In 2026, an organization maintains accounting records using the Standard Chart of Accounts approved by Order No. 185 of the Minister of Finance of the Republic of Kazakhstan dated May 23, 2007, taking into account the version effective in the relevant reporting period.
The Standard Chart of Accounts serves as the regulatory basis for organizing accounting. Based on it, an organization develops its working chart of accounts, taking into account its activities, the applicable accounting standards, and its accounting policies.
It is important to distinguish between the regulatory chart of accounts, the working chart of a particular organization, and analytical accounting, which provides detailed accounting data.
How accounting accounts are regulated in 2026
Several documents and concepts must be taken into account when organizing accounting:
Standard Chart of Accounts — the regulatory basis defining the system of general ledger accounts.
Working chart of accounts — the accounts used by an organization to record business transactions within the applicable requirements.
Accounting policies — the principles, bases, provisions, rules, and practices adopted by an organization for maintaining accounting records and preparing financial statements.
Analytical accounting — detailed accounting data by counterparties, contracts, departments, inventory items, settlement documents, and other objects.
The working chart of accounts is developed taking into account the organization’s activities and the requirements of the applicable standards. It must ensure the correct recording of business transactions, preparation of financial statements, and the ability to control accounting data.
When developing the working chart, it is important to take into account the organization’s category and the accounting standards it applies. It must not be assumed that the same requirements for the level of detail and composition of accounting accounts apply to all organizations.
The head ensures that accounting is organized and approves the accounting policies. Accounting may be performed by an accounting department, an individual accountant, an accounting or audit organization, or a professional accountant under a contract. In cases provided for by law, the head may personally maintain the accounting records.
When allocating duties, responsibility for organizing accounting, performing accounting procedures, preparing reports, and internal control must be clearly separated.
How to correct errors in accounting entries
If an accounting error is identified, its cause must first be established, the affected transactions must be determined, and its impact on accounting registers and financial statements must be assessed.
Under paragraph 12 of the Accounting Rules, correcting and other accounting entries are documented by an accounting memorandum. It discloses the substance of the transaction and the reasons for the correction. The memorandum is signed by the entity’s management and the chief accountant, or by the relevant officials authorized to provide the first and second signatures on banking and financial documents. Supporting documents are attached to the memorandum.
Therefore, an adjustment to an account or journal entry must have a documentary basis. The memorandum must specify which entry is being corrected, why the error occurred, and what correction must be made.
The correction procedure should also be aligned with the nature of the error, the period in which it was identified, and the requirements of the applicable accounting standards.
Main accounting accounts: how to work with them
Accounting accounts make it possible to systematize information about an organization’s assets, liabilities, equity, income, and expenses.
Some accounts are intended for accounting for assets: cash, inventories, property, plant and equipment, and accounts receivable. Others reflect sources of financing and liabilities: equity, loans, settlements with suppliers, and other types of accounts payable. Separate accounts are used to account for income and expenses and determine the financial result.
Under double-entry accounting, a business transaction is recorded as a debit to one account and a credit to another account in the same amount. Corresponding accounts are selected based on the economic substance of the transaction and the requirements of the Standard Chart, the working chart of accounts, and the accounting policies.
Before recording a transaction, an accountant should check:
What the organization actually received, transferred, or undertook to perform.
Whether an asset, liability, income, or expense arose.
Which reporting period the transaction relates to.
Which source documents support it.
Which analytical dimensions are required for accounting and reporting.
Whether the proposed entry complies with the working chart of accounts and the accounting policies.
General ledger accounting shows summarized data for an account, while analytical accounting provides details by individual accounting objects.
For example, the total amount owed by customers is insufficient for full control over settlements. An accountant generally needs to see the debt for each counterparty, contract, and settlement document.
Analytical accounting should be configured with accounting and reporting objectives in mind. Excessive detail complicates data entry and verification, while insufficient detail makes it difficult to break down balances and turnover. Therefore, the necessary analytical dimensions should be determined when developing the working chart of accounts and configuring the accounting system.
Accounting accounts in 1C:Accounting
In 1C:Accounting, accounts are used when posting documents, generating accounting entries, and preparing reports. The location of commands and the available settings depend on the configuration, installed release, and user permissions.
For “1C:Accounting for Kazakhstan,” the current release supporting the legislative requirements of the relevant period must be used. Before updating, the available versions and description of changes should be checked in the official 1C materials.
Before starting accounting in the software, the following must be checked:
whether the chart of accounts complies with the requirements applicable to the organization;
analytical accounting settings;
parameters for automatically generating accounting entries;
whether the records of counterparties, contracts, and other objects have been completed correctly;
whether the entered transactions correspond to the source documents.
Additional account details must comply with accounting requirements and the capabilities of the configuration. Predefined software elements should not be changed arbitrarily, and additional accounts should not be introduced without understanding their impact on document posting, registers, and reporting.
A trial balance is used for regular control. It makes it possible to check opening balances, debit and credit turnover, and closing balances by account.
During the review, attention must be paid to unusual balances, missing mandatory analytical details, duplicate transactions, and discrepancies between accounting registers and source documents.
An automatically generated journal entry does not relieve the accountant of the obligation to verify its economic substance. If a document is entered incorrectly, the error may be reflected in the registers and financial statements. Corrections are made in accordance with the established procedure and with proper documentation.
How balance sheet figures are generated
Accounting account data is not transferred mechanically to the balance sheet according to the “one account — one line item” principle. Before preparing financial statements, the accounting procedures for the period must be completed, entries reviewed, the necessary reconciliations performed, and the accuracy of balances confirmed.
The data is then grouped according to the economic substance of the figures and the requirements of the applicable standard and financial reporting form.
When preparing the balance sheet, the accountant should:
check account balances and their analytical breakdown;
reconcile settlements with counterparties and supporting documents;
determine the reasons for negative and atypical balances;
verify that income and expenses have been allocated to the correct reporting period;
ensure that the balance sheet figures are consistent with other forms of financial statements;
retain breakdowns of material amounts presented in the financial statements.
Balances in asset accounts are used to generate the corresponding asset figures. Equity and liability data is grouped in the relevant sections of the balance sheet. Income and expenses are used to determine the financial result for the period, which is recognized within equity after the necessary accounting procedures have been completed.
When preparing reports, it is important to take into account the rules for presenting figures: some amounts must be shown separately, while others may be combined in accordance with the applicable reporting form. For this purpose, the economic substance of the balances and the requirements of the relevant standard are analyzed.
A working table mapping accounts to reporting figures helps systematize preparation of the balance sheet. It should be reviewed whenever the working chart of accounts, accounting policies, analytical accounting, or the applicable financial reporting form changes.
Frequently asked questions
What is an accounting account in simple terms?
It is a way to separately accumulate and systematize information about similar objects and transactions: cash, inventories, debt, equity, income, or expenses.
How does the Standard Chart of Accounts differ from the working chart?
The Standard Chart of Accounts is approved by a regulatory legal act. An organization develops its working chart on this basis, taking into account its activities, the applicable standards, and accounting requirements.
Must all accounts from the Standard Chart be included in the working chart?
The composition of the working chart is determined taking into account the requirements applicable to the organization and the specific features of its activities. When it is developed, regulatory requirements must be observed and all material business transactions must be properly recorded.
Where can accounts be viewed in 1C:Accounting?
Their location depends on the software configuration and version. The interface of the live database and the documentation for the installed release should be used.
Can the balance sheet be completed using only the trial balance?
The trial balance is an important data source, but before the balance sheet is prepared, the balances must be checked, broken down, and grouped according to the economic substance of the figures and the requirements of the applicable reporting form.
How should an incorrect journal entry be corrected?
The cause of the error must be established, the affected transactions identified, and the correcting entry documented by an accounting memorandum stating the substance of the transaction and the reasons for the correction, with supporting documents attached. The document is signed by authorized persons in accordance with the Accounting Rules.
Sources
Standard Chart of Accounts — Order No. 185 of the Minister of Finance of the Republic of Kazakhstan dated May 23, 2007
Accounting Rules
Law of the Republic of Kazakhstan “On Accounting and Financial Reporting”