Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan has approved new rules for accounting foreign currency transactions.

The corresponding National Accounting Standard (NAS №22), titled "Accounting for Assets and Liabilities Denominated in Foreign Currency," has been registered with the Ministry of Justice.

NAS №22 establishes the accounting rules for foreign currency transactions for legal entities operating within Uzbekistan, regardless of ownership form.

The exceptions include budget organizations, banks, non-bank credit institutions, and foreign branches.

The standard also regulates the disclosure of these transactions in financial statements.

Foreign currency transactions include:

the purchase or sale of goods, works, and services in foreign currency;

borrowing or lending money in foreign currency, subject to repayment or receipt;

purchasing or selling assets, or assuming or settling liabilities in foreign currency.

When conducting foreign currency transactions, they are recognized in accounting at the exchange rate of the foreign currency to the soum on the date of the transaction.