Azerbaijan, Baku, Jan.07 / Trend , N.Ismayilova /
Azerbaijan has approved the rules of submission, promulgation of accounting periods on financial accounting by budget organizations and non-budget state funds.
According to the new rules, organizations and funds should submit annual financial accounting to the country's Ministry of Finance on the basis of appropriate standards. Annual financial accounting should be submitted in the following order: financial accounting on organizations' offices on completion of accounting period by Apr. 30, consolidated financial accounting no later than June 30 of the next year.
Annual financial accounting of state funds on completion of accounting period should be submitted no later than Apr. 30 of the next year.
The accounting period for budget organizations and state funds is determined from Jan.1 to Dec. 31 inclusive. Organizations and funds established after Oct.1 should submit accountancy during the period from the date of registration to Dec.31 of the next year.
Funds and organizations should promulgate annual financial accounting on their websites and publications.