logo
EN
РУ EN ЎЗ
  • Uzbekistan
  • Economy
  • Finance
  • Technologies
  • Markets
  • Culture
  • Sports
  • Tourism
EN
РУ EN ЎЗ

ADB assists Uzbekistan in transition to International Financial Reporting Standards

ADB assists Uzbekistan in transition to International Financial Reporting Standards

11/11/2022 17:37

Tashkent, Uzbekistan (UzDaily.com) -- The Asian Development Bank is assisting the Ministry of Finance (MOF) under the ongoing Small and Medium Enterprise Development Program to strengthen Uzbekistan’s capacity to adopt financial reporting based on International Financial Reporting Standards (IFRS) for small and medium-sized enterprises (SMEs).

In particular, technical assistance is provided for the further development of the National Financial Reporting Standard (NFRS) based on IFRS for small and medium-sized businesses.

During a three-day workshop held on 8-10 November 2022, ADB consultant Ian Ritchie, who has been supporting the development of the NFRS for Uzbekistan since 2020, presented the differences between the new system and the current accounting system to Ministry of Finance staff, accounting specialists, and the academic community of the Tashkent State University.

In particular, the seminar covered the following topics:

-global accounting practice for SMEs;

- application of IFRS in Uzbekistan;

- steps to implement IFRS in companies;

-principles, concepts and requirements of the NFRS;

-Relationship between the NFRS and the Tax Code.

The introduction of new standards into practice is planned from January 1, 2024 after a wide discussion with specialists.

 

Latest News

High-speed train "Afrosiyob" in Navoi region knocked down several sheep on the railway tracks

26/01/2023Read more

Tourism potential of Uzbekistan promoted on BBC and CNN

26/01/2023Read more

Eight trading houses to be opened in Kyrgyzstan to establish trade in leather, footwear and fur products

26/01/2023Read more

Currency rates from 24/01/2023

$ 1 11290.27 -0.174%
€ 1 12319.94 +0.573%
₽ 1 164.55 -0.097%
Other currencies »
  • Ronaldo in Uzbekistan
  • Measures on Qoqand development
  • Uzbekistan in figures. 2009.
  • ADB’s 43rd Annual Meeting
  • Uzbekistan in figures. 1H 2010.
  • Art Week Style.uz 2010
  • Uzbekistan in figures. January-September 2010.
  • Uzbekistan in figures. 2010.
  • Uzbekistan in figures. 1Q 2011.
  • London 2012
  • Incheon-2014
  • Elections-2014
  • Reforming public finance management system
  • Rio-2016
  • Elections-2016
logo
  • Registration Certificate of Uzbekistan Press
  • and Information Agency No. 0601 from 28
  • October 2009.
  • Founder: DAILY MEDIA
  • Chief Editor: Umarov Anvar Abrardjanovich
  • Address: Yunusabad 12-27-73, Tashkent,
  • 100180, Uzbekistan

About us

  • About Us
  • Condition of Use
  • Privacy Policy
  • Gadgets
  • Advertisement

Social pages

  • Facebook

  • Twitter

  • Google+

  • Telegram

© 2007-2022 UzDaily. All rights reserved.
Registration Certificate of Uzbekistan Press and Information Agency No. 0601 from 28 October 2009.

18+