Мы торжественно отмечаем 550-летие образования

Rysty ALIBEKOVA
conversed

қараша | ноябрь | november № 11 (23)
169
COMPETITION
LET THE STRONGEST WIN!
The republican competition «The Best Accountant» organized by the “Financial Academy” JSC of the RK 
Ministry of Finance with support of «1C Kazakhstan» gains steam. Hundreds of candidates for the first place 
prize compete with each other by their knowledge and skills in the tricks of the profession. Some participants of 
the intellectual competition have already passed the first elimination round. We decided to get acquainted with 
them closer and asked the following questions:
1. Why did you choose the accountant profession?
2. What attracts you in this profession?
3. What do you undertake in order to increase your professional level?
4. What do you expect from «The Best Accountant» republican competition?
So, here are our participants:
Amri Dinara Tolegenovna, the chief accountant of the “SK Development” 
LLP, the general length of service as an accountant is 14 years
1. 
I graduated from school in 
1993. 
  Honestly speaking, when 
I was younger, in the nineties, I 
dreamed to become «the most 
demanded» actress, singer, writer 
etc. as any other teenage girl from 
the former Soviet Union. But the real 
life makes its own allowances. At that 
time money depreciated dreadfully 
fast, a salary had been detained 
for months. At that moment we 
had a chance to get education 
with the government support in 
the local polytechnic college in 
the «Accounting in construction» 
specialty. But that was the last year 
when we could study with the 
financial aid. Of course, my parents 
decided me to study there without 
pausing to think and today I am 
very grateful to them for it because 
if handled properly the accountant 
profession can mean stability, 
reliability, fair wage, professional 
growth possibility. 
2. 
I remember my mother’s 
friend, who had worked many years 
as an accountant, told me: «Our 
profession is the best one. Whatever 
happens an accountant will always 
have work, everything depends 
only on you! Study, develop, and 
you will manage everything!» Now I 
would add: accounting is immortal! 
These words always support me, 
encourage optimism and belief in 
the future. In my profession I also 
like the fact that it always keeps me 
up: continuous changes in the tax 
law and in financial accounts do not 
allow to get stuck in routine. It means 
that there is always an opportunity 
to get new knowledge and to find 
new acquaintances. At the present 
time when accounting must be 
kept everywhere according to the 
international standards our specialty 
is important as never before. Having 
good knowledge of IFRS it is only 
necessary to learn a foreign language 
and taxation system of other 
countries you as an expert have a lot 
of opportunities.
3. 
During the years of work 
I understood: it is impossible to sit 
still, it is necessary to know all fields, 
not to be afraid of difficulties and 
to develop constantly: to attend 
training courses, to participate in 
seminars, to use any opportunity 
to gain additional qualification 
because there are a lot of them 
in the accounting sphere. Today 
many experienced employers, 
who understand how necessary 
experts professional development 
is, are ready to finance accountants` 
training and certification. In my 
opinion, only a lazy person can miss 
this chance.
4. 
Honestly to say, it was the 
financial aspect of competition 
which attracted me first of all. But 
that is not the only reason for my 
participation. I wish to prove to 
myself that I know, consequently, 
I can apply all gained knowledge. 
And besides, it is interesting to meet 
new people. On 13th November 
this year I and my colleagues from 
Almaty, Temirtau and other cities 
were kindly invited to a concert in 
the RK Ministry of Finance. There I 
got acquainted with nice people and 
listened to wonderful music what I 
am heartily grateful to organizers of 
competition for. I expect the same 
positive emotions in the future. And, 
of course, I hope for a victory!

қараша | ноябрь | november № 11 (23)
170
COMPETITION
Bordunova Anna Valeryevna, the consultant for accounting and 
taxation management (expert accountant) of the BEM Consulting Group, 
the general length of service as an accountant is 12 years, 8 of which she 
worked as the chief accountant in large holding.
1. 
From school always I 
preferred professions which are 
connected with mathematical 
calculations and demand assiduity 
and attentiveness. Therefore while 
choosing a specialty I stopped at 
once on the accountant’s profession.
2. 
I was always attracted by 
the fact that this profession is one 
of few ones which demands annual 
improvement and acquisition of 
knowledge. I very my profession 
very much and last year I made the 
decision that I am ready to impart 
experience and knowledge with 
everyone who needs it and who 
looks for perfection in the specialty. 
At the present moment I generally 
work with chief accountants who 
need the help and support in 
setting up the account as, having 
worked for a long period of time 
in the large joint-stock company, 
I have been maintaining book-
keeping in all spheres and branches 
of business and have encountered 
a number of questions which were 
often submitted for discussion by 
the professional organizations and 
Chambers.
3. 
I annually make better 
occupational awareness training. For 
the moment I have the Certificate of 
SAR (according to the CIPA program), 
the Certificate of the Professional 
accountant of the Republic of 
Kazakhstan, the Certificate of the 
Professional Accountant of the 
Russian Federation, ASSA DipIFR 
Diplom. In 2015 I plan to pass the 
examination for obtaining the 
Diploma of ISFM for the professional 
certified financial manager (London) 
and in 2016 - to pass the examination 
for «Auditor of the Republic of 
Kazakhstan» qualification. I also 
intent to continue training according 
to the ASSA program.
4. 
Firstly, the competition 
inspires me not to be satisfied with 
what has already been achieved and 
to improve in the field of accounting 
and audit. Secondly, I believe that 
the main motivation is not only the 
a goodly amount of prize money 
but also obtaining the status of the 
consultant in the field of accounting 
and audit at the Ministry of Finance 
as it imposes responsibility to be 
the professional of high level. I 
have never participated in such a 
competition but I hope that the 
competition winner will be the best 
participant.
Vertuntsova Svetlana Nikolayevna, the chief accountant of limited 
liability partnership.
1. 
Taking into consideration 
the conditions of our developing 
economy, I believe that an 
accountant must be an educated 
and  
knowledgeable 
expert 
whether it is the tax law or economy 
of the enterprise. My choice of 
profession is also determined 
by the need of constant self-
improvement and self-education.
2. 
Having the higher 
mathematical education, I 
began my work experience as an 
accountant at courses in 2000. 
3. 
In 2006 I received the 
certificate of SAR as an expert 
accountant, and in 2008 - an 
honors degree of the Karaganda 
state university in «The account 
and audit» specialty.
In 2013 I received the national 
certificate of the professional 
accountant.
4. 
The competition organized 
by the Financial Academy and 
the Ministry of Finance is the one 
more proof that the country needs 
professionals and those ones who 
want to become these professionals 
have all possibilities to train and 
develop their professional skills. 
5. 
Such competitions uplift 
competitiveness and make think 
over what is necessary to become 
a participant or even a winner 
and show the importance of each 
person`s work.

қараша | ноябрь | november № 11 (23)
171
COMPETITION
Kozak Elena Anatolyevna, the chief accountant of 
Akmolaenergomontazh LLP, length of service is 16 years.
1. 
Having finished school I 
got the higher economic education 
and began to work as an economist. 
Once I was suggested to relieve 
an accounting assistant for some 
time. This work really captivated 
me; I made some additional training 
and became an accountant. The 
accountant’s profession is extremely 
difficult, it demands attentiveness, 
concentration, ability to analyze 
various situations and to make 
decisions. It also demand continuous 
and regular training as everything 
changes very quickly and you are 
never bored for lack of an occupation.
2. 
Firstly, it is a demand for this 
specialty in the modern world which 
can bring in the stable income. 
Secondly, this profession helps 
person to develop. It develops 
logical thinking, attention, improves 
self-discipline, self-confidence and 
constantly demands training and 
professional development. 
Thirdly, there are tops in this 
profession which can be reached 
by many people. The profession 
extremely universal: you can work 
as an accountant, an economist, 
a consultant, a financial analyst, a 
finance director and an auditor.
Fourthly, an accountant must have 
versatile skills and knowledge in 
the field of the civil, administrative, 
labor and other laws. Sometimes an 
accountant has to be at the same time 
both a personnel officer and a lawyer.
3. 
I regularly attend various 
courses, trainings and training 
programs in order to increase my 
professional level. For the moment 
I am the member of the Association 
of professional accountants 
and auditors of the Republic of 
Kazakhstan. I also have a certificate 
of CAP, the qualification certificate of 
the professional accountant awarded 
by the institute of professional 
accountants and auditors of Russia. 
Besides in the course of professional 
development I trained in the National 
Research University «Higher School of 
Economics» in Moscow.
4. 
I was prompted to take 
part in the competition by desire to 
check myself, my knowledge and my 
skills. The things I expect from the 
competition are interesting questions, 
transparent and honest refereeing. 
May the best representative of our 
profession be awarded by «The Best 
as an Accountant» title!
Logvinenko Yulia Aleksandrovna, the chief accountant of the “Stroitel” 
LLP, length of service is about 10 years.
1.  The accountant’s profession 
is my second one – having finished 
school I gained in 1988 the diploma as 
«a mining engineer – a hydrogeologist» 
in the Tomsk polytechnic institute, 
but during the policy reorganization 
in the 90th I had no work – therefore 
I changed a specialty since it was 
demanded at that time – in 2002 I got  
extramural education at the Tomsk 
state university in «accounting and 
audit» specialty.
2. The profession attracts me since 
it is demanded and interesting.
3. The period when I became an 
accountant was exactly the account 
formation period in our republic –
probably, nobody now remembers 
how many changes were implemented, 
but it was very difficult and as it turned 
out - very interesting as well.  
Chart of accounts for bookkeeping,  
tax calculation were changed, the 
electronic form of reports in the Tax 
Code and international standards were 
adopted at that time. The profession 
stopped being static, it was necessary 
to master something new all the time, 
and besides, the automation of the 
account process reduced need of 
tiresome recounting.
4. I watch the changes in the 
legislation concerning taxes and 
accounting, while solving specific 
objectives I read materials in magazines 
and in the Internet (there are all 
possibilities for this purpose at our 
enterprise: the subscription to printing 
editions and to an account portal), I 
discuss professional problems with my 
colleagues. If I have an opportunity I 
participate in seminars. The CEO of our 
enterprise always welcomes it.
5. If I am not mistaken, it is the 
first experience of such a public 
competition organized by the RK MF. 
The fact that the first two rounds are 
hold in the Internet makes it possible 
for all accountants to participate in it.
I hope that the competition will be 
interesting, will become traditional, 
and the victory in it will be prestigious 
for an accountant. It consequently will 
become incentive for increase of the 
professional level and the importance 
of the accountant profession in the 
Republic of Kazakhstan.

қараша | ноябрь | november № 11 (23)
172
COMPETITION
Serikbayeva Rabiyam Nurakhunovna, the chief accountant of the 
“USTAM” LLP, the general length of service is 10 years.
1. 
I am an accountant in the 
second generation and treaded 
in the steps of my mother - the 
chief accountant with huge work 
experience. I always watched my 
mother to calculate some figures, 
write down them in some tables, 
books, then make some reports and 
bare them in the tax office. I liked 
those forms very much and always 
wanted to try to make a report 
myself. Therefore I already had a 
general idea about the profession 
and duties of an accountant and 
chose this profession without any 
doubts.
2. 
In accounts department I 
like orderliness of actions, accurate 
algorithm and sense of work. I 
like understanding of that we, 
accountants, processing a huge flow 
of information on each transaction 
of firm, turn all this mess into the 
structured report on couple of pages. 
On the basis of these reports owners 
and managers make decisions 
on further activity, government 
bodies conduct checks, banks make 
decisions on crediting. The huge 
number of serious decisions is made 
on the basis of the reports made in 
accounts department. An accountant 
must increase knowledge and skills 
literally every month in order to make 
each report reflect the real situation 
and not contain mistakes. It always 
keeps you up because it is constantly 
necessary to move forward, read, 
study, analyze. «Live and learn» - this 
proverb perfectly suits accountants. 
And, of course, figures, figures and 
figures. An accountant will not be 
able to work for a long time if he does 
not love figures.
3. 
I received the certificate of 
the Professional accountant. And 
being the owner of the certificate I 
annually attend   q u a l i f i c a t i o n 
upgrading courses. In addition, I 
study other related subjects - finance, 
financial management, economy, law.
4. 
I expect good emotions 
and check of my own knowledge 
from the competition. A prize and 
victory are not the most important. 
This competition is an opportunity 
to reveal the weaknesses and to 
strengthen the knowledge.

қараша | ноябрь | november № 11 (23)
173
SCIENCE
In the Republic of Kazakhstan intensive development of 
economy is continuing, and as a result, there is a need of 
revision of earlier existing regulations and development of 
legislative base. One of such systems which are in process 
of reforming is the accounting registration system of the 
Republic of Kazakhstan. Thus, the reform affected not only 
methodological bases, but also organizational structure of 
this system participants.
It is considered that the IFRS are the most developed 
and advanced accounting standards in the world [1]. 
Further development of system of accounting and 
financial reports needs to be carried out for improvement 
of quality, transparency and comparability of information 
formed in accounting and financial reports according to the 
IFRS in the following main directions:
- preparation and retraining of the experts occupied 
with the organization and maintenance of accounting 
reports, audit of financial reports;
- simplification of accounting reports maintenance 
order and drawing up of financial reports for small and 
medium business subjects;
- change of accounting and financial reports regulation 
system on the basis of international experience;
- participation in the international development of 
accounting and audit.
All users of reports have certain expectations regarding 
content of the information in financial reports. For effective 
implementation of tasks peculiar to accounting reports,  
financial reports should meet such requirements as 
professionalism, transparency, independence, relevance, 
commonality, and also should correspond to the principles 
and main qualitative characteristics of accounting and 
financial reports [2].
World experience shows that such qualitative 
characteristics as clearness, relevance, reliability, 
comparability defining usefulness of information are 
reached by direct use of the international standards or 
their application as a basis for creation of national system 
of accounting and financial reports. The economic 
prospect of IFRS and ISA application consists in more 
effective distribution of the capital, wider choice of 
capital investments and growth of their profitability, the 
entry into the world market becomes simpler, there is a 
possibility of decrease in costs of the capital formation. 
That in a consequence will lead to development of new 
business structures, emergence of new workplaces, 
decrease in unemployment, increase of competitiveness 
of the Kazakhstan organizations in international markets, 
economic growth of the country in general.
Subjects of small and medium business are the most 
active part of the market. Whether you will sell something 
or grant a lease, render services, produce or cultivate 
something – it doesn’t matter. The main thing is to find 
demand of a client which is insufficiently satisfied, and to 
offer the consumer options in the form of your goods or 
services. 
Questions of formation and submission of financial 
reports are mentioned in almost all international standards 
[3] existing now in a varying degree.  
Financial reports are structured submission of 
information on a financial position, results of activity and 
cash flow of an organization which will be useful for a wide 
range of users at adoption of economic decisions. Besides, 
financial reports show results of the administration activity 
on the direction of the organization resources .
Along with information provided in notes, the specified 
data help users of financial reports to predict cash flow of 
the organization, to determine terms of emergence and 
degree of definiteness of cash flows.
Aigul ISKAKOVA, 
undergraduate of “Financial Academy” JSC, 
Astana
SUBMISSION OF FINANCIAL REPORTS BY 
SUBJECTS OF SMALL BUSINESS ACCORDING TO THE IFRS

қараша | ноябрь | november № 11 (23)
174
SCIENCE
The financial reports provide information on the 
following indicators of the organization:
- assets;
- expenditures;
- own capital;
- income and expenses, including other income and 
expenses;
- cash flow.
Financial reports of the organization should represent 
impartially and authentically financial position of 
the organization, results of activity, cash flow of the 
organization. Reliable submission of financial reports 
demands:
- exact representation of influence of operations, other 
events and conditions according to definitions and criteria 
of estimates in line with the IFRS;
- submission of information, including accounting 
policies, providing relevance, reliability, comparability and 
clearness of information;
- representation of additional disclosures when 
requirements of the IFRS are insufficient for definition of 
influence of concrete operations or events on the financial 
position and financial results of the organization activity.
Reliability of financial reports is reached in case 
the report is made in accordance with all international 
standards. Clear and accurate compliance of the IFRS 
should be reflected in notes. Thus compliance of the IFRS 
means that the report meets all requirements of each 
standard and the applied interpretations of Standing 
committee for interpretations.
Financial reports are prepared on the basis of the 
principle of a continuity of activity if only the management 
does not intend to liquidate the organization or to stop 
activity, or it has no other real alternative, besides, how to 
do it.
In financial reports any serious doubts about possibility 
of the organization to adhere to the principle of a continuity 
are revealed. If the organization does not adhere to the 
principle of a continuity, in financial reports are revealed 
the discrepancy to the principle of a continuity, the basis 
on which financial report is made and the reason why the 
organization is not considered as continuously acting.
While preparing financial reports the management 
should estimate possibility of the organization to continue 
the activity, at least, within twelve months, subsequent to 
the reporting period.
In notes to financial reports are revealed the main 
assumptions of future and other sources of inauthenticity 
assessment which could cause essential adjustments of 
balance cost of assets and obligations with the description 
of character of assets and expenditures, balance cost for 
date of drawing up financial reports and other relevant 
information [4].
Determination of balance cost of some assets (and 
expenditures) assumes performance of an assessment for 
date of balance of influence of uncertain future events on 
the specified assets (and expenditures). For example, legal 
proceedings were brought up against the organization 
and it lost action in the court. At the time of the approval 
of financial reports the sum of cumulative expenses was not 
finally determined by the claim. In this case, it is necessary 
to carry out a preliminary estimate of expenses and to 
create the estimated expenditure on their covering.
In notes to financial reports are also reflected settlement 
estimates which can be demanded, for example, when 
determining:
- compensated size according to classes of fixed assets;
- influences of stocks depreciation;
- estimated expenditures on covering of expenses by 
the results of the trial;
- long-term expenditures under pension plans.
Assumptions about cash flows (or the used discount 
Gulnar AMANOVA,
Cand.Econ.Sci., associate professor of «Account 
and audit», “Financial Academy” JSC, Astana

қараша | ноябрь | november № 11 (23)
175
SCIENCE
rate) correction risk, about future changes of compensation 
level, and also about future price fluctuations which 
will affect the size of other expenses are considered in 
calculation of estimates.
Disclosure of such information is not required for the 
assets (or expenditures) which are characterized by risk 
of essential change of their balance cost within the next 
financial year if for date of balance they were estimated at 
the fair value based on the final market prices.
Necessary information is subject to disclosure so that to 
help users to understand logic of professional judgments 
of the management about future events and about other 
bases for an assessment in the conditions of uncertainty.
Character and extent of specification of the provided 
information depend on the character of assumptions and 
on other circumstances. For example:
- character of an assumption or other characteristic of 
uncertainty of an assessment;
- degree of dependence of balance cost on the applied 
methods, assumptions and estimates which are the 
cornerstone of it calculations, which includes the reason of 
such dependence;
- estimated permission of uncertainty and a range of its 
really possible consequences within the next financial year 
which can affect the balance cost of the corresponding 
assets (and expenditures);
- explanation of changes of earlier accepted 
assumptions concerning assets and expenditures, 
uncertainty of an assessment of which remains.
Disclosure of information does ot assume data 
presentation of planned or expected character.