What is NAS No. 20?
Also known as: Simplified Procedure for Accounting by Small Business Entities
NAS No. 20 “Simplified Procedure for Accounting by Small Business Entities” sets out simplified accounting that small business entities may choose voluntarily: transactions are recorded chronologically in a journal and posted to an accounting book. It does not apply to individual entrepreneurs or farms. Approved by Order No. 70 of the Minister of Finance dated 16 July 2013 (registered with the Ministry of Justice on 14.08.2013, No. 2501).