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Explanations of accounting, taxes and audit in Uzbekistan. Articles not yet translated are shown in Uzbek.
Company orders and founder's decisions: 9 ready-made samples (bonus, hiring, leave, accounting policy, inventory count, dividends)
How a director's order differs from a sole founder's decision, their structure and 9 complete samples: holiday bonus, hiring, annual leave, accounting policy (with contents based on NAS No. 1), inventory count (NAS No. 19), financial assistance, appointing the director, distributing net profit and increasing the charter capital. Each comes with journal entries under NAS No. 21 and a Word (DOCX) file.
How to keep track of goods and materials received and issued: turnover register, goods report and Excel template
Two registers that an accountant of a trading company keeps month by month: a quantity-and-amount turnover register and a goods report at selling prices. Cost of issues by the weighted average method, how the markup and VAT columns relate, and journal entries from the NAS No. 21 table — with a worked example. An Excel template with formulas and a completed example.
IFRS financial statement forms: financial position, profit or loss, equity and cash flows (Order No. 181, Appendices 5–8)
Appendices 5–8 to the Regulation approved by Order No. 181 in full: the statement of financial position, the statement of profit or loss and other comprehensive income, the statement of changes in equity and the statement of cash flows (indirect method), with line codes. Who submits them and by when, and how the forms connect (a numerical example). Blank forms in PDF and Excel.
From the punched card to the electronic computer: why were insurance companies interested in calculating machines so early?
A life insurance company keeps records of premiums, ages and payments for hundreds of thousands of policies every year. That is why insurers became interested in punched cards as early as the end of the 19th century, and in electronic computers in the 1940s–1950s. The main stages of this path.
Walter Bagehot and "Lombard Street": what should a central bank do during a panic?
In May 1866 a large London financial firm suspended payments and the City fell into panic. Seven years later the journalist and economist Walter Bagehot wrote a book about how a central bank should act at such a time. His rules are still at the centre of debate today.
MONIAC: how was the economy explained with water pipes?
In 1949 in London a student demonstrated the economy with a machine made of water, tanks and pipes. Short key points and an example with a simple calculation about this "water computer", which made the flow of money visible to the eye.
The Galton board: why do randomly falling balls draw a "bell" shape every time?
No one can say where a single ball will land. A thousand of them, however, draw almost the same shape every time. This is about how Francis Galton's board of pins made one of the most important ideas in statistics visible, and how it can be repeated at school today.
Prices on a tape: what did the stock ticker give investors, and how did prices move onto the screen?
Today a share price updates on your phone within seconds. In the 1860s, to find out a price, people sent a runner boy to the exchange. This is about how the "ticker", which printed prices onto a telegraph tape, changed that picture, and how its successor became the electronic quotation system.
Financial statement forms from 2025: balance sheet, financial results, equity and cash flows (Order No. 181)
The complete NAS forms under the Regulation approved by Order No. 181: the balance sheet and its appendix, and the statements of financial results, equity and cash flows, with line codes and account codes. Who submits which forms and by when, and how the lines connect (a numerical example). Blank forms in PDF and Excel.
Does a discount increase revenue? Calculating the price elasticity of demand and checking profit
A coffee shop offered a 15% discount on coffee. We calculate elasticity in two scenarios, show when revenue rises and when it falls, and check why profit may fall even if revenue rises.
Simple or weighted average: how to correctly calculate the average price and the average wage?
Using the average price of apples bought from three orchards and the average wage in a workshop, we show when a simple average gives a wrong result, how a weighted average is calculated and why the median is needed.
Overdraft or an ordinary short-term loan: which is cheaper and how is it recorded in the accounts?
A bakery needs uneven amounts of cash for flour during the month. We compare the interest on a one-month loan and an overdraft by days, record the overdraft on accounts 6810, 9610 and 6920 and show where it sits on the balance sheet.
If insured equipment is destroyed in a fire: how are the write-off and the insurance payout recorded?
A packaging machine burned down, and the insurer paid compensation. Writing off a fixed asset through 9210, taking the carrying amount to loss and recording the payout as income: only with the entries in the NAS No. 21 tables.
How many days does it take working capital to turn back into cash? Calculating the turnover ratio and the turnover period
Using a furniture workshop's annual figures, we calculate the turnover of working capital, inventories, receivables and payables in days and show how much cash is released if the operating cycle shortens by 15 days.
Statistical and non-statistical audit sampling: how is a sample built and how is a misstatement found projected to the whole population?
The auditor looked at 72 of 2 400 invoices and found a 1.8 million soum misstatement. What does this mean for the whole year? Two approaches to sampling, five methods, sampling risk and projecting the misstatement to the population with two different calculations.
What else is withheld from wages besides personal income tax, and which journal entry records each deduction?
The employer withholds personal income tax as a tax agent, but the payslip also has other deductions: the advance, unreturned trip money, contributions to funds at the employee's expense, goods bought on credit, material damage, products sold to the employee, a court document. For each, the line in NAS No. 21 and one complete payslip example.
The advance report after a business trip: what journal entries are made if the money ran short, was left over or was not returned?
Giving money for a trip, getting a report after return, paying the employee extra or recovering the balance: three different situations of three employees on accounts 4220 and 6970, with journal entries tied to the lines of the NAS No. 21 tables.
Customs transit (code 80): what conditions, obligations and documents are required when goods pass through Uzbekistan?
Transit cargo passes without duties and taxes, but in return the carrier answers for the seal, the time limit and the route. Articles 116–120, 218–225 and 257¹ of the Customs Code in 8 points and one trip example.
Export procedure (code 10): how are the revenue from goods shipped to a foreign buyer and the foreign-currency receivable recorded in the accounts?
The goods have crossed the border, but the dollars have not arrived yet. On which day and at which rate is revenue recorded, why is the receivable remeasured at month-end, and where does the exchange difference go when the money arrives: a full calculation using the example of a company exporting towels.
Sample cargo customs declaration: how to read the boxes of an import declaration?
A sample cargo customs declaration (form TD 1) filled in with fictional data: what goes in each box, which classifier the codes come from, and how the customs payments in box 47 are calculated. The blank form and the sample can be downloaded as PDF.
Who created the profession: the first independent accountant-auditors of the 19th century
Laws began to demand audits, but who would do the work? A teenager who came out of a bankruptcy office, accountants who examined the accounts of railway companies, and the people who led the first professional societies. Short points about the 19th-century figures who became the face of the audit profession.
From a one-cylinder car to the compulsory policy: how did motor insurance come about?
When the automobile first appeared on the streets, a question arose: who pays the pedestrian it hits? About one of the first motor insurance policies, the first compulsory insurance laws in the USA and Britain, and who protects the victim if the driver is uninsured.
From the paper "spreadsheet" to Excel: how did the electronic spreadsheet change the accountant's work?
The word "spreadsheet" came from the accounting ledger: a paper sheet ruled into columns and rows moved onto the screen and began to calculate by itself. A Harvard student's idea, the rivalry between Lotus and Excel, famous formula errors and spreadsheets in the cloud.
From a forgotten wallet to contactless payment: how did the plastic card come about?
A businessman who left his wallet behind at a restaurant, a single town in California, an ID badge for the CIA and a chip that appeared in France. The stages the bank card in our pocket went through, and the problem each stage solved.
The gold standard: how was paper money tied to gold for 150 years?
There was a time when you could take a banknote to the bank and ask for gold in exchange. This arrangement was firmly established in Britain in 1821, spread around the world at the end of the 19th century, was eroded during the two world wars and the Great Depression, and came to a complete end in 1971.
Import (40), temporary admission (42) or customs warehouse (74): how to choose the procedure?
Under all three procedures the goods are in the country, but payments, time limits and what may be done with the goods are completely different. A comparison based on Chapters 9, 11 and 14 of the Customs Code and a calculation for the temporary admission of equipment.
Key concepts of the Customs Code in 8 points: from declarant to customs value
To speak the same language as the broker, an accountant needs the legal meaning of the terms. Eight points, each definition with its article number, a conclusion for accounting and the path of one import from start to finish.
An advance was paid to a foreign supplier in foreign currency and the goods arrived later: at which rate are they recorded?
An import batch paid half in advance and half afterwards is recorded at three rates. Under NAS No. 22 the advance part is not remeasured, while the remaining debt is remeasured every month. Step-by-step journal entries using the example of a textile mill.
How is the cost of imported goods built up: contract, freight, duty and exchange difference
The invoice says 20 000 dollars, but the goods entered the warehouse at more than 303 mln soum. Which costs are added to cost and which are not, and why customs value and accounting cost differ: calculation and journal entries using the example of a household appliance shop.
37 customs payment codes: which go into the cost of goods and which become an expense?
The payments section of the CCD contains codes such as 10, 20, 29 and 72. Duty and fees are added to the cost of the goods, while late payment interest and fines go to other expenses. The full table of Annex 13 with each code's place in the accounts and a calculation for one batch.