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Explanations of accounting, taxes and audit in Uzbekistan. Articles not yet translated are shown in Uzbek.
Why does the word audit come from "hearing"? 6 facts about ancient checks
Today an auditor examines documents and figures. But the word itself means "listening". There is a reason for this: originally accounts were read aloud and checked by listening.
Financial history: how did paper money appear in China?
Merchants tired of carrying heavy iron coins switched to paper. The history of the jiaozi and the first lessons in inflation it left behind, in key points.
Financial history: from barter to coins, what did the Lydian coin change?
What if in every deal the metal had to be weighed and checked? The stamped coin cut this work down to a moment. About the first coins and the main functions of money.
Banking history: from the ATM to the mobile app
The first ATM worked with a paper voucher and gave out no more than 10 pounds. Today the bank is inside the phone. We trace the short road of digital banking in key points.
Digital tax administration: how did the e-invoice and "Tax Administration 3.0" come about?
From the paper tax return to the e-invoice checked in real time. The newest stage in the history of taxation, Italy's experience and the OECD concept in short key points.
From the abacus to artificial intelligence: what did accountants calculate with, and why did the abacus fall out of use?
Until quite recently the click of abacus beads could be heard in shops and offices. How did the arithmometer, the calculator, the first business computer and the spreadsheet come about? And why do we so rarely see an abacus today?
Banking history: how did central banks and commercial banks become separate?
Why does every country have one central bank and many commercial banks? Let us see in short key points how the crises of the early 20th century shaped this structure.
Banking history: what did the Bank of Amsterdam (1609) and the Bank of England (1694) change?
Coins were a jumble, and the state was sunk in debt. How did two banks founded in the 17th century solve these problems and pave the way for the idea of a central bank?
Banking history: how did the Medici Bank and the bill of exchange work?
In medieval Italy a merchant could transfer money to another city without a bag of gold. Using the Medici Bank as an example, we look at the bill of exchange and the network of branches in short key points.
The 20th century: how did accounting become an international language?
What does it take for an investor in Tokyo or London to understand the financial statements of a company in Tashkent? A short road map of the international standards that emerged in the 20th century and of the national NAS system.
How was VAT invented: from France's 1954 reform to more than 170 countries
Value added tax, which today applies almost all over the world, appeared in France a little over seventy years ago. Its history in short key points and one calculation example.
Banking history: why did the first "bank" appear in a temple?
In an age without bank buildings, cash desks or contracts, where did people store their grain and whom did they borrow from? Let us get to know the temples of ancient Mesopotamia.
How did income tax come about: the "temporary" tax of 1799
A tax introduced "for a while" to cover the cost of war has survived for more than two centuries. Why William Pitt's income tax was needed and how it differs from today's income tax.
1494: how did Luca Pacioli's book spread double-entry bookkeeping?
Pacioli did not invent double-entry bookkeeping, and he said so himself. Why, then, is he often called the "father of accounting"? The answer lies in one printed book.
Taxation in the Middle Ages: what did the Domesday Book and Magna Carta change?
A book that recorded the whole kingdom and a charter that limited the king's right to levy taxes. Short key points on the mark these two documents of medieval England left on the history of taxation.
From al-Khwarizmi to the Genoa ledger: how did accounting change in the Middle Ages?
Today's accounting rests on two things: convenient numerals and double-entry bookkeeping. Both took shape in the Middle Ages. Along this path there is also a scholar linked with the name of Khwarazm.
Is accounting older than writing? The story of clay tokens in Mesopotamia
Did people first learn to write or to keep accounts? According to a widely known theory, writing itself was born of the need to count grain and livestock. We trace the path from clay tokens to today's electronic documents.
How were taxes collected in the ancient world: from Egyptian priests to Roman legionaries
The state treasury was kept full even in an era before coins. Using the tax relief on the Rosetta Stone and Augustus's inheritance tax as examples, we compare the ancient tax system with today's.
How do you correct a wrong journal entry: red storno, reversing entry or additional entry?
The amount was wrong, the account was wrong, or too little was recorded: each error has its own correction method. Using a plastic containers workshop as an example, we look at all three methods with their journal entries.
What journal entries are made when founders contribute to the charter capital?
A new LLC has been set up: one founder brought money, the other brought a computer. In which accounts and in what order is the charter capital recorded? Short key points and one example.
Who benefits from the simplified 6% VAT regime? A calculation for two businesses
6% is less than 12%, but input VAT on purchases is not credited. Using a café and an electronics shop as examples, we work out which regime is cheaper and calculate the "break-even point".
What is a negative VAT difference and how is it refunded?
If input VAT on purchases exceeds VAT on sales, the budget ends up owing you. How a negative difference arises, the 10 million soum rule in PF-100, and the journal entries.
Which balances should the accountant check before the auditor arrives?
If you find the error the auditor would find before they do, both the opinion and your nerves will be in better shape. Seven places to review at year end and one difference that was found.
How is net working capital calculated and what does it show?
There is profit on the balance sheet, yet there is no money to pay the supplier. The reason often lies in net working capital. We calculate it from a furniture company's balance sheet.
Profit but no cash: why does this happen?
The report shows a 60 million profit, yet there is almost nothing in the bank. We unpack the gap between profit and cash flow step by step using the indirect method from NAS No. 9.
How is property insurance recorded in the accounts: from the annual premium to the insurance payout
The insurance premium was paid a year in advance, then materials in the warehouse were flooded. Using a metal structures workshop as an example, all the journal entries with accounts 3190, 6510, 5910 and 9390.
If spare cash is placed on a bank deposit, how is it recorded in the accounts?
Money sitting idle in the settlement account was placed on deposit. Which account does it sit in now, and when does interest become income? Accounts 5890, 4830 and 9530, using a carpet factory as an example.
Horizontal and vertical analysis of the balance sheet: how can you see the change behind the figures?
Putting two years of balance sheets side by side is not enough: you need to calculate growth rates and shares. Two simple statistical methods, using a bakery as an example.
What journal entries are made when a customer pays in advance?
The money has arrived, but the product has not been delivered yet. Is it income or a liability? Using a sewing workshop as an example, we look at how account 6310 works.
How are a short-term bank loan and its interest recorded?
The loan itself is not an expense, but the interest is. Four basic journal entries with accounts 6810, 6920 and 9610, using a dairy plant as an example.