Chamber of Accounts sees 23% decline in loss

Chamber of Accounts ended 2019 at AZN 118,000 in loss, down 22.8% from the previous year, Report informs.

The revenues rose 54.1% to AZN 5,629,000, all of which came from over-the-counter transactions. In the reporting period, the expenditures amounted to 5,747,000, up 51% from the previous year. The cost of the materials used by the Chamber of Accounts increased by 16.1% to AZN 97,000, expenses for salary, and employees surged 62.2% to AZN 4,954,000, amortization expenses soared 9% to AZN 217,000, other operating expenditures advanced 2.2% to AZN 479,000.

As of January 1, 2020, the assets stood at AZN 5,659,000, down 3.1% from a year earlier. Liabilities fell 75.6% to AZN 21,000, net worth slipped 2.1% to AZN 5,638,000.