This order of the Ministry of Finance introduces amendments to regulatory legal acts on accounting in the public sector.
Essence of changes:
1. The Chart of Accounts for Public Sector Accounting is being updated – new sub-accounts are added and existing names are clarified for more accurate reflection of budget funds operations.
2. Changes are being made to the Procedure for Applying the Chart of Accounts – the procedure for accounting operations on new and modified sub-accounts is being clarified.
3. Typical correspondence of sub-accounts is being updated to reflect operations on execution of state and local budgets.
Main provisions:
– The list of sub-accounts for accounting operations with budget funds of managers and recipients has been expanded
– Account names for reflecting debt on credits and loans have been clarified
– New sub-accounts for accounting credits for investment projects have been added
– Account correspondence for reflecting budget execution operations has been updated
The most important changes concern:
– Accounting of operations with budget funds in bank accounts
– Reflection of debt on credits and loans
– Accounting of foreign currency operations
– Account correspondence when making expenditures
