The National Bank of Ukraine (NBU) plans to revise the accounting rules for the hryvnia. The relevant draft resolution has been published for public discussion, reports the Baltimore Chronicle, citing the NBU press service.
The document specifies changes in the classification of banknotes and coins for enterprises conducting cash operations. It proposes dividing cash into notes and coins suitable for circulation and those subject to withdrawal. Previously, such a distinction was not reflected in accounting practices.
The developers of the initiative explain that the changes are needed to harmonize cash accounting with international standards, specifically aligning with International Financial Reporting Standards (IFRS) and recommendations of the International Organization for Standardization (ISO). The updated rules are also expected to unify accounting procedures within the financial sector.
The changes are planned to take effect from January 1, 2026. Meanwhile, the NBU is collecting proposals from market participants and interested parties. All interested can submit their comments until June 5 of this year via the accounting methodology department’s email at the NBU.
Earlier we wrote that US dollar rises amid stronger-than-expected inflation.