Regulatory Alerts2005-09-10 | 19/5Added · Updated
Regulation on the Accounting of Financial Assets in Commercial Banks
The Central Bank of Uzbekistan approved a regulation establishing the rules for accounting for financial assets in commercial banks in accordance with International Financial Reporting Standards. The document defines key terms, classifies financial assets into trading, held-to-maturity, and available-for-sale categories, and mandates specific initial recognition, subsequent measurement, and derecognition procedures. It details the amortization of premiums, discounts, and transaction costs using the effective interest rate method and prescribes specific accounting entries for fair value adjustments and profit or loss recognition. This regulation was registered in 2005 but was officially recognized as having lost its legal force on April 25, 2023.
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