National Accounting Standards

The legal framework for accounting and financial statements in Albania.

Basic principles for preparing financial statements.

The format and content of the submitted reports.

The simplified standard implemented by economic micro-units.

Recognition and measurement of financial instruments.

Goods, raw materials, and work-in-process: how to measure and report them.

Tangible and intangible assets, depreciation and amortization.

When a provision is recognized and when it is merely explained.

Accounting treatment of capital and operating leases.

When a revenue is recognized and in what amount.

The purchase of a business and consolidated financial statements.

How grants and other forms of assistance are recognized.

Accounting profit versus taxable profit, deferred taxes.

Foreign currency transactions and the exchange rate effect.

Agriculture, livestock farming, and concession agreements.

Participations and joint ventures.

The specific standard for NGOs.