CC BY
0
Boykobilova I. assistant
Department of accounting in other sectors
Abdumanonov J.
student
Samarkand Institute of Economics and Service ESTABLISHING ACCOUNTING IN BANKS
Annotation. In the Republic of Uzbekistan, the accounting system and financial policy of banks operating within its territory are regulated in accordance with established procedures.
Keywords: Accounting, accounting system, financial policy, banking operations, accounting and supervision, financial statements, customers, document turnover in banks.
Abstract. In the banking system, the proper organization of accounting operations holds significant importance, as accurate accounting and supervision ensure the bank fulfills its duties correctly. For this purpose, accountants are required to possess specific knowledge, understanding the fundamental principles and methods of accounting and reporting. Establishing the accounting process is essential for ensuring the independent operation of the bank's business systems, efficient functioning of the accounting system, and overall service provision within the banking system. Accounting records play a crucial role in technical support for organizing bank systems, delineating tasks formulated by their leadership, as well as in shaping newly established accounting objects and providing detailed information on societal activities and business efficiency. Hence, there arises a necessity for skilled and experienced accountants and academic researchers to find solutions and support in shaping the detailed information related to the society's activities and business efficiency, contributing to the development of the banking system's technical infrastructure, properly defined tasks by their leadership, and newly established accounting objects.
The challenges of establishing effective accounting systems have been discussed in various scientific works in the Republic of Uzbekistan and other countries. Authors such V.A. Deriy, L.M. Kindratska, G.P. Golybnicha, and others are mentioned in this regard. However, contemporary literary analyses indicate the necessity for a more thorough and comprehensive examination of business relations during the period of establishing the accounting system, demanding increased and in-depth research inquiries.
The purpose of the article is to analyze the organization of information accounting in terms of the compliance of accounting policy in commercial banks and to make recommendations.
Analysis of Literature on the Subject Matter
Mario Draghi, an Italian economist, served as the President of the European Central Bank from 2011 to 2019. During his leadership, his actions to address the crisis in the Eurozone and to stabilize the European banking system are of significant importance. His experience and leadership during this period are considered invaluable, as they have been beneficial for banking systems worldwide. Additionally, his approach aligns with the ideas of Milton Friedman regarding the management of monetary policy, ensuring clear and transparent execution of accounting and financial policies at the regulatory level.
Analysis
While studying the topic, I examined the accounting policy strategy of the 'Xalq' Bank operating in the Republic of Uzbekistan. In this context, it can be seen that the bank's income in the form of dividends from issuing shares is clearly
2016 2017 2018
Action 2019 2020 2021
Types The percentil The percentil The percentil
money with e with money with e with money with e with
origin- origin- origin- origin- origin- origin-
measure measures measure measure measure measure s le s le s le
s s s sa pH £ PH 'S £
13.65 1.37% 13.83 1.38% 4.92 0.49%
Simple shares
Table 1
At the same time, monitoring banking activities from assets and passives that are circulating in its activities from the people's bank's balance sheet creates some relief for each information user and investors: everybody can get access to official web-sites of uzbek banking related to this topic that disclosure.
Based on the accounting entries reported to us, these bank capital is known to have increased by 8% compared to the previous annual report. However, there has been no significant increase in bank loan placements, we can see it in the table below:
Capital banks Deposits of attracted population Bank loan placements
5,647,073 million 2022 8278295.34 mln 2022 21184082.0 million
Grew by 8% compared to November 1, 2021 Increased by 14.5% compared to November 1, 2021 Increased by 2.5% compared to November 1, 2021
Table 2
Conclusions & Suggestions
One of the most effective ways to prevent an employee of a group of banks from dropping tasks in a large load is to benefit from the most advanced and relatively human-factor methods of automation of the accounting system. Bank Accounts: Bank accounts, certificates of deposit, or individual retirement accounts set up as a trust or made to an entity used by Jehovah's Witnesses in your country.
Suggestions:
1 .Effective provision of increase of the Bank's credit placements in the next quarter
2. Automated system and qualified personnel work in maintaining accounting policy
it is necessary to ensure that its activities are carried out in an incompatible
way.
References:
1. "Accounting in Banks" by A. Omonov, T. Qoraliyev, 2014
2. Navruzova K., Allaberganov R. Bukhgalterskiy uchet in bankakh: Uchebnik -T.: "Economics-Finance", 2017. -312 p.
3. www.lex.uz (National Database of Legislation of the Republic of Uzbekistan)
4. www.cbu.uz (Central Bank of the Republic of Uzbekistan website)
5. www.ziyonet.uz - (Zionet ta'lim portal)
6. Official page of the People's Bank (Statistics (xb.uz))
