Major Changes in Accounting: What Changed in July 2026 - FCHAIN

Major Changes in Accounting: What Changed in July 2026

In July 2026, a comprehensive package of amendments affecting accounting, financial reporting, and charts of accounts came into force in Kazakhstan. The amendments introduced by the National Bank of the Republic of Kazakhstan and the Ministry of Finance of the Republic of Kazakhstan are aimed at digitalizing accounting processes, developing digital financial assets, improving Islamic finance, and updating national accounting standards. The changes affect banks, financial institutions, government entities, accountants, auditors, and other organizations maintaining accounting records in accordance with the legislation of the Republic of Kazakhstan.

 

New Rules for Banking Operations Accounting

One of the most significant changes is the expansion of the Accounting Instruction for second-tier banks. The procedure for accounting for Islamic banking operations has now been regulated separately. Banks holding a universal banking license are required to maintain separate accounting for:

• assets and liabilities;
• income and expenses;
• Islamic financing operations.

This approach ensures transparency in accounting and complies with the requirements of the International Financial Reporting Standards (IFRS). In addition, accounting procedures for commercial financing through trade intermediaries have been regulated in detail for the first time. Separate accounting entries have been established for each stage of such transactions, from receiving goods to the full settlement of obligations.

 

Digital Financial Assets Added to the Chart of Accounts

One of the most important innovations is the development of accounting rules for digital financial assets. The Standard Chart of Accounts now includes new accounting accounts for:

1. digital financial assets backed by cash;
2. digital financial assets backed by other underlying assets, including financial instruments, property rights, goods, and other assets.

The accounting rules have also been significantly expanded for:

1. the digital tenge;
2. electronic money;
3. issuance of digital financial instruments;
4. revaluation of digital assets;
5. income and expenses arising from digital financial instrument transactions.

These changes are part of Kazakhstan’s national strategy for the digital transformation of the financial market.

 

Updated Chart of Accounts for the Financial Sector

The National Bank has also expanded the Standard Chart of Accounts for financial market entities. In particular:

1. new accounts have been introduced for digital financial assets;
2. new accounts have been added for investment assets managed by the National Investment Corporation of the National Bank;
3. accounts for recording investment management income and expenses have been updated.

 

Public Sector Moves Toward Digital Accounting

Several orders issued by the Ministry of Finance focus on the digitalization of accounting in government institutions. Key changes include:

1. updated Accounting Rules;
2. introduction of the concept of a digital accounting information system;
3. clarification of analytical accounting requirements;
4. revised documentation and recordkeeping requirements;
5. updated procedures for accounting for tax and non-tax revenues;
6. revised requirements for recording receivables and payables.

In addition, administrators of budget programs are now required to submit forecast consolidated financial statements exclusively through government digital information systems.

 

Accounting Documentation Forms Updated

The Ministry of Finance has substantially revised the accounting documentation used by government institutions. The updated version includes dozens of revised documents, including:

1. fixed asset accounting forms;
2. investment property documents;
3. biological asset accounting forms;
4. intangible asset documentation;
5. asset acceptance and transfer certificates;
6. asset disposal forms;
7. inventory record cards.

Memorial orders used for recording receivables, payables, and cash movements have also been updated. The purpose of these changes is to align accounting documentation with current budget legislation and modern digital document management requirements.

 

Professional Accountants’ Continuing Education Updated

The amendments also affect the professional accounting community. Mandatory continuing professional education programs will now include additional topics covering:

1. accounting digitalization;
2. modern information systems;
3. legislative changes;
4. digital public services.

The accreditation rules for professional accounting organizations and certification bodies have also been updated.

 

What These Changes Mean for Businesses

These amendments confirm Kazakhstan’s transition toward a digital accounting model. Organizations should promptly:

1. update their accounting policies;
2. ensure their chart of accounts complies with the new requirements;
3. revise internal accounting documentation;
4. update accounting software;
5. ensure proper accounting of digital financial assets, where applicable;
6. provide timely training for accounting personnel on the new legislative requirements.

Failure to implement these changes may result in accounting errors, inaccurate financial reporting, and increased risks during regulatory inspections.

 

Accounting Services by FChain

Accounting legislation is constantly evolving, making it increasingly difficult for businesses to keep track of every regulatory change. The FChain team helps companies operate in full compliance with the legislation of the Republic of Kazakhstan. We offer:

• Comprehensive accounting services for LLPs and IE;
• Accounting and tax bookkeeping;
• Accounting restoration services;
• Preparation and submission of tax and financial reports;
• Payroll calculation and HR administration;
• Support on universal declaration requirements;
• Consulting on tax legislation and accounting changes;

FChain is a reliable partner for businesses of all sizes, allowing companies to focus on growth while entrusting their accounting to experienced professionals.

 

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Prepared by: Moldir Mukhtar

Business Development Specialist

FChain Kazakhstan

 📩 almaty@f-chain.com
📱 WhatsApp: +7 771 214 1820