The role of fixed assets in enterprise management

Gorokhovets Yulia
Ph.D., Senior Lecturer of the Department of Accounting and Taxation, Zaporozhye, Ukraine, E-mail:JuliyuGorohovets@gmail.com, ORCID ID: https://orcid.org/0000-0001-5813-881X

Gryn Viktoriia
Ph.D., Associate Professor, Associate Professor of the Department of Education and Training, Zaporizhzhya National University, Zaporizhzhya, Ukraine, E-mail:viktoriya_grin@ukr.net, ORCID ID: https://orcid.org/0000-0002-6758-7374

Pushkar Іryna
Ph.D. holding director, associate professor, associate professor of the department of education and training, Zaporizhzhya National University, Zaporizhzhya, Ukraine, E-mail:iv_pushkar@ukr.net, ORCID ID: https://orcid.org/0000-0003-4380-7907

Klots Anastasia
accountant of VKF "Klimatagroservice" LLC, Zaporozhye, Ukraine, E-mail:asyaklets@gmail.com, ORCID ID: https://orcid.org/0000-0001-5813-881X

Cite this article:

Gorokhovets Yu., Gryn V., Pushkar І., Klots A. (2024) The role of fixed assets in enterprise management. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Rol bukhhalterskoho obliku osnovnykh zasobiv v upravlinni pidpryiemstvom; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odesa National Economic University (ISSN 2313-4569), Odesa National Economics University, Odesa, No. 10 (323), pp. 30-35.

Abstract

The article examines the key aspects of effective fixed asset management in enterprises, which plays a crucial role in ensuring stable operational activities and sustainable growth. Timely renewal of fixed assets and upgrading their technical level contribute to increasing production volumes and improving overall efficiency. Special attention is given to depreciation processes, the selection of appropriate methods for its calculation, and the possibilities of optimizing asset management strategies. Given the shortage of capital for asset renewal, modernization, and reconstruction in many enterprises, the importance of accumulating depreciation funds and their rational use is emphasized, allowing companies to maintain financial stability in inflationary conditions. Additionally, the article explores how the strategic allocation of depreciation reserves can be utilized not only for the direct replacement of assets but also for long-term investment planning. By integrating financial planning with asset management, enterprises can better align their technological upgrades with market demands and competitive pressures. This, in turn, enhances their adaptability to economic changes, ensuring that they can continue to innovate and remain profitable. The analysis also underscores the necessity of considering both internal and external financial factors when choosing depreciation methods, as well as the long-term impact of these decisions on the company’s overall financial health and market position.

Keywords

fixed assets, asset management, renewal of fixed assets, depreciation deductions, modernization, maintenance, investment, economic efficiency.

JEL classification: L260; M100; M410; DOI: https://doi.org/10.32680/2409-9260-2024-10-323-30-35

UD classification: 658.27:005.93

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