Regulatory Alerts1997-10-24 | 363Added · Updated
Rules for Revaluation of Currency Account Balances in the Assets and Liabilities of Banks of the Republic of Uzbekistan in the Multi-Currency Accounting System
The Central Bank of Uzbekistan's Rules establish the mandatory procedure for banks to revalue currency account balances in their assets and liabilities at the end of each working day using the Central Bank's exchange rate. The document specifies that revaluation results in profit or loss, which is recorded through specific accounting entries debiting or crediting account 17101 'Currency Position Accounts' and corresponding profit or loss accounts. It also details the accounting treatment for foreign currency transactions and the purchase of fixed assets with foreign currency, including illustrative examples in the appendices.
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