Azerbaijan adopts rules for commercial organizations to make annual financial reports
Azerbaijan, Baku, June 1 / Trend N.Ismayilova /
The Azerbaijani Cabinet of Ministers approved rules for submitting, reporting and publishing annual financial statements and consolidated financial statements at commercial enterprises.
The rules apply to commercial organizations, except credit institutions and small business entities.
The annual financial statements include financial statements, reports on profit and losses, cash flows, accounting policies and notes with explanations.
Commercial organizations must submit financial statements by April 30 and June 30 at the end of the reporting period.
Commercial organizations that have adopted consolidated financial statements should present them to their founder company or higher organization.
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