Fixed assets as an element of enterprise accounting policy: methodological and organizational aspects

Gorokhovets Yulia
PhD in Economics, Senior Lecturer at the Department of Accounting and Taxation, Zaporizhzhia National University, Zaporizhzhia, Ukraine, E-mail: JuliyuGorohovets@gmail.com , ORCID: https://orcid.org/0000-0001-5813-881X

Gryn Victoria
PhD in Economics, Associate Professor, Associate Professor of the Department of Accounting and Taxation, Zaporizhzhia National University, Zaporizhzhia, Ukraine, E-mail: viktoriya_grin@ukr.net, ORCID: https://orcid.org/0000-0002-6758-7374

Skrobina Yelyzaveta
accountant "LLC" VKF "Klimatagroservice", Zaporizhzhia, Ukraine, E-mail: skrobin08a@gmail.com, ORCID: https://orcid.org/0009-0003-9579-878X

Cite this article:

Gorokhovets Y., Gryn V., Skrobina Y. (2024) Fixed assets as an element of enterprise accounting policy: methodological and organizational aspects. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Osnovni zasoby jak element oblikovoi polityky pidpryjemstva: metodychni ta organizacijni aspekty; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odesa National Economic University (ISSN 2313-4569), Odesa National Economics University, Odesa, No. 12 (325), pp.29-35.

Abstract

Methodological and Organizational Aspects” examines the issues of enterprise accounting policy in relation to fixed assets. The authors emphasize the importance of proper organization of accounting for these assets, since they are a significant part of the company's material resources and affect its financial stability and competitiveness. The main purpose of the article is to analyze the methodological and organizational aspects of forming an accounting policy for fixed assets. The article discusses the key provisions of the National Accounting Regulation (Standard) 7 “Fixed Assets”, which defines the rules for recognition, valuation and depreciation of assets. The authors also examine the procedures for inventorying fixed assets, emphasizing its importance for ensuring control over the availability and condition of assets. Appropriate documentation and effective organization of the accounting process of fixed assets contribute to the transparency of financial statements and increase the economic efficiency of the enterprise. The conclusions emphasize that the accounting policy developed and implemented at the enterprise in terms of fixed assets increases the economic efficiency of the enterprise. Prospects for further research are to improve approaches to the formation of accounting policies for fixed assets, taking into account changes in the current economic environment and the use of new digital technologies for asset management.

Keywords

аccounting policy; fixed assets; depreciation methods; revaluation of assets; financial statements; inventory; valuation of fixed assets; accounting principles; useful life; internal control, documentation.

JEL classification: L260; M100; M410; DOI: https://doi.org/10.32680/2409-9260-2024-12-325-29-35

UD classification: 657.421:658.27

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