Accounting policy for companies in Kazakhstan

  • Accounting policy (AP) is a document based on which an organization maintains its accounting records. The document encompasses specific principles, fundamentals, provisions, rules, and practices that are adopted for application.
  • Tax accounting policy (TAP) establishes the procedure for maintaining tax accounting and includes methods specific to the activities of a particular entity. The tax accounting policy is effective for the calendar year.

We provide services for the preparation, verification, and updating of accounting policies for companies in Kazakhstan

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What is the purpose of an accounting policy?

An accounting policy allows for the proper organization of accounting records, as there can be multiple ways to record transactions, while standard transactions must be recorded uniformly. Thus, having a correctly formulated accounting policy addresses several tasks simultaneously:

  • Ensures a consistent approach to accounting within the company;
  • Provides confidence in the accuracy of submitted tax and accounting reports;
  • Minimizes the risk of disputes with auditors and regulatory bodies;
  • Simplifies the process of transitioning responsibilities in the accounting department when personnel change.

Consequences of the absence of an accounting policy

In accordance with Article 276 of the Republic of Kazakhstan Code of Administrative Offenses, the absence of accounting documentation at an organization and/or failure to comply with requirements for the preparation and storage of accounting documentation as stipulated by the legislation of the Republic of Kazakhstan, result in a warning, and in case of repeated violations, a fine ranging from 25 to 75 times the Monthly Calculation Index (MCI) depending on the type of business entity.

Our services

  • Creating Accounting Policies "from scratch" for newly established organizations.
  • Reviewing and analyzing the existing Accounting Policies within the organization for compliance with legal requirements and actual accounting practices. Making necessary changes in case of errors.
  • Preparing an up-to-date Accounting Policy for active companies in accordance with the Republic of Kazakhstan Law "On Accounting and Financial Reporting," Rules of Accounting, and International Financial Reporting Standards (46 standards).

The cost of preparing an accounting policy depends on the company’s type of activity, accounting specifics, and the volume of business operations. Contact us for a cost estimation of the service.

Leading positions

Konsu is one of the leading consulting companies in Russia. We have been included in the following ratings of the rating agency Expert RA:

  • Top-10 in accounting outsourcing
  • Top-10 in payroll outsourcing
  • Top-15 in financial consulting
  • Top-15 in legal consulting