On 30 January 2017, the Ministry of Finance approved the rules for accounting in accordance with International Financial Reporting Standards.
These rules have been developed in accordance with the Law of the Republic of Azerbaijan on “Accounting”. Except for credit institutions, these rules govern the accounting procedures for commercial organizations, public legal entities, and individuals conducting entrepreneurial activities without establishing a legal entity. These Rules apply to micro, small, medium and large business entities, as well as public legal entities, when they prepare financial statements based on International Standards.
A chart of accounts complying with international standards has been prepared and formally approved under these rules.
You may download the chart of accounts in Excel format using the following link: