Published
10/17/2024, 14:47The Ministry of Finance will introduce an automated information system ‘Centralised Accounting’ based on the Unified Chart of Accounts (UCA) from 1 January 2024.
The Unified Chart of Accounts will be the key tool for accounting and reporting in budgetary institutions. It is fully integrated with the Budget Classification of the Kyrgyz Republic and is aimed at increasing transparency and accountability in accounting processes.
The new system introduction will improve the efficiency of budget funds management by optimising accounting and reporting processes. Also, the system will simplify control over financial flows and reduce the time for processing financial information, ensuring the unity of accounting in the budgetary sphere. This, in turn, contributes to improving the quality of financial reporting.
The system will also improve interaction between budget institutions and controlling bodies, creating conditions for a more transparent budget process. For the successful implementation of the system, the Ministry has developed training videos that explain the concept of the Unified Chart of Accounts and show how to use the new system. In addition, special training events are organised for the staff of budget institutions to enable them to adapt to the new software.
