The Cabinet of Ministers introduced on 21 October next change in the decision of 27 May 2010 for №97 «On the provision and publication of the annual financial statements and combined (consolidated) financial statements of commercial enterprises." It is about annual financial reports of companies.
Annual financial statements of commercial organizations are made up of five parts. Three of them have changed.
The report "Balance" is changed to the statement of financial position. The "profit and loss" will be recorded as data on other comprehensive income. And the "Report of the accounting policies and explanatory notes" will reflect the significant accounting policies.
It should be emphasized that not all companies in Azerbaijan meet the requirements of this decision of the Cabinet of Ministers. According to this document, the company must submit financial reports to the founders not later than April 30, and the consolidated statements – June 30. Later, these reports shall be published in the press and the corporate websites of these companies. ----08D
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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