Funds receivable from head office and (or) branches — Financial funds". It is required that the turnover and balance amounts of these accounts be equal to each other and that there be no balance in these accounts in the consolidated balance sheet.

The credit of the account reflects funds that must be paid to the Head Office and (or) branches.

The debit of the account reflects the amount of financial funds received from the Head Office and (or) branches.

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 regarding other assets (fixed assets, intangible assets, commodity-material values) between the Head Office and branches and (or) between branches of a single microcredit organization. Account 16104 — "Funds receivable from head office and (or) branches — Other assets" is the reciprocal account for this account. It is required that the turnover and balance amounts of these accounts be equal to each other and that there be no balance in these accounts in the consolidated balance sheet.

The credit of the account reflects the amount of other assets accepted by the Head Office and (or) branches.

The debit of the account reflects funds payable to the Head Office and (or) branches at specified deadlines.

Analytical accounting is maintained in separate personal accounts for the Head Office and branches.

22400

ACCRUED INTEREST PAYABLE

22402

Accrued interest on founders' debt funds

22404

Accrued interest on borrowed funds attracted from other persons

Since the above balance sheet accounts are identical in their nature, their definition is given in a generalized form.

Definition of the account: Accounting is maintained for interest accrued but not yet paid on borrowed funds attracted from the microcredit organization's founders and other persons.

The credit of the account reflects the amount of accrued interest payable.

The debit of the account the amount of paid interest, as well as the returned amount of incorrectly calculated interest, is written off.

Analytical accounting is maintained in separate personal accounts for each creditor based on the cut-off of debt contracts.

22408

Accrued interest on leasing (financial lease)

Definition of the account: Accounting is maintained for accrued interest payable under leasing.

The credit of the account reflects the amount of accrued interest payable according to the lease payment schedule.

The debit of the account the amount of paid interest, as well as the returned amount of incorrectly calculated interest, is written off.

Analytical accounting is maintained in separate personal accounts for each creditor based on contracts.

22410

Accrued interest on obtained loans

Definition of the account: Accounting is maintained for interest accrued but not yet paid on the credit obligations of microcredit organizations (as well as other operations that are loans in substance).

The credit of the account reflects the amount of accrued interest payable.

The debit of the account the amount of paid interest, as well as the returned amount of incorrectly calculated interest, is written off.

Analytical accounting is maintained in separate personal accounts for each creditor based on loan contracts.

22414

Accrued interest payable on issued corporate bonds

Definition of the account: Accounting is maintained for interest accrued but not yet paid on corporate bonds issued by the microcredit organization.

The credit of the account reflects the amount of interest accrued for payment, as well as the amount of interest added to the selling price.

The debit of the account the amount of paid interest, as well as the returned amount of incorrectly calculated interest, is written off.

Analytical accounting is maintained in separate personal accounts based on the maturity and issuance of corporate bonds.

22496

Accrued interest on other liabilities

Definition of the account: Accounting is maintained for interest accrued but not yet paid on liabilities that do not fit the definitions of the categories indicated above.

The credit of the account reflects the amount of accrued interest payable.

The debit of the account the amount of paid interest, as well as the returned amount of incorrectly calculated interest, is written off.

Analytical accounting is maintained in separate personal accounts by the type of liability.

22500

ACCRUED TAXES

22502

Accrued profit taxes

Definition of the account: Accounting is maintained for profit taxes (profit tax and other similar taxes) and the single tax payment (for single tax payers) that have been accrued for the current period but not yet paid.

The credit of the account reflects the amount of accrued current profit taxes and the single tax payment (for single tax payers).

The debit of the account the amount of paid profit taxes and the single tax payment (for single tax payers), as well as the amount of incorrectly calculated profit taxes and the single tax payment (for single tax payers), is written off.

Analytical accounting is maintained in separate personal accounts by the type of tax.

22504

Accrued other taxes

Definition of the account: Accounting is maintained for taxes (other than profit tax) that have been accrued but not yet paid.

The credit of the account reflects the amount of accrued taxes.

The debit of the account the amount of paid taxes written off, as well as the returned amount of incorrectly calculated taxes, is written off.

Analytical accounting is maintained in separate personal accounts by the type of tax.

22506

Taxes withheld for payment

Definition of the account: Accounting is maintained for taxes withheld from employees of the microcredit organization in accordance with legislation and transferred to budget revenue.

The credit of the account reflects the amount of taxes withheld.

The debit of the account the amount of taxes transferred to the budget is written off.

Analytical accounting is maintained in separate personal accounts for each type of tax.

22508

Deferred taxes

Definition of the account: Deferred profit taxes are accounted for. Deferred profit tax is the profit tax payable in the future period, calculated by adding temporary differences that are deducted from the profit taxable in the current period but included in the profit taxable in the future period. This is the difference between accounting profit and taxable profit.

The credit of the account reflects the amount of accrued deferred profit taxes.

The debit of the account the reduced amount of deferred profit taxes is written off.

Analytical accounting is maintained in a separate personal account.

22510

Accrued single social payment

Definition of the account: Accounting is maintained for funds for the single social payment by the microcredit organization in accordance with legislation.

The credit of the account reflects the amount of funds transferred by the microcredit organization to the single social payment.

The debit of the account the amount of funds transferred to the single social payment is written off.

Analytical accounting is maintained in separate personal accounts.

22512

Settlements with funds

Definition of the account: Accounting is maintained for payments transferred to funds by the microcredit organization in accordance with legislative acts.

The credit of the account reflects the amount of payments transferred to funds.

The debit of the account the amount of payments transferred to funds is written off.

Analytical accounting is maintained in separate personal accounts for each fund and type of payment.

22800

DEFERRED INCOME

22812

Interest income for future periods

Definition of the account: Accounting is maintained for interest received in advance and transferred to the microcredit organization's income periodically depending on whether they have been actually earned.

The credit of the account reflects the amount of interest received in advance.

The debit of the account the amount of interest earned and transferred to the microcredit organization's income is written off.

Analytical accounting is maintained in separate personal accounts by the type of income.

22814

Grant funds

Definition of the account: Accounting is maintained for grants received by the microcredit organization.

The credit of the account reflects the amount of received grants.

The debit of the account amounts transferred to the microcredit organization's income due to the fulfillment of conditions related to grants, or amounts returned if grant conditions are not met, are written off.

Analytical accounting is maintained in separate personal accounts.

22896

Other deferred income

Definition of the account: Accounting is maintained for other deferred income received in advance and transferred to income periodically depending on whether they have been actually earned, which cannot be reflected as income until the actual service is provided, but are reflected as liabilities (excluding interest income), as well as advance payments received under lease and other interest-free operations.

The credit of the account reflects the amount of advance payments received.

The debit of the account the amount of income earned and transferred to the microcredit organization's income is written off.

Analytical accounting is maintained in separate personal accounts by the type of income.

23600

ISSUED CORPORATE BONDS

23602

Issued corporate bonds

Definition of the account: Accounting is maintained for corporate bonds issued by a microcredit organization in the form of a joint-stock company.

The credit of the account reflects the nominal value of issued corporate bonds.

The debit of the account the write-off of the nominal value of issued corporate bonds upon redemption or purchase from holders before the payment date is reflected.

Analytical accounting is maintained in separate personal accounts based on the maturity and issuance of corporate bonds.

23696

Premium on issued corporate bonds

Definition of the account: Accounting is maintained for the positive difference between the nominal value and the selling price (with the amount of interest received at the time of sale deducted) of corporate bonds issued by a microcredit organization in the form of a joint-stock company — the premium amount.

The credit of the account reflects the premium amount from selling corporate bonds above their nominal value.

The debit of the account the premium amounts written off upon redemption of the microcredit organization's corporate bonds and/or upon their purchase for subsequent resale, as well as during amortization, are written off.

Analytical accounting is maintained in separate personal accounts based on the maturity and issuance of corporate bonds.

23698

Discount (contra-passive) on issued corporate bonds

Definition of the account: Accounting is maintained for the negative difference between the nominal value and the selling price of corporate bonds issued by a microcredit organization in the form of a joint-stock company — the discount (excluding the amount of interest received at the time of sale, if any).

The debit of the account reflects the discount amount from selling corporate bonds below their nominal value.

The credit of the account the discount amount upon redemption of the microcredit organization's corporate bonds or upon their purchase for subsequent resale, as well as the discount amortization amount, are written off.

Analytical accounting is maintained in separate personal accounts based on the maturity and issuance of corporate bonds.

29800

OTHER LIABILITIES

29801

Settlements with customers

Purpose of the account: Accounting is maintained for various payments for operations carried out with customers.

The credit of the account reflects the amount of funds payable.

The debit of the account the write-off of funds for a specified purpose is reflected.

Analytical accounting is maintained in separate personal accounts for each customer.

29802

Funds payable for commodity-material values and rendered services

Definition of the account: Accounting is maintained for funds payable for received commodity-material values and rendered services (electricity, water, gas, etc.).

The credit of the account reflects the amount of funds payable for received commodity-material values and rendered services.

The debit of the account the amount of funds paid for commodity-material values and rendered services is written off.

Analytical accounting is maintained in separate personal accounts for each creditor and/or type of payment.

29803

Funds payable in settlements with microcredit organization employees

Definition of the account: Accounting is maintained for funds calculated for payment of wages, pensions, alimony, child benefits, material assistance, paid-up wages, other bonuses or dues.

The credit of the account reflects the amount of calculated funds payable.

The debit of the account the amount of funds issued is written off.

Analytical accounting is maintained in separate personal accounts by the type of accounts.

29805

Funds payable under lease (operating lease)

Definition of the account: Accounting is maintained for liabilities calculated under operating lease.

The credit of the account reflects the amount (expense) calculated for payment under operating lease.

The debit of the account the paid or written-off amounts of the sum calculated for payment under operating lease are written off.

Analytical accounting is maintained in separate personal accounts for each lessor.

29807

Dividends payable

Definition of the account: Accounting is maintained for dividends declared by the microcredit organization but not yet paid.

The credit of the account reflects the amount of calculated dividends payable.

The debit of the account the amount of dividends paid by the microcredit organization is written off.

Analytical accounting is maintained in separate personal accounts.

29830

Funds deposited by founders (shareholders) for the purpose of increasing the authorized capital (subscription funds for shares)

Definition of the account: Accounting is maintained for funds contributed by founders (shareholders) for the purpose of increasing the authorized capital (subscription funds for shares by shareholders).

The credit of the account reflects the amount of funds contributed for the purpose of increasing the authorized capital (subscription funds for shares).

The debit of the account the amount of funds directed to increase the authorized capital is written off.

Analytical accounting is maintained in separate personal accounts for each founder (shareholder).

29896

Other liabilities

Definition of the account: Accounting is maintained for operations that do not fit the definitions of the categories indicated above.

The credit of the account the inflow of funds is reflected.

The debit of the account the write-off of funds is reflected.

Analytical accounting is maintained in separate personal accounts by the type of operation.

30000

CAPITAL

30300

AUTHORIZED CAPITAL OF THE MICROCREDIT ORGANIZATION

30301

Authorized capital

Definition of the account: The sum of total shares (in monetary terms) specified in the founding documents of the authorized capital is accounted for.

The credit of the account reflects the amount of shares received from founders.

The debit of the account the amount of shares returned to founders leaving the microcredit organization is written off.

Analytical accounting is maintained in separate personal accounts for each founder.

30315

Issued authorized capital — Preferred shares

Definition of the account: The nominal value of fully paid preferred shares is accounted for.

The credit of the account reflects the amount of preferred shares issued for the formation of authorized capital.

The debit of the account the reduction amount of authorized capital is written off.

Analytical accounting is maintained in separate personal accounts opened for each shareholder.

30318

Issued authorized capital — Ordinary shares

Definition of the account: The nominal value of fully paid ordinary shares is accounted for.

The credit of the account reflects the nominal value of ordinary shares issued for the formation of authorized capital.

The debit of the account the reduction amount of authorized capital is written off.

Analytical accounting is maintained in separate personal accounts opened for each shareholder.

30321

Own shares repurchased from shareholders — Preferred (contra-passive)

Definition of the account: The nominal value of preferred shares purchased from its shareholders by the microcredit organization for the purpose of resale or cancellation is accounted for.

On the debit of the account The amount of preferred shares of the microcredit organization repurchased from shareholders is reflected.

On the credit of the account The amount of preferred shares resold or cancelled by the microcredit organization is reflected.

Analytical accounting Is maintained in personal accounts for each shareholder.

30324 Repurchased Own Shares — Ordinary (Counter-Passive)

Definition of the account: The nominal value of ordinary shares purchased from its shareholders by the microcredit organization for the purpose of resale or cancellation is accounted for.

On the debit of the account The amount of ordinary shares of the microcredit organization repurchased from shareholders is reflected.

On the credit of the account The amount of ordinary shares resold or cancelled by the microcredit organization is reflected.

Analytical accounting Is maintained in personal accounts for each shareholder.

30600 ADDITIONAL CAPITAL

30603 Additional Capital — Preferred Shares

Definition of the account: Accounting for emission income obtained as a result of selling preferred shares at a price higher than their nominal value during their primary placement, as well as accounting for the positive difference between the purchase price of its own preferred shares and their subsequent resale price.

On the credit of the account The sum of the positive difference between the sales price of preferred shares and their nominal value during primary placement, and the sum of the positive difference between the purchase price of its own preferred shares and their subsequent resale price are reflected.

On the debit of the account The amount of funds directed to increase the charter capital of the microcredit organization and for other purposes established by legislation, as well as the sum of the negative difference between the purchase price of its own preferred shares and their subsequent resale price (within the scope of the credit balance of this account) are reflected.

Analytical accounting Is maintained in separate personal accounts for each emission.

30606 Additional Capital — Ordinary Shares

Definition of the account: Accounting for emission income obtained as a result of selling shares at a price higher than their nominal value during their primary placement, as well as accounting for the positive difference between the purchase price of its own ordinary shares and their subsequent resale price.

On the credit of the account The sum of the positive difference between the sales price of ordinary shares and their nominal value during primary placement, and the sum of the positive difference between the purchase price of its own ordinary shares and their subsequent resale price are reflected.

On the debit of the account The amount of funds directed to increase the charter capital of the microcredit organization and for other purposes established by legislation, as well as the sum of the negative difference between the purchase price of its own ordinary shares and their subsequent resale price (within the scope of the credit balance of this account) are reflected.

Analytical accounting Is maintained in separate personal accounts for each emission.

30900 RESERVE CAPITAL

30903 General Reserve Fund Definition of the account: Accounting for funds allocated from the undistributed profit of the microcredit organization for general purposes in accordance with the established procedure. On the credit of the account The amount of funds transferred from profit to the general reserve fund at the end of the year is reflected. On the debit of the account The amount of funds withdrawn from the general reserve fund for specific purposes is reflected. Analytical accounting Is maintained in separate personal accounts for each purpose.

30905 Acquired Property Definition of the account: Accounting for the value of property acquired free of charge from the founders of the microcredit organization. On the credit of the account The value of acquired property is reflected. On the debit of the account Amounts directed to cover losses incurred as a result of acquiring property from other persons (previously acquired free of charge), as well as amounts transferred to undistributed profit in accordance with the established procedure are reflected. Analytical accounting Is maintained in one personal account.

30908 Increased Valuation Value Relative to Initial Value Purpose of the account: Accounting for the amount of increase in the value of the microcredit organization's fixed assets and intangible assets relative to their initial value as a result of a significant increase in their market value. On the credit of the account The amount of increase in the value of the microcredit organization's fixed assets and intangible assets relative to their balance value is reflected. On the debit of the account The amount of increase in the value of fixed assets and intangible assets being evaluated, as well as the decrease in the value of the microcredit organization's fixed assets and intangible assets relative to their balance value and amounts transferred to undistributed profit in accordance with the established procedure, are written off. Analytical accounting Is maintained in separate personal accounts for each evaluated fixed asset and intangible asset.

31200 UNDISTRIBUTED PROFIT

31203 Undistributed Profit (Asset-Liability) Definition of the account: Accounting for the undistributed profit (loss) of the microcredit organization obtained during the activities of previous financial years.

On the credit of the account Net profit transferred from account 31206 — "Net Profit (Loss) (Asset-Liability)" and amounts transferred from reserve capital to undistributed profit are reflected.

On the debit of the account Allocations for various funds from undistributed profit, the amount of loss transferred from account 31206 — "Net Profit (Loss) (Asset-Liability)", as well as the amount of reinvestment into the charter capital of the microcredit organization in accordance with the founders' decision and the amount of declared dividends are reflected.

Analytical accounting Is maintained in one personal account.

31206 Net Profit (Loss) (Asset-Liability) Definition of the account: Accounting for net profits (losses) obtained as a result of the financial activities of the microcredit organization during the reporting year, as well as the amount of dividends declared during this period.

On the credit of the account Profit obtained by the microcredit organization during the reporting year, the amount of loss transferred to account 31203 — "Undistributed Profit (Asset-Liability)", as well as the return of incorrectly declared dividends are reflected.

On the debit of the account Loss incurred by the microcredit organization during the reporting year, the amount of profit transferred to account 31203 — "Undistributed Profit (Asset-Liability)", declared dividends, as well as the amount transferred to reserve capital are reflected.

Analytical accounting Is maintained in separate personal accounts for net profit accounting.

31700 GRANT FUNDS UTILIZED

31701 Utilized Grant Funds Definition of the account: Accounting for the utilized amount of grant funds by the microcredit organization.

On the credit of the account The utilized amount of grant funds transferred from account 31206 — "Net Profit (Loss) (Asset-Liability)" until dividends are declared is reflected.

On the debit of the account The amount returned as a result of incorrect accounting of the utilized part of grant funds is reflected.

Analytical accounting Is maintained in separate personal accounts.

40000 INCOME

40400 INTEREST INCOME ON DEPOSITS IN BANKS

40401 Interest income on demand deposits in banks

40403 Interest income on savings deposits in banks

40405 Interest income on term deposits in banks

40407 Interest income on other funds in banks

Since the balance sheet accounts listed above are identical in their characteristics, their definitions are provided in a generalized manner. Definition of the accounts: Accounting for interest income on demand, savings, term, and other deposits of the microcredit organization in other banks.

On the credit of the accounts The sum of received and accrued interest income to be received from banks on deposits is reflected.

On the debit of the accounts The sum of incorrectly calculated or received interest, as well as the sum of income transferred to account 31206 — "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year is reflected.

42000 INTEREST INCOME ON SHORT-TERM MICROLOANS ISSUED TO INDIVIDUALS

42001 Interest income on short-term microloans issued to individuals

42005 Interest income on overdue microloans issued to individuals

42009 Interest income on short-term microloans with revised terms issued to individuals

42100 INTEREST INCOME ON SHORT-TERM MICROCREDITS ISSUED TO INDIVIDUAL ENTREPRENEURS

42101 Interest income on short-term microcredits issued to individual entrepreneurs

42105 Interest income on overdue microcredits issued to individual entrepreneurs

42109 Interest income on short-term microcredits with revised terms issued to individual entrepreneurs

42300 INTEREST INCOME ON SHORT-TERM MICROCREDITS ISSUED TO LEGAL ENTITIES

42301 Interest income on short-term microcredits issued to legal entities

42305 Interest income on overdue microcredits issued to legal entities

42309 Interest income on short-term microcredits with revised terms issued to legal entities

44200 INTEREST INCOME ON LONG-TERM MICROLOANS ISSUED TO INDIVIDUALS

44201 Interest income on long-term microloans issued to individuals

44209 Interest income on long-term microloans with revised terms issued to individuals

44300 INTEREST INCOME ON LONG-TERM MICROCREDITS ISSUED TO INDIVIDUAL ENTREPRENEURS

44301 Interest income on long-term microcredits issued to individual entrepreneurs

44309 Interest income on long-term microcredits with revised terms issued to individual entrepreneurs

44500 INTEREST INCOME ON LONG-TERM MICROCREDITS ISSUED TO LEGAL ENTITIES

44501 Interest income on long-term microcredits issued to legal entities

44509 Interest income on long-term microcredits with revised terms issued to legal entities

Since the balance sheet accounts listed above are identical in their characteristics, their definitions are provided in a generalized manner. Definition of the accounts: Accounting for interest income on term, overdue, and revised microloans and microcredits issued to legal entities, individuals, and individual entrepreneurs.

On the credit of the accounts The sum of received and accrued interest income to be received on microloans and microcredits is reflected.

On the debit of the accounts The sum of incorrectly calculated or received interest, as well as the sum of income transferred to account 31206 — "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year is reflected.

44700 INTEREST INCOME ON MICROLOANS AND MICROCREDITS IN COURT PROCEEDINGS

44701 Interest income on microloans in court proceedings Definition of the account: Accounting for interest income on microloans in court proceedings.

On the credit of the account The sum of interest income earned on microloans is reflected.

On the debit of the account The sum of incorrectly calculated or received interest, as well as the sum of income transferred to account 31206 — "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year is reflected.

44703 Interest income on microcredits in court proceedings Definition of the account: Accounting for interest income on microcredits in court proceedings.

On the credit of the account The sum of interest income earned on microcredits is reflected.

On the debit of the account The sum of incorrectly calculated or received interest, as well as the sum of income transferred to account 31206 — "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year is reflected.

44900 OTHER INTEREST INCOME

44901 Other interest income Definition of the account: Accounting for calculated interest income of microcredit organizations that do not fall into the groups of accounts defined above.

On the credit of the account The sum of received and receivable other interest income is reflected.

On the debit of the account The sum of the return of incorrectly calculated or received income, as well as the sum of income transferred to account 31206 — "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year is reflected.

45100 INTEREST INCOME ON MICROLEASING (FINANCIAL LEASING)

45105 Interest income on microleasing

45117 Interest income on overdue microleasing

45119 Interest income on microleasing with revised terms

45121 Interest income on microleasing in court proceedings

Since the balance sheet accounts listed above are identical in their characteristics, their definitions are provided in a generalized manner. Definition of the accounts: Accounting for interest income earned on term, overdue, and revised microleasing, as well as microleasing in court proceedings by microcredit organizations.

On the credit of the accounts The sum of interest income earned is reflected.

On the debit of the accounts The sum of the return of incorrectly calculated and/or received interest, as well as the sum of income transferred to account 31206 — "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year is reflected.

45200 NON-INTEREST INCOME

45201 Income received for services and intermediation Definition of the account: Accounting for income received from services provided by microcredit organizations, processing of microloans, microcredits, and microleasing, provision of information and consulting, and other services.

On the credit of the account The sum of income earned for services provided is reflected.

On the debit of the account The sum of the return of incorrectly received income, as well as the sum of income transferred to account 31206 — "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year is reflected.

45217 Income on Purchased Receivables — Factoring Definition of the account: Accounting for income on receivables purchased by microcredit organizations.

On the credit of the account The sum of income earned in the process of repayment of purchased receivables by the debtor is reflected.

On the debit of the account The sum of the return of incorrectly received income, as well as the sum of income transferred to account 31206 — "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year is reflected.

45400 PROFIT FROM FOREIGN EXCHANGE RATE CHANGES

45401 Profit from foreign exchange rate changes Definition of the account: Accounting for profits arising from the revaluation of assets and liabilities expressed in foreign currency at the Central Bank rate, in case of an increase in the foreign exchange rate relative to the sum.

On the credit of the account The sum of profits arising as a result of an increase in the foreign exchange rate is reflected.

On the debit of the account The sum of the return of incorrectly received profits, as well as the sum transferred to account 31206 — "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year is reflected.

45900 OTHER NON-INTEREST INCOME

45901 Income received from leasing of fixed assets Definition of the account: Accounting for income received from leasing objects of fixed assets, real estate, and other private property by microcredit organizations.

On the credit of the account The sum of income received from leasing objects of fixed assets, real estate, and other private property is reflected.

On the debit of the account The sum of the return of incorrectly received or calculated profits, as well as the sum of profits transferred to account 31206 — "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year is reflected.

45909 Profit from sale or disposal of fixed assets

45913 Profit from sale or disposal of real estate and other private property/assets

Since the balance sheet accounts listed above are identical in their characteristics, their definitions are provided in a generalized manner. Definition of the accounts: Accounting for profit from the sale or disposal of fixed assets, real estate, and other private property/assets of microcredit organizations.

On the credit of the accounts The sum of profit from the sale or disposal of fixed assets, real estate, and other private property/assets is reflected.

On the debit of the accounts The sum of the return of incorrectly received profits, as well as the sum of profits transferred to account 31206 — "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year is reflected.

45917 Income from Grant Funds Definition of the account: Accounting for grant funds utilized by the microcredit organization in accordance with the conditions related to the received grants.

On the credit of the account The sum of grants for which the conditions related to received grants have been fulfilled is reflected.

On the debit of the account The sum of the return of incorrectly transferred grants, as well as the sum transferred to account 31206 — "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year is reflected.

45921 Return of Written-Off Funds Definition of the account: Accounting for the return amount of previously written-off assets and established reserves of microcredit organizations.

On the credit of the account The sum of income received on previously written-off assets is reflected.

On the debit of the account The sum of the return of incorrectly received profits, as well as the sum of profits transferred to account 31206 — "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year is reflected.

45994 Other Non-Interest Income Definition of the account: Accounting for non-interest income (fines, penalties, etc.) of microcredit organizations that do not fall into the groups of accounts defined above.

On the credit of the account The sum of received non-interest income that does not fall into the groups of accounts defined above is reflected.

On the debit of the account The sum of the return of incorrectly received profits, as well as the sum of profits transferred to account 31206 — "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year is reflected.

50000 EXPENSES

50600 INTEREST EXPENSES ON ATTRACTED FUNDS

50601 Interest expenses on loan funds of founders (shareholders)

50603 Interest expenses on loan funds attracted from other persons

Since the balance sheet accounts listed above are identical in their characteristics, their definitions are provided in a generalized manner.

Definition of the account: Accounting for interest expenses of the microcredit organization on attracted loan funds.

On the debit of the accounts The sum of accrued interest expenses to be paid on attracted loan funds is reflected.

On the credit of the accounts The sum of the return of incorrectly calculated or paid interest, as well as the sum transferred to account 31206 — "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the reporting year is reflected.

53100 INTEREST EXPENSES ON SHORT-TERM CREDITS

53101 Interest expenses to be paid on short-term credits obtained from banks

53105 Interest expenses to be paid on short-term credits obtained from state target funds

53109 Interest expenses on short-term credits obtained from non-bank financial institutions

53113 Interest expenses on short-term credits obtained from non-profit non-governmental organizations

53117 Interest expenses on short-term credits obtained from international financial institutions

53121 Interest expenses on short-term credits obtained from foreign investors

53195 Interest expenses on short-term credits obtained from other creditors

54100 INTEREST EXPENSES ON LONG-TERM CREDITS

54101 Interest expenses on long-term credits obtained from banks

54105 Interest expenses on long-term credits obtained from state target funds

54109 Interest expenses on long-term credits obtained from non-bank financial institutions

54113 Interest expenses on long-term credits obtained from non-profit non-governmental organizations

54117 Interest expenses on long-term credits obtained from international financial institutions

54121 Interest expenses on long-term credits obtained from foreign investors

54195 Interest expenses on long-term credits obtained from other creditors

Since the balance sheet accounts listed above are identical in their characteristics, their definitions are provided in a generalized manner. Definition of the accounts: Accounting for interest expenses of the microcredit organization on credits (other operations that are credits in substance) obtained from banks, state target funds, non-bank financial institutions, non-profit non-governmental organizations, international financial institutions, foreign investors, and other creditors.

On the debit of the accounts The sum of paid interest, as well as the sum of accrued interest expenses to be paid on credits is reflected.

On the credit of the accounts The sum of the return of incorrectly calculated or paid interest, as well as the sum transferred to account 31206 — "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the reporting year is reflected.

54200 INTEREST EXPENSES ON ISSUED CORPORATE BONDS

54202 Interest expenses on issued corporate bonds

Definition of the account: Interest expenses on corporate bonds issued by a microcredit organization in the form of a joint-stock company are recorded.

On the debit side of the account The amount of paid interest, amounts of discount amortization, as well as the amount of accrued interest expenses payable on corporate bonds issued by a microcredit organization in the form of a joint-stock company are reflected.

On the credit side of the account The amount of incorrectly calculated interest on corporate bonds, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

54400

INTEREST EXPENSES ON LEASING (FINANCIAL LEASE)

54401

Interest expenses on leasing (financial lease) Definition of the account: Interest expenses on leasing (financial lease) are recorded. On the debit side of the account The amount of accrued interest expenses payable according to the leasing (financial lease) schedule is reflected. On the credit side of the account The amount of refund of incorrectly calculated interest, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

54900

OTHER INTEREST EXPENSES

54902

Other interest expenses Definition of the account: Interest expenses that do not correspond to the groups of accounts defined above are recorded. On the debit side of the account The amount of paid interest, as well as the amount of accrued interest expenses payable on other liabilities are reflected. On the credit side of the account The amount of refund of incorrectly calculated and/or paid interest, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

55100

NON-INTEREST EXPENSES

55106

Expenses for services rendered and brokerage expenses Definition of the account: Expenses incurred for services rendered to microcredit organizations and brokerage expenses are recorded. On the debit side of the account The amount of incurred expenses is reflected. On the credit side of the account The amount of refund of incorrectly paid expenses, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

55300

LOSSES ARISING FROM CHANGES IN FOREIGN EXCHANGE RATES

55301

Losses arising from changes in foreign exchange rates Definition of the account: Losses arising from the devaluation of the foreign exchange rate against the sum are taken into account when revaluing assets and liabilities expressed in foreign currency at the Central Bank rate. On the debit side of the account The amount of losses arising from the decrease in the foreign exchange rate is reflected. On the credit side of the account The amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year is reflected.

55900

OTHER NON-INTEREST EXPENSES

55902

Losses from the sale or disposal of fixed assets

55906

Losses from the sale or disposal of real estate and other private property/assets

Since the above-mentioned balance sheet accounts are identical in nature, their definitions are provided in a generalized manner. Definition of the accounts: Losses arising from the sale or disposal of fixed assets, real estate, and other private property are recorded in these accounts. On the debit side of the accounts The amount of losses arising from the sale or disposal of fixed assets, real estate, and other private property is reflected. On the credit side of the accounts The amount of refund of incorrectly incurred losses, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

55995

Other non-interest expenses Definition of the account: Non-interest expenses that do not correspond to the groups of accounts defined above are recorded. On the debit side of the account The accounting of non-interest expenses incurred that do not correspond to the groups of accounts defined above is reflected. On the credit side of the account The amount of refund of incorrectly paid expenses, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the reporting year are reflected.

56100

SALARIES AND OTHER EXPENSES FOR MICROCREDIT ORGANIZATION EMPLOYEES

56102

Salaries Definition of the account: Labor remuneration of employees (performed under labor contracts and civil-law nature contracts), work performed outside working hours, work on rest and holiday days, bonus payments (for monthly work, results of performed special work, and others), expenses for long service and other payments of the microcredit organization in accordance with the microcredit organization's regulations and legislation are recorded. On the debit side of the account The amount of expenses incurred for salaries is reflected. On the credit side of the account The amount of refund of incorrectly paid expenses, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56106

Benefits for microcredit organization employees Definition of the account: Expenses incurred for benefits granted to employees of the microcredit organization, i.e., bonus payments (year-end bonuses, additional pay for long service, seniority, bonuses for holidays and anniversaries, etc.), payments for employees' studies, as well as their scholarships, the value of valuable gifts given to employees, and amounts paid by the microcredit organization for payments collected from individuals in accordance with the microcredit organization's regulations and legislation are recorded. On the debit side of the account The amount of expenses incurred for employee benefits is reflected. On the credit side of the account The amount of refund of incorrectly paid expenses, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56110

Medical, dental services, and hospital treatment expenses Definition of the account: Expenses incurred by the microcredit organization for providing outpatient or inpatient medical and dental services to its employees, as well as the value of full or partial payments for referrals to health camps, sanatorium-resort institutions, etc., for them and their children in the established order are recorded. On the debit side of the account The amount of expenses for providing medical and dental services and hospital treatment is reflected. On the credit side of the account The amount of refund of incorrectly paid expenses, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56114

Social insurance contributions Definition of the account: Expenses of the microcredit organization for voluntary contributions to non-state pension funds and unified social payments in accordance with legislation are recorded. On the debit side of the account The amount of expenses incurred for social insurance is reflected. On the credit side of the account The amount of refund of incorrectly or overpaid expenses, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56118

Social protection expenses Definition of the account: Expenses for severance pay and compensation payments granted at the time of early termination of the labor contract in cases indicated by legislation, as well as pension payments (child benefits granted until reaching the age of majority established by legislation, etc.), material aid payments, and other payments in accordance with legislation and the microcredit organization's charter are recorded. On the debit side of the account The amount of expenses incurred for social protection is reflected. On the credit side of the account The amount of refund of incorrectly paid expenses, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56122

Contributions to funds Definition of the account: Allocations to funds in accordance with legislative acts, as well as mandatory and voluntary insurance of employees' health and other contributions are recorded. . On the debit side of the account The amount of allocations to funds is reflected. On the credit side of the account The amount of refund of incorrectly paid expenses, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56195

Other expenses for microcredit organization employees Definition of the account: Payments made to employees that do not correspond to the accounts defined above (payments for lessons in circles, clubs, subscriptions to newspapers and magazines, excess travel and representation expenses paid beyond the norms established by legislation, etc.) are recorded. On the debit side of the account The amount of payments incurred that do not correspond to the groups defined above is reflected. On the credit side of the account The amount of refund of incorrectly paid expenses, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56200

RENTAL AND MAINTENANCE EXPENSES

56202

Rent payment

56206

Water payment

56210

Electricity and heating network expenses

56214

Repair and maintenance expenses

56218

Security service expenses

Since the above-mentioned balance sheet accounts are identical in nature, their definitions are provided in a generalized manner. Definition of the accounts: Expenses related to the microcredit organization's rented premises, guards composed of employees of the microcredit organization working on a contract basis who are not considered employees of the microcredit organization, as well as security alarm systems, repairs, storage of the microcredit organization's building, furniture, vehicles, and other equipment, and payments for the microcredit organization's water, electricity, heating networks, and other utility services are recorded. On the debit side of the accounts The amount of calculated and paid expenses for rental and maintenance is reflected. On the credit side of the accounts The amount of refund of incorrectly paid expenses, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56300

BUSINESS TRIP AND TRANSPORT EXPENSES

56302

Business trip expenses

56306

Per diem expenses during business trips

56310

Freight expenses related to the transfer of microcredit organization property

56314

Fuel expenses

Since the above-mentioned balance sheet accounts are identical in nature, their definitions are provided in a generalized manner. Definition of the accounts: Expenses related to employees' business trips of the microcredit organization (transport (business trip expenses), hotel services (other services for accommodation), and per diem expenses within the limit; freight (expenses for transferring equipment and other property between microcredit organization offices, fuel expenses for private and rented vehicles used, as well as expenses for employees' personal cars used for business trips in accordance with the established order) are recorded. On the debit side of the accounts The amount of expenses incurred for business trips and transport is reflected. On the credit side of the accounts The amount of refund of incorrectly paid expenses, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56400

ADMINISTRATIVE EXPENSES

56402

Advertising and announcement expenses

56406

Stationery, office, and other items expenses

56410

Post, telephone, fax expenses

56414

Document stamp expenses

56418

Books, newspapers, and other periodical publications expenses

Since the above-mentioned balance sheet accounts are identical in nature, their definitions are provided in a generalized manner.

Definition of the accounts: Expenses for advertising and announcements provided by the microcredit organization through newspapers, radio, television, and other media; forms; stationery and office supplies; postage and document stamps; telephone and fax; other communication channels for transmitting information (Reuters, SWIFT, Internet, telex, etc.); and expenses for periodical publications, as well as electronic billboards (systems "PRAVO", "NORMA", etc.) are recorded. On the debit side of the accounts, amounts paid for administrative expenses are reflected. On the credit side of the accounts, the amount of refund of incorrectly paid expenses, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56500

REPRESENTATION AND CHARITY

56502

Representation and entertainment expenses

Definition of the account: The amount of expenses incurred for representation and entertainment events carried out by the microcredit organization to develop its position and activities is taken into account.

On the debit side of the account The amount of expenses incurred for representation and entertainment events carried out by the microcredit organization to develop its position and activities is reflected.

On the credit side of the account The amount of incorrectly calculated expenses for representation and entertainment events carried out by the microcredit organization to develop its position and activities, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56506

Membership fees

Definition of the account: The amount of membership fees paid by the microcredit organization for joining clubs, associations, public organizations, and other organizations is taken into account.

On the debit side of the account The amount of membership fees paid for joining clubs, associations, public organizations, and other organizations is reflected.

On the credit side of the account The amount of incorrectly calculated membership fees paid for joining clubs, associations, public organizations, and other organizations, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56510

Donations and charity expenses

Definition of the account: Definition of the account: The amounts of donations provided by the microcredit organization to charity funds, other non-profit charity organizations, and to those suffering from natural disasters are taken into account.

On the debit side of the account The amounts of donations provided by the microcredit organization to charity funds, other non-profit charity organizations, and to those suffering from natural disasters are reflected.

On the credit side of the account The amount of incorrectly calculated donations provided by the microcredit organization to charity funds, other non-profit charity organizations, and to those suffering from natural disasters, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56600

DEPRECIATION EXPENSES

56602

Depreciation amount for microcredit organization buildings and other structures

56610

Depreciation amount for vehicles

56614

Depreciation amount for furniture and equipment

56618

Depreciation amount for intangible assets

56622

Depreciation amount for fixed assets leased out

56626

Depreciation amount for the right to lease objects and improve them

56630

Depreciation amount for fixed assets in inventory

56632

Depreciation amount for fixed assets pledged for obtained loans

Since the above-mentioned balance sheet accounts are identical in nature, their definitions are provided in a generalized manner. Definition of the accounts: Depreciation expenses calculated for the microcredit organization's fixed assets and intangible assets are recorded. On the debit side of the accounts The amount of calculated depreciation is reflected. On the credit side of the accounts The amount of refund of incorrectly calculated depreciation, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56700

INSURANCE, TAXES, AND OTHER EXPENSES

56702

Legal and auditing service expenses

56706

Consulting (consulting) service payment expenses

Since the above-mentioned balance sheet accounts are identical in nature, their definitions are provided in a generalized manner. Definition of the accounts: Payment expenses for legal, auditing, and consulting services provided by lawyers and other firms on a contractual basis to the microcredit organization are recorded. On the debit side of the accounts The amount of expenses incurred for legal and consulting services is reflected. On the credit side of the accounts The amount of refund of incorrectly paid expenses, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56710

Insurance expenses

Definition of the account: Expenses incurred by the microcredit organization for insuring its own property, fire insurance, and other types of insurance related to its activities are recorded. On the debit side of the account The amount of expenses incurred for insurance is reflected. On the credit side of the account The amount of refund of incorrectly paid expenses, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56714

Taxes (excluding profit tax) and licenses

Definition of the account: Expenses of the microcredit organization for taxes, fees, and mandatory allocations such as taxes on property, roads, ecology in accordance with legislation; allocations to the Pension Fund from actual earned income; and other taxes (excluding profit tax), as well as expenses for licenses are recorded. Definition of the account: Expenses of the microcredit organization for taxes (excluding profit tax) and other mandatory payments, as well as for licenses are recorded.

On the debit side of the account The accounting of calculated taxes (excluding profit tax) and other mandatory payments, as well as expenses for licenses is recorded.

On the credit side of the account The amount of refund of incorrectly paid expenses, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56718

Fines and penalty expenses

Definition of the accounts: Expenses incurred by the microcredit organization for penalties and fines imposed on it based on current legislation and rules are recorded. On the debit side of the account The amount of paid fines and penalties is reflected. On the credit side of the account The amount of refund of incorrectly paid fines and penalties, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56722

Expenses related to court proceedings and/or acquisition of assets

Definition of the account: Expenses of the microcredit organization related to court proceedings, as well as expenses for acquiring property by the microcredit organization are recorded. On the debit side of the account The amount of expenses incurred for court proceedings and for acquiring assets is reflected. On the credit side of the account The amount of refund of incorrectly paid expenses, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56795

Other operational expenses

Definition of the account: Expenses that do not correspond to the groups defined above are recorded. On the debit side of the account The amount of paid expenses that do not correspond to the groups defined above is reflected. On the credit side of the account The amount of refund of incorrectly paid expenses, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56800

ASSESSMENT OF POSSIBLE LOSSES

56802

Assessment of possible losses on microloans and microcredits

56814

Assessment of possible losses on acquired receivables - Factoring

56832

Assessment of possible losses on intangible assets

56834

Assessment of possible losses on real estate and other private property

56838

Assessment of possible losses on microleasing (financial lease)

56840

Assessment of possible losses on accrued non-interest income

56842

Assessment of possible losses on microloans, microcredits, and microleasing (financial lease) in court proceedings

56895

Assessment of possible losses on other assets

Since the above-mentioned balance sheet accounts are identical in nature, their definitions are provided in a generalized manner. Definition of the accounts: Assessment of possible losses on the microcredit organization's assets is recorded. On the debit side of the accounts The amount of assessment of possible losses on assets is reflected. On the credit side of the accounts The amount of refund of assessment of possible losses, as well as the amount transferred to account 31206 "Net Profit (Loss) (Asset-Liability)" as the financial result of the microcredit organization at the end of the financial reporting year are reflected.

56900

PROVISION FOR INCOME TAX

56902

Profit Tax Assessment

Definition of the account: Expenses are accounted for regarding taxes calculated on the profit received by the microcredit organization (profit tax and other similar taxes) and the single tax payment (for single tax payers).

Debit of the account reflects the amount of expenses calculated for profit tax and single tax payment.

Credit of the account reflects the amount of return of incorrectly calculated taxes, as well as the amount transferred to account 31206 — "Net profit (loss) (assets-liabilities)" as the financial result of the microcredit organization at the end of the financial reporting year.

90000

UNFORESEEN CASES

90300

SECURITIES

90329

Securities of a microcredit organization in the form of a joint-stock company

Definition of the account: Accounting is maintained for securities issued by a microcredit organization in the form of a joint-stock company that are held until issuance, as well as for private unregistered securities repurchased for redemption (payment) or withdrawal from circulation. Private securities repurchased for redemption (payment) or withdrawal from circulation are accounted for at a conditional price of "1 sum per share." The counter-account for this account is 96314 — "Counter-account for securities of a microcredit organization."

Debit of the account reflects the value of unregistered securities held by the microcredit organization until issuance, as well as the accounting of unregistered securities repurchased by the microcredit organization for redemption (payment) or withdrawal from circulation.

Credit of the account reflects the value of unregistered securities sold by the microcredit organization. It also reflects the accounting of redeemed (paid) or withdrawn corporate unregistered securities.

Analytical accounting is maintained in separate personal accounts for unregistered securities.

90337

Securities purchased by a microcredit organization in the form of a joint-stock company

Definition of the account: Accounting is maintained for private securities purchased by the microcredit organization for resale until the redemption (payment) date. The counter-account for this account is 96314 — "Counter-account for securities of a microcredit organization."

Debit of the account reflects the nominal value of the microcredit organization's own securities repurchased by the microcredit organization.

Credit of the account reflects the nominal value of the microcredit organization's own private securities resold by the microcredit organization.

Analytical accounting is maintained in separate personal accounts for securities.

90900

FINANCING RELATED TO TRADE

90966

Purchased accounts receivable — Factoring

Definition of the account: Accounting is maintained for accounts receivable purchased by the microcredit organization. The counter-account for this account is 96331 — "Counter-account for purchased accounts receivable — Factoring."

Debit of the account reflects the full value of purchased accounts receivable.

Credit of the account purchased accounts receivable fully covered by debtors are written off.

Analytical accounting is maintained in separate personal accounts for each contract.

90993

Guarantees and Sureties

Definition of the account: Accounting is maintained for the nominal value of guarantees and sureties issued or confirmed by the microcredit organization for the benefit of clients, as well as for the nominal value of guaranteed (avalized) bills of other issuers by the microcredit organization. The counter-account for this account is 96337 — "Counter-account for guarantees and sureties."

Debit of the account reflects the amount of issued guarantees, as well as the nominal value of guaranteed bills of other issuers by the microcredit organization.

Credit of the account reflects the amount of guarantees used, as well as unused and expired guarantees written off in the established order, as well as the nominal value of bills of other issuers covered by the microcredit organization's guarantee.

Analytical accounting is maintained in separate personal accounts for each guarantee, as well as by type and term of avalized bills.

91500

INTERESTS AND COMMISSIONS ON ASSETS

91501

Interest calculated on issued microloans, microcredits, and microleases

Definition of the account: Accounting is maintained for interest calculated but not received on issued term and renegotiated microloans, microcredits, and microleases that have expired and are written off from the balance sheet in accordance with established rules, as well as for interest calculated on microloans, microcredits, and microleases transferred to the "non-accrual" status. At the same time, interest calculated but not received on microcredits and microleases in court proceedings and expired is accounted for. The counter-account for this account is 96335 — "Counter-account for interests and commissions on assets."

Debit of the account reflects the amount of interest accrued and/or calculated on microloans, microcredits, and microleases that have expired and/or are calculated.

Credit of the account reflects the amount of interest paid and/or written off.

Analytical accounting is maintained in separate personal accounts depending on the contracts for each debtor.

91505

Interest and commissions on other assets

Definition of the account: Accounting is maintained for interest written off on other assets and intermediaries. The counter-account for this account is 96335 — "Counter-account for interests and commissions on assets."

Debit of the account reflects the amount of interest and commissions on other assets that should be received, which have expired and/or are calculated.

Credit of the account reflects the amount of interest and commissions on other assets that have been paid and/or written off.

Analytical accounting is maintained in separate personal accounts for each client.

91700

OBLIGATIONS OF THE MICROCREDIT ORGANIZATION TO ISSUE MICROLOANS, MICROCREDITS, AND MICROLEASES

91709

Obligation of the microcredit organization to issue microloans, microcredits, and microleases

Definition of the account: Accounting is maintained for the microcredit organization's obligations to issue microloans, microcredits, and microleases to clients or banks. The counter-account for this account is 96351 — "Counter-account for the microcredit organization's obligation to issue microloans, microcredits, and microleases."

Debit of the account reflects the amount of obligations issued by the microcredit organization for issuing microloans, microcredits, and microleases.

Credit of the account reflects the amount of obligations executed or canceled for issuing microloans, microcredits, and microleases, as well as the amount of partial payments.

Analytical accounting is maintained in separate personal accounts by the type of obligations.

91800

OBLIGATIONS OF THE MICROCREDIT ORGANIZATION TO OBTAIN CREDITS AND LEASING (FINANCIAL LEASE)

91816

Obligation of the microcredit organization to obtain credits and leasing (financial lease)

Definition of the account: Accounting is maintained for the microcredit organization's obligations to obtain credits and/or leasing from clients or other banks. The counter-account for this account is 96358 — "Counter-account for the microcredit organization's obligation to obtain credits and leasing (financial lease)."

Debit of the account reflects the amount of obligations issued by the microcredit organization for obtaining credits and/or leasing.

Credit of the account reflects the amount of obligations executed or canceled for obtaining credits and/or leasing.

Analytical accounting is maintained in separate personal accounts by the type of obligations.

91900

OBLIGATIONS OF DEBTORS FOR MICROLOANS, MICROCREDITS, AND MICROLEASES

91901

Debtors' obligations for short-term microloans, microcredits, and microleases

Definition of the account: Accounting is maintained for the term obligations of debtors for short-term microloans, microcredits, and microleases issued by the microcredit organization. The counter-account for this account is 96345 — "Counter-account for debtors' obligations for short-term microloans, microcredits, and microleases."

Debit of the account transfers the amount of term obligations accepted from debtors for issued microloans, microcredits, and microleases.

Credit of the account reflects the amount of fully covered obligations. The amount of partial payments is carried to the back of the obligation until it is fully fulfilled.

Analytical accounting is maintained in separate personal accounts for each debtor.

91905

Debtors' obligations for long-term microloans, microcredits, and microleases

Definition of the account: Accounting is maintained for the term obligations of debtors for long-term microloans, microcredits, and microleases issued by the microcredit organization. The counter-account for this account is 96349 — "Counter-account for debtors' obligations for long-term microloans, microcredits, and microleases."

Debit of the account transfers the amount of term obligations accepted from debtors for issued microloans, microcredits, and microleases.

Credit of the account reflects the amount of fully covered obligations. The amount of partial payments is carried to the back of the obligation until it is fully fulfilled.

Analytical accounting is maintained in separate personal accounts for each debtor.

94500

SECURITIES, PROPERTY, AND PROPERTY RIGHTS (CLAIMS) AS COLLATERAL

94501

Securities received as collateral

94502

Property and property rights (claims) received as collateral

Due to the fact that the above-mentioned balance sheet accounts are similar in nature, their definitions are presented in a generalized form.

Definition of the accounts: Accounting is maintained for property and property rights (claims) and securities held as collateral for issued microloans, microcredits, and microleases. Property and property rights (claims) received as collateral are recorded in the account at their assessed value at the time the collateral agreement is concluded. The counter-account for this account is 96381 — "Counter-account for securities, property, and property rights (claims) as collateral."

Debit of the accounts reflects the value of property and property rights (claims) and securities accepted as collateral security.

Credit of the accounts reflects the amount of used property and property rights (claims) and securities accepted as collateral or returned after the microcredits, microloans, and microleases and interest are covered.

Analytical accounting is maintained in separate personal accounts for each microloan, microcredit, and/or microlease contract.

94503

Guarantees and sureties received as collateral

Definition of the account: Accounting is maintained for guarantees and sureties accepted as security for issued microcredits, microloans, and microleases, as well as for insurance policies. The counter-account for this account is 96381 — "Counter-account for securities, property, and property rights (claims) as collateral."

Debit of the account reflects the amount of guarantees and sureties accepted as security for issued microcredits, microloans, and microleases.

Credit of the account reflects the amount of security used when microloans, microcredits, and microleases are not returned, as well as the amount of unused and canceled guarantees and sureties upon expiration of the term after the credits are returned and after the credit contracts are closed.

Analytical accounting is maintained in separate personal accounts for each relevant contract.

95400

OTHER UNFORESEEN CASES ACCOUNTS

95413

Written-off microloans, microcredits, and microleases

Definition of the account: Accounting is maintained for the (unpaid portion) of microcredits, microloans, and microleases written off from the microcredit organization's balance sheet in accordance with current rules. The counter-account for this account is 96397 — "Counter-account for other unforeseen cases accounts."

Debit of the account reflects the amount of written-off microloans, microcredits, and microleases.

Credit of the account reflects the amount of recovered or paid microloans, microcredits, and microleases, as well as the amount of microloans, microcredits, and microleases canceled upon expiration of the established term.

Analytical accounting is maintained in separate personal accounts for each debtor depending on the relevant contracts.

95497

Other unforeseen cases accounts

Definition of the account: Accounting is maintained for operations that do not fall under the definition of the above group of accounts. The counter-account for this account is 96397 — "Counter-account for other unforeseen cases accounts." Debit of the account reflects the value of funds, documents, or other valuable items entered.

Credit of the account reflects the amount of funds, documents, or other valuable items written off.

Analytical accounting is maintained in separate personal accounts by the type of documents and other valuable items.

96300

COUNTER-ACCOUNTS FOR UNFORESEEN CASES

96314

Counter-account for securities of a microcredit organization

96331

Counter-account for purchased accounts receivable — Factoring

96335

Counter-account for interests and commissions on assets

96337

Counter-account for guarantees and sureties

96345

Counter-account for debtors' obligations for short-term microloans, microcredits, and microleases

96349

Counter-account for debtors' obligations for long-term microloans, microcredits, and microleases

96351

Counter-account for the microcredit organization's obligation to issue microloans, microcredits, and microleases

96358

Counter-account for the microcredit organization's obligation to obtain credits and leasing (financial lease)

96381

Counter-account for securities, property, and property rights (claims) as collateral

96397

Counter-account for other unforeseen cases accounts

(Attachment 1 to the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 22/6 dated September 14, 2019 (registry number 1728-4, 25.10.2019) — National Database of Legislative Acts, 25.10.2019, No. 10/19/1728-4/3958)

Guidelines on Maintaining Accounting Records in Microcredit Organizations

1 1 - ATTACHMENT

STATUTE

On the Chief Accountant of a Microcredit Organization

I. General Provisions

1. This Statute applies to the chief accountants of microcredit organizations of the Republic of Uzbekistan.

The head of the executive body of the microcredit organization is responsible for organizing accounting. The head must create the necessary conditions for the proper maintenance of accounting records and ensure that the requirements of the chief accountant regarding the formalization and submission of documents and data for accounting are strictly complied with by the subdivisions, services, and employees of the microcredit organization involved in accounting.

2. The chief accountant ensures the organization of accounting in the microcredit organization, as well as the rational and economical use of material and financial resources and control over the preservation of property.

The chief accountant of the microcredit organization is appointed and dismissed by the head of the executive body of the organization. If the microcredit organization has a higher institution, the appointment and dismissal of the chief accountant are agreed upon with the head and chief accountant of the higher microcredit organization, and the chief accountant is directly subordinate to the head of the higher organization. Regarding issues related to the organization of accounting, preparation of reports, control procedures, and methodology, the chief accountant is directly subordinate to the chief accountant of the higher organization.

3. The accounting department headed by the chief accountant of the microcredit organization is considered an independent structural subdivision and should not be part of any other subdivision.

4. Persons with higher economic or secondary specialized economic education and at least 3 years of work experience in this specialty are appointed to the position of chief accountant of the microcredit organization.

5. When appointing and dismissing the chief accountant, the state of accounting and reporting is checked, and the acceptance and handover process of the subdivision is formalized by a protocol after being approved by the head of the microcredit organization. If a higher organization exists, a copy of this protocol is sent to the higher management body of the microcredit organization. In necessary cases, a representative of the higher organization participates in the acceptance and handover process by the chief accountant.

6. The chief accountant cannot be assigned tasks directly related to material liability for funds and material assets, nor can they be assigned to perform the duties of the head of the microcredit organization during their temporary absence. The chief accountant is prohibited from directly accepting microcredit organization funds and material assets based on checks and other documents.

7. During the chief accountant's temporary absence (business trip, vacation, illness, etc.), the rights and obligations of the chief accountant pass to their deputy, and an order is issued by the microcredit organization regarding this.

II. Duties of the Chief Accountant

8. The chief accountant must organize accounting based on established rules and ensure the following:

• proper organization of accounting, timely and correct reflection of operations in accounting accounts;
• organization of document circulation, daily balance sheet preparation, and submission to the relevant place, ensuring that incoming payment documents of the microcredit organization pass through the processing units within strict timeframes and are reflected in the relevant accounts of the microcredit organization;
• ensuring that incoming payment documents of clients are correctly formalized according to their form and content, as well as their lawful execution and preservation of funds and assets;
• preservation of strict accountability forms and correct maintenance of their accounting;
• checking the correct formalization of electronic payment documents by comparing them with the original copies of documents;
• preparation of the balance sheet;
• timely collection (by the end of the working day or no later than 10:00 AM the next day) and formalization of accounting (income-expenditure) documents, as well as their submission to the archive in the established order;
• wide use of advanced forms and methods of accounting;
• full maintenance of accounting for incoming funds, material assets, and fixed assets, as well as timely reflection of all operations related to their movement in accounting;
• correct and timely calculation of interest on clients' credit and debt accounts;
• conducting inspections with the head of the executive body of the microcredit organization regarding the formalization of materials on shortages and embezzlement of funds and material assets, and controlling the submission of these materials to courts and investigative bodies in relevant cases;
• checking the proper organization of accounting and reporting, and timely providing guidance to employees on issues of accounting, reporting, control, and economic analysis;
• preparation of accounting reports reflecting the actual situation based on primary documents and accounting records, and submitting these reports to the Central Bank of the Republic of Uzbekistan and relevant bodies within established timeframes;
• preparation of annual reports on the accounting indicators of the microcredit organization's branches under its management in the established order and submission to the relevant places within established timeframes;
• conducting economic analysis of the microcredit organization's financial activities in cooperation with other subdivisions based on accounting and reporting data;
• preservation of accounting documents, their formalization in the established order, and submission to the archive.

9. The chief accountant must closely monitor the following together with the employees of relevant subdivisions and services:

a) compliance with established rules in the formalization of acceptance and handover of material assets;

b) correct expenditure of the wage fund, correct establishment of official salaries, and strict compliance with staffing, financial, and cash discipline;

c) inventory of funds, material assets, and fixed funds, and compliance with established rules for settlements and payment obligations;

d) timely collection of accounts receivable and repayment of accounts payable within established timeframes, and compliance with payment discipline;

e) lawful write-off of shortages, accounts receivable, and other losses from the balance sheet reports of accounting.

10. The chief accountant must actively participate in preparing measures to prevent the occurrence of shortages, illegal expenditure of funds and material assets, and violations of financial and economic legislation. In cases where it becomes known that officials are committing illegal actions (i.e., overstatement, improper use of funds, and other violations and abuse of office), the chief accountant must inform the head of the executive body of the microcredit organization to take measures.

11. Documents serving as the basis for accepting and issuing funds and material assets, as well as credit and settlement agreements, are signed by the head and chief accountant or other persons to whom such authority has been granted. The granting of the right to sign documents to these authorized persons is formalized by an order issued by the microcredit organization.

Documents to which the chief accountant or other authorized persons have not signed are not considered valid and are not accepted for execution by the responsible persons of the microcredit organization.

12. The chief accountant is prohibited from accepting for execution and formalizing documents related to operations that contradict legislative acts and the established procedure for accepting, storing, and spending funds, material, and other assets.

III. Rights of the Chief Accountant

13. The chief accountant establishes service duties for employees subordinate to them. In this regard, each employee must know their obligations and be responsible for their execution.

14. The requirements of the chief accountant regarding the formalization of executed operations and the submission of documents and data to the accounting department for sending through electronic payment systems are mandatory for the branches and departments of the microcredit organization.

In case of non-execution or violation of the instructions given by the chief accountant based on the tasks assigned to him, persons guilty are identified and, in accordance with the established procedure, are deprived of the bonus in full or in part by order of the head of the microcredit organization.

The branches and departments of the microcredit organization:

are fully responsible for the legality of the operations being performed and their proper formalization;

must submit documents necessary for maintaining, controlling, and sending accounting to the accounting department on time.

Officials who prepared and signed these documents are liable for the poor structure and formalization of these documents, delays in their submission for recording in accounting records and reports, inaccuracies in the data in the documents, as well as for the preparation of documents reflecting illegal operations. The list of officials assigned the task of preparing primary documents and authorized to sign these documents is agreed upon with the chief accountant.

15. Issues regarding the appointment, dismissal, and transfer to another position of persons materially liable (cashiers, warehouse managers, etc.) are resolved with the agreement of the chief accountant.

16. Orders and decrees on establishing salaries, wage supplements, and bonuses for employees are first reviewed and signed by the chief accountant.

17. The chief accountant has the following rights:

a) to demand from the head of the microcredit organization measures to ensure the proper organization of accounting and control work;

b) to monitor compliance with the established procedure for the receipt, recording, storage, and expenditure of funds, goods-material, and other assets in structural subdivisions;

c) to make proposals on reducing the amount of bonuses or depriving of bonuses.

18. The head of the executive body of the microcredit organization is obliged to provide detailed assistance to the chief accountant in fulfilling his obligations and exercising his rights provided for in this Regulation.

Any attempts to exert pressure on the chief accountant for fulfilling these obligations and exercising his rights must be firmly stopped, and persons guilty of this must be held strictly accountable.

IV. Liability of the Chief Accountant

19. The chief accountant is liable in the following cases:

a) if accounting is maintained incorrectly, resulting in a chaotic state of accounting records and distortion of accounting reports;

b) if documents are accepted and formalized for operations contrary to the established procedure for the receipt, recording, storage, and expenditure of funds, goods-material, and other assets;

c) if operations on the accounts of the microcredit organization, as well as settlements with debtors and creditors, are carried out late and incorrectly;

d) if the procedure for writing off shortages, receivable debts, and other losses from accounting balance reports is violated;

e) if incorrect accounting reports are prepared due to accounting errors;

f) if other regulatory documents regarding the organization of accounting are violated.

20. The chief accountant is jointly liable with the head of the executive body of the microcredit organization in the following cases:

a) violation of rules and regulations governing financial and economic activities;

b) failure to timely recover the amount of damage caused by officials;

c) violation of deadlines for submitting daily, monthly, quarterly, and annual balance reports and other accounting reports and balances to the relevant bodies;

d) for the legality and integrity of data reflected in the balance sheet of the microcredit organization and payment documents transferred through the electronic payment system, as well as for daily archiving.

21. The disciplinary, material, and criminal liability of chief accountants is determined in accordance with current legislation. (Paragraph 1 added based on Resolution No. 22/6 of the Board of the Central Bank of the Republic of Uzbekistan dated September 14, 2019 (Registration No. 1728-4, 25.10.2019) — National Database of Legislative Acts, 25.10.2019, No. 10/19/1728-4/3958)

Guidelines on Accounting in Microcredit Organizations

APPENDIX 2

List of Main Duties of Accounting Staff of Microcredit Organizations

The duties of an accounting employee are as follows:

1. Processing payment documents received from clients and employees of the microcredit organization for accounts maintained by the accounting employee.

2. Checking the legality of operations performed on all incoming payment documents and their compliance with lending and settlement rules.

The numbers and amounts indicated in payment documents written for payment for goods and services, in waybills or other documents replacing them, are checked;

The presence of authorization signatures of the head of the microcredit organization or a person authorized by him in documents related to the issuance of microcredits and regulation of personal loan accounts is checked.

3. Checking that payment documents and attached waybills or other documents replacing them are properly formalized and drawn up on forms specified in the established format, and that all required requisites are correctly filled in;

the absence of correction and additional number insertion marks in amounts written in numbers and words, and that blank spaces in payment documents are crossed out to prevent the writing of additional numbers;

the correspondence of additional copies of the document to the first copy, the presence of signatures and seal impressions (the requirement for a seal does not apply to subjects of entrepreneurial activity) in the document in the established manner, and their correspondence to previously provided samples; (The third sub-paragraph of paragraph 3 was edited by Resolution No. 5/9 of the Board of the Central Bank of the Republic of Uzbekistan dated March 16, 2019 (Registration No. 1728-3, 08.04.2019) — National Database of Legislative Acts, 08.04.2019, No. 10/19/1728-3/2896)

the correctness of the entry regarding the presentation of the recipient's passport in the cash expenditure order, the presence of notes in cash expenditure orders and other documents indicating the receipt of money and other valuables by the owner specified in the checks, and the authenticity of these written notes.

4. Comparing signatures of other accounting employees who initiated certain operations with previously established samples, and in necessary cases, signatures of relevant controlling employees in documents received from them, and checking their proper formalization. Checking that the forms of documents received from other accounting employees correspond to the type of operation being performed.

5. Checking cashier signatures in incoming cash documents against samples.

6. Recording cash payments issued to clients in the established manner in appropriate vouchers.

7. Signing documents accepted for execution and prepared by the executor themselves.

8. Maintaining vouchers for payment documents accounted for in "Unforeseen Circumstances" accounts.

9. Calculating penalty and interest amounts for microfinance services provided, as well as for late payment of document fees or loan repayment deadlines.

10. Checking the correctness of entries in personal accounts. The correctness of entries in personal accounts is checked by comparing them with original documents serving as the basis for these entries in the debit of the account, and with electronic copies of incoming documents in the credit.

11. Collecting and storing accounting data and submitting them to the current archive on time.

12. Preparing reports specified for executed operations.

13. Executing letters and complaints from clients and other microcredit organizations and banks regarding operations being performed and clients served by the current microcredit organization.

14. Compliance with the document circulation schedule and client service schedule.

Guidelines on Accounting in Microcredit Organizations

APPENDIX 3

Form of Cash Expenditure Order

(Appendix 3 edited by Resolution No. 13/2 of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011 (Registration No. 1728-1, 03.06.2011) — O'zbekiston Respublikasi Qonun Hujjatlari Majmuasi, 2011, No. 22-23, Article 239)

Guidelines on Accounting in Microcredit Organizations

APPENDIX 4

(Appendix 4 edited by Resolution No. 5/9 of the Board of the Central Bank of the Republic of Uzbekistan dated March 16, 2019 (Registration No. 1728-3, 08.04.2019) — National Database of Legislative Acts, 08.04.2019, No. 10/19/1728-3/2896)

Guidelines on Accounting in Microcredit Organizations

APPENDIX 5

For 20__ year __________

General Ledger

Annex 16 to the Instructions on Maintaining Accounting in Microcredit Organizations, as amended by Resolution No. 5/9 of the Board of the Central Bank of the Republic of Uzbekistan dated March 16, 2019 (registry number 1728-3, 08.04.2019) — National Database of Legislation of the Republic of Uzbekistan, 08.04.2019, 10/19/1728-3/2896

ANNEX 17

Page number ______

CASH BOOK

__________________ microcredit organization

Date ______________________

Receipt

Microcredit

Microloan

Microleasing

Payment for overdue payments

Interest

Surcharges

Other receipts: (transfer)

---

Total cash receipts: (A)

Expense:

Microcredit

Microloan

Other expenses (transfer)

Total cash expense (B)

Increase (decrease) in cash (A) - (B)

MINUS: Cash decrease

PLUS: Cash increase

Net increase (decrease) in cash

PLUS: Opening balance

Closing balance**

Established cash limit balance

Must be equal to the amount submitted by the cashier

Prepared by Date:

Checked by Date:

Annex 18 to the Instructions on Maintaining Accounting in Microcredit Organizations, as amended by Resolution No. 13/2 of the Board of the Central Bank of the Republic of Uzbekistan dated April 30, 2011 (registry number 1728-1, 03.06.2011) — O‘zbekiston Respublikasi Qonun Hujjatlari To‘plami (Collection of Legislation of the Republic of Uzbekistan), 2011, No. 22-23, Article 239

Form of Fixed Asset Inventory Card

____________________ microcredit organization

No.________

FIXED ASSET INVENTORY CARD

Account number:________________ Sub-account number:________________

List of assets: ________________

---

Asset number: _________________ Date acquired: ____________________

Asset location: ________

Date sold: ___________________

Date removed: ________________

Method of removal _______________

Depreciation calculation methods: ________________________

Salvage value: __________________

Useful life: __________

Inventory date: ___________

Acquisition cost ** : ___________

Date approved: ________________

Date sold: ___________________

Date approved: ________________

Date

Description

Debit

Credit

Balance

** Including all taxes, transportation and installation costs

Annex 19 to the Instructions on Maintaining Accounting in Microcredit Organizations, as amended by Resolution No. 5/9 of the Board of the Central Bank of the Republic of Uzbekistan dated March 16, 2019 (registry number 1728-3, 08.04.2019) — National Database of Legislation of the Republic of Uzbekistan, 08.04.2019, 10/19/1728-3/2896

Power of Attorney

Power of Attorney No.__________

Issued on 20__ year “”____________________________________

The Power of Attorney is valid until 20__ year “____” ____________________.

---

Name and address of the microcredit organization

Person to whom the power of attorney is issued ___________________________________________

Position and Full Name

Passport series ________________ No. ___________________

Issued by ______________________________________________

Date of issue __________________ year “___” __________________________

_______________________________________________________________ from

Name of the supplier

---

Document name, number and date

for receiving material assets.

Back side

List of material assets to be received

No.

Name of material assets

Unit of measurement

Quantity (in words)

1

2

3

4