RegAlertRule · BNA · 18 Nov 1994
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.
INSTRUCTION NO. 11/94
SUBJECT: FINANCIAL SYSTEM
- Determination of Results
It is appropriate to establish the accounting procedures that must be observed by Exchange Houses in accordance with the Chart of Accounts approved by Dispatch No. 41/94 of November 10;
Under the provisions of Article 43 of the Organic Law of the Bank of Angola,
I DETERMINE:
1 - The accounting principle of monthly determination of costs and revenues in the records of operations is established.
Thus, all costs and revenues by nature, including financial charges, must be recorded in the accounts of classes 7 and 8 of the Chart of Accounts, regardless of their payment or receipt.
2 - This instruction enters into force from the month of January 1995.
Luanda, November 18, 1994
THE GOVERNOR
GENERESO HERMENEGILDO DE ALMEIDA
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