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Accounting and accounting rules in Armenia

Accounting Rules

Tax Year
The tax year is the calendar year.
Accounting Standards
The Accounting Standards of the Republic of Armenia which have been adopted by the Ministry of Finance and Economy are based on IAS (International Accounting Standards). Activities on standardization and conformity assessment are performed according to the law on Standardization adopted by the Parliament in 1999, amended in 2004 and "On Conformity Assessment" adopted by the Parliament in 2004.
In accordance with the Law, the national standards are voluntary, but a part of them contains mandatory requirements.
Accounting Regulation Bodies
Government of the Republic of Armenia
Central Bank of the Republic of Armenia
Accounting Reports
The presentation and preparation of financial statements should be performed in accordance with the Law on Accounting. The full package of financial statements includes:
- the balance sheet;
- the income statement;
- a statement of changes in equity;
- a cash flow statement;
- notes to financial statements.
Publication Requirements
All organizations with minor exceptions are required to submit their annual financial statements to the tax inspectorate.
Professional Accountancy Bodies
AAA , Association of Accountants and Auditors
Certification and Auditing
For Joint-Stock companies, banks and insurance companies, the annual financial statements have to be audited by an independent auditor. For other companies, this step is not required.
, Ernst & Young, PricewaterhouseCoopers, Grant Thornton Amyot.
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Latest Update: April 2024