THE PROBLEMS OF FIXED ASSETS CLASSIFICATION FOR ACCOUNTING

Sophiia Kafka

Abstract


This article provides a critical analysis of research in accounting of fixed assets; the basic issues of fixed assets accounting that have been developed by the Ukrainian scientists during 1999-2016 have been determined. It is established that the problems of non-current assets taxation and their classification are the most noteworthy. In the dissertations the issues of fixed assets classification are of exclusively particular branch nature, so its improvement is important. The purpose of the article is developing science-based classification of fixed assets for accounting purposes since their composition is quite diverse. The classification of fixed assets for accounting purposes have been summarized and developed in Figure 1 according to the results of the research. The accomplished analysis of existing approaches to classification of fixed assets has made it possible to specify its basic types and justify the classification criteria of fixed assets for the main objects of fixed assets.

Key words: non-current assets, fixed assets, accounting, valuation, classification of the fixed assets.

JEL:G M41

 


References


. Zadorozhnii, Z.-M. V. Current Issues of Enterprises Accounting Policy on Non-current Assets. Ternopil: TNEU, 2012. Print.

Zhuk, V. Accounting and Control of Fixed Assets (as Exemplified by State Enterprises of the Culture Sector of Ukraine). Diss. Vadym Hetman National U of Economics in Kyiv, 2006. Print.

Orlova, V. K., and S. V. Senchyshak “Depreciation as a Source of Forming Capital and Fixed Assets.” Scientific Herald of Ivano-Frankivsk National Technical University of Oil and Gas 1 (2012): 73-77. Print.

Palyi, F. Theory of Accounting. 2nd ed. Moscow: Finance and Statistics, 1988. Print.

Pivtorak, M. Accounting of Fixed Assets in the Fish Economy. Diss. NSC “Institute of Agrarian Economy” of UAAS, 2006. Print.

Fursov, A. Improvement of Control System by the Used of Permanent Assets in Conditions of Restructuring (on the Example of Machine-building and Metallurgical Enterprises). Diss. Pryazovsky State Technical Universyty of the Ministry of Education and Science of Ukraine, 2008. Print.

Khoma, S. Accounting and Analysis of Fixed Assets Amortization at the Enterprises of Oil and Gas Extracting Complex. Diss. Ternopil National Economic U, 2008. Print.

Methodical Recommendations on Accounting of Fixed Assets. Order of the Ministry of Finance of Ukraine № 561 from 30 Sept. 2003. Web.

NAS 7 “Fixed Assets”. Order of the Ministry of Finance of Ukraine from 27.04.2000 № 92. Web. < http://zakon5.rada.gov.ua/laws/show/z0288-00> 31 January 2016.

Tax Code of Ukraine. Web. < http://zakon3.rada.gov.ua/laws/show/2755-17. 02.12.2010 № 2755-VI>

Kafka, S. “Economic Essence of Processes Inflows and Outflows of Capital Assets for Accounting Purposes.” Actual Problems of the Regional Economy 11(2015): 127-37. Print.

Needles, B. Accounting Principles. 2nd ed. Moscow: Finance and Statistics, 2000. Print.

NAS 27 “Non-current Assets Held for Sale and Discontinued Operations”. Order of the Ministry of Finance of Ukraine from 19.05.2005 № 419. Web. < http://zakon3.rada.gov.ua/laws/show/z1054-03>.

Moyseieva, O. “Non-current Assets for Sale, or Normal Operating Activities.” Economics 6 (2009): 7. Print.

Blank, I. Financial Management. 2nd Ed. ed. Kiev: Elga, Nika Center, 2004. Print.

Kafka, S. “The Classification of Non-current Assets for Accounting Purposes.” Economic Annals-XXI Research Journal 1-2 (2) (2014): 68-71. Print.


Full Text: PDF
13 :: 2

Refbacks

  • There are currently no refbacks.