Discussion issues of accounting and disclosure of non-current assets in statements in the conditions of martial law in Ukraine

Lokhanova Nataliia
Doctor of Economics, Professor, Head of the Department of Accounting, Analysis and Audit, Odesa National Economic University, Odesa, Ukraine, E-mail:profnat08@gmail.com, ORCID ID: https://orcid.org/0000-0003-3888-1299

Syrotenko Nataliia
PhD of Economics, Associate professor of the Department of Accounting, Analysis and Audit, Odesa National University of Economics, Odesa, Ukraine, E-mail:nsirotenko@ukr.net, ORCID ID: https://orcid.org/0000-0002-4572-6505

Cite this article:

Lokhanova N., Syrotenko N. (2024) Discussion issues of accounting and disclosure of non-current assets in statements in the conditions of martial law in Ukraine. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Dyskusiini pytannia obliku y rozkryttia u zvitnosti neoborotnykh aktyviv v umovakh voiennoho stanu v Ukraini; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odesa National Economic University (ISSN 2313-4569), Odesa National Economics University, Odesa, No. 5-6 (318-319), pp. 7-15.

Abstract

The purpose of the study is to provide a critical review of the controversial issues of accounting and disclosure of noncurrent assets in martial law reporting and to propose recommendations for their resolution. To achieve this goal, the authors used a systematic approach, methods of analysis, synthesis. Based on the study, the author identifies five blocks of controversial issues related to accounting and disclosure of non-current assets of domestic enterprises under martial law and proves that theoretical and practical research should be aimed at eliminating existing controversial issues and providing various user groups with timely and high-quality information on non-current assets. The scientific novelty lies in the recommendations for domestic enterprises on the use of the form of the Act for determining losses from impairment of non-current assets, as well as the main directions for building such disclosures in the Notes to the financial statements of enterprises. Regarding fixed assets involved in the performance of military transport duties of different types of enterprises, recommendations on improving the primary documentation for accounting for the movement of fixed assets with data on the costs of an independent assessment of the value of the vehicle and the inclusion in the financial statements - Balance Sheet (Statement of Financial Position) of a separate section ‘Vehicles involved in the performance of military transport duties of enterprises’ and Form 5 ‘Notes to the Annual Financial Statements’ in the group ‘Vehicles’. The practical significance lies in the development of proposals for supplementing the primary documentation on accounting for the movement of fixed assets with data on the costs of independent vehicle valuation and financial statements with information on vehicles mobilised from legal entities during a special period.

Keywords

non-current assets, fixed assets, military transport duty, impairment of assets, accounting, statements.

JEL classification: М400; М410; DOI: https://doi.org/10.32680/2409-9260-2024-5-6-318-319-7-15

UD classification: 657.421.3:[657+657.37]"364"

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