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Explanations of accounting, taxes and audit in Uzbekistan. Articles not yet translated are shown in Uzbek.
What are wages and how are they calculated?
The tenth Basics lesson: the pay of two workers at a car wash is calculated in two different ways. One by the number of cars washed, the other by the days worked. We see what wages mean for the worker and for the employer.
What are savings and how are they built up?
The ninth Basics lesson: if a schoolgirl who dreams of a bicycle puts money aside every week, when will she reach her goal; and how does a family build a reserve for an unexpected day. With a table of weeks and months.
Debt: lending and borrowing
The eighth Basics lesson: the credit notebook of a neighbourhood shop, how the shopkeeper himself owes someone too, and the charge paid on top of a loan. We look at both sides of a debt in a simple table.
What are ownership and property?
The seventh Basics lesson: which things in a seamstress's home are hers, and which she has only taken to use. We make a list of her property and calculate its value.
How are profit and loss calculated?
The sixth Basics lesson: two weeks of a watermelon seller, one ending in profit and the other in loss. We calculate how much is left from one watermelon and how a loss can be reduced.
One set of data, the whole company: how did ERP systems emerge, and how did they change accounting?
In the 1960s factories began calculating their raw material needs by computer, in 1972 five former IBM employees founded SAP, and in the early 1990s the term "ERP" appeared. Accounting turned from a separate program into part of the company's shared system. Short theses and a calculation of how much time reconciliation between separate programs takes.
From caravan route to the UNESCO list: where does the name "Silk Road" come from, and which of its parts are on the World Heritage List?
The name "Silk Road" for the route caravans travelled for centuries appeared much later, in 19th-century works in German. Today parts of this route stand on the UNESCO World Heritage List as "corridors": the Chang'an–Tianshan Corridor in 2014 and the Zarafshan–Karakum Corridor in 2023. Short theses and a calculation of how prices grow in trade with many intermediaries.
From state statistics to official statistics: Uzbekistan's statistics laws and the 2026 population census
Statistical work in Uzbekistan was governed first by the 2002 Law "On State Statistics" and, since 2021, by the Law "On Official Statistics". The statistics office was reorganised in 2022 and 2025, and at the start of 2026 the first nationwide population census since 1989 was held. Short theses and a calculation of how a per capita indicator changes when the population figure changes.
1992, 2000, 2021: how has Uzbekistan's law on auditing activity changed?
Audit in Uzbekistan has gone through a three-stage legislative path: the first text of 1992, the new version of 2000 and Law No. ZRU-677 adopted in 2021. Today the international standards on auditing are directly the standards of auditing activity. A table of dates, how long each text was in force and which law to cite in an audit engagement contract.
From law to standard: how have Uzbekistan's accounting rules taken shape from 1996 to today?
An accountant's daily work rests on a two-tier set of rules: at the top, the Law "On Accounting", and beneath it, the national standards (NAS, BHMS). The Law was adopted in 1996 and issued in a new version in 2016, while the standards were renewed in several waves from 1998 to 2024. A table of dates, official documents and the rules by which to read an archived report.
The seller pays the levy, but who bears its burden? Elasticity of demand and the question of who really pays
Suppose a fixed levy of 3 000 soums per box is introduced. For one product the price rises by only 1 000 soums and the seller bears the other 2 000 soums; for another the price goes up by 2 400 soums. Who pays the difference is decided not by what the law says, but by how sensitive buyers and sellers are to price. A calculation using two markets.
How many minutes should you promise a customer for delivery? Not the average, but the 90th percentile
Delivery takes 34.5 minutes on average. If you promise "delivered in 35 minutes", 6 of the 20 orders in the example, that is three in every ten, would have been late. What a percentile is, how to find the 90th percentile, why Excel gives a slightly different number, and which measure to base a service time on.
The bank sells currency at one rate and buys it at another: what does an exchange really cost?
A firm bought 10 000 dollars, a week later the contract was cancelled and it sold the dollars back to the bank. The rate did not change, yet 1.5 million soums disappeared. How the gap between the selling and buying rates works, why the lowest rate is not always the cheapest, and what is fixed in the accounts and what is left to the accounting policy.
The damage happened last year, the claim came this year: will the liability policy pay? Occurrence and claims-made terms
A design firm's error happened in 2024, and the client made a claim in 2025. Which year's policy responds, and does it respond at all? The two main principles of liability policies, the retroactive date and the extended reporting period, with a table of four situations.
The cheap mixer lasts 3 years, the expensive one 6: which costs less per year? The equivalent annual cost method
One dough mixer costs 90 million soums and lasts 3 years, the other 150 million and 6 years. The present value of costs is much lower for the first, but this comparison is wrong: the lifespans differ. Equivalent annual cost brings both machines to a "price per year", and the answer comes out the other way round. The calculation, a check and the limits of the method.
How does an auditor check a figure estimated by management: auditing accounting estimates (ISA 540, revised) and three approaches
An allowance for doubtful debts, a warranty provision, the net realizable value of inventories: these figures are not copied from a document, they are estimated. What ISA 540 requires of the auditor, what estimation uncertainty, complexity and subjectivity are, the three testing approaches and looking back at last year's estimates: on the example of a tile trader.
Two years of losses, a profit in the third: how does carrying a loss forward reduce corporate profit tax, and why is it not taken into account in quarterly calculations?
A company making plastic containers closed 2024 and 2025 with a loss and moved into profit in 2026. In what order are losses carried forward under Article 333 of the Tax Code, how much tax is saved, what happens to the tax paid for the quarters, and in which cases is a loss not carried forward: a calculation year by year.
Scissors, overalls, desk sets: when do tools, implements and household supplies become an expense, and why are they tracked again on off-balance sheet account 014?
A sewing workshop bought scissors, overalls for its staff and desk sets for the accounting office. They are not fixed assets, but they do not vanish in one go either. The criteria of NAS No. 4, writing off from account 1080 to expenses, control on off-balance sheet account 014 and write-off when items become unusable: a numerical example and journal entries.
6 methods of determining customs value: how do you move on to the next one if the first does not work, and does it affect the cost of the goods?
The contract price does not always become the customs value. The Customs Code requires six methods to be applied in strict order. When each method is used, what is prohibited under the fallback method and how customs value differs from cost in the accounts: 8 points and a worked example of the deductive method.
Destruction (code 76) and abandonment in favour of the state (code 75): how to get rid of unusable or unneeded foreign goods without duty, and what is recorded in the accounts?
Part of a consignment of glass that arrived at the border is broken, and another part is cut to a size that does not match the order. Must they be imported with duty paid, or can the destruction and abandonment in favour of the state procedures help? Conditions, documents, prohibitions and accounting entries on the example of one company.
Income and expenses: shown on a family and a shop
The fifth Basics lesson: where money comes from, where it goes and what is left at the end of the month. We put one family budget and the accounts of one bread shop side by side.
Goods and services: what is the difference?
The fourth Basics lesson: the difference between a thing you can hold and take home and work that someone does for you. Shown with a barber, a baker and a cafe.
What is a price and how does it appear?
The third Basics lesson: what is hidden inside the price of one loaf, how a baker works out his price, and why tomatoes get more expensive in winter. With simple examples.
What is a market?
The second Basics lesson: is a market only stalls and counters, who meets there, and why three bakers on one street are good for the buyer. In the simplest words.
What is money and why do we need it?
The first Basics lesson: how hard it would be to get bread without money, what three jobs money does, and how pocket money can turn into a big purchase. For a reader who knows nothing yet.
Who is who in an insurance contract: beneficiary, sum insured, rate and deductible shown on one café
The second lesson of the course: the parties to an insurance contract (insurer, policyholder, insured person, beneficiary, agent and broker) and eight key terms, with a hypothetical calculation of insuring a café's equipment against fire.
The three functions of money and the first terms of finance: inflation, interest and liquidity shown on a family's savings
The second lesson of the course: which three functions money performs, seven key terms of finance (money, currency, inflation, interest rate, time value of money, liquidity, cash flow), and three ways to keep a year's savings in hypothetical figures.
What is reasonable assurance: why an auditor does not guarantee «not a single error», and the key terms of audit
The second lesson of the course: what reasonable assurance is under the international standards on auditing, why an audit does not give an absolute guarantee (three reasons), and eight key audit terms shown on the example of an owner of three shops.
The seven elements of a tax: which questions do you need to answer to understand any tax?
The second lesson of the course: the seven elements of a tax under the Tax Code (object, base, rate, period, and the procedures for calculation, reporting and payment), and the concepts of taxpayer, tax agent and tax benefit, shown on the VAT of one furniture workshop.
Assets, liabilities and equity: how does accounting answer the questions «what do we have» and «where did it come from» on the day a café opens?
The second lesson of the course: the nine most essential accounting terms (asset, liability, equity, liabilities and equity as sources, accounts receivable and accounts payable, balance sheet, account, primary document) shown on the opening day of one café, and why the two sides of the balance sheet always come out equal.