Regulatory Alerts1994-11-18
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Instruction No. 11/94 on the Financial System - Determination of Results
The Governor of the Bank of Angola issued Instruction No. 11/94 to establish accounting procedures for exchange houses regarding the determination of results. The directive mandates the monthly accrual of all costs and revenues, including financial charges, in accounts 7 and 8 of the approved Chart of Accounts regardless of cash flow timing. This instruction became effective starting in January 1995.
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