ACCOUNTING POLICY: CONCEPT, PRINCIPLES, ELEMENTS, AND FORMULATION FOR UTILITY ENTERPRISES
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Keywords:
fixed assets, classification of the fixed assets, forming of cost, presence, motion, account, synthetic account, analytical accounting, position (standard) to the record-keeping, international standard of record-keeping, primary documentsAbstract
In the article theoretical questions are reflected in relation to a concept "the fixed assets" from position of economic essence, operating practice of organization of record-keeping, presence and motion of the fixed assets, classification of the fixed assets and other inconvertible material assets is considered on groups in a book-keeping and tax account, the criteria of confession of asset and primitive cost of the fixed assets are reasonable in accordance with Statute (to the standard) of record-keeping 7 the "Fixed assets", Internal revenue code of Ukraine, International standard of record-keeping 16 the "Fixed assets", considered basic normative document, that regulate account the fixed assets in Ukraine. Depending on features, state of the fixed assets, estimation of the fixed assets, time, distinguish the next types of cost : primitive cost of the fixed assets; fair value of the fixed assets; over-estimated cost of the fixed assets; cost that is amortized; liquidating value of the fixed assets; remaining cost of the fixed assets.The primitive cost of object of the fixed assets depends on the method of their receipt on an enterprise, id est acquisition or creation, receipt, payments to the charter capital, and also exchange on similar or unsimilar assets.
References
Ministry of Finance of Ukraine (2000). “Regulation (stand-ard) accounting 7 «Fixed assets»”. Retrieved from http://zakon2.rada.gov.ua/laws/show/z0288-00
The Verkhovna Rada of Ukraine (2010). The Law of Ukraine “Tax code of Ukraine”. Retrieved from http://zakon0.rada.gov.ua/laws/show/2755-17
The Council for International accounting standards (2012), 16 “Fixed assets”. Retrieved from https://zakon.rada.gov.ua/laws/show/929_014
Plan of accounting of assets, capital, liabilities and business operations of enterprises and organizations. Retrieved from http://zakon.rada.gov.ua/laws/show/z0892-99
Instruction on the applicatson of the Plan Accounts of Ac-counting for Assets, Capital, Commitments ant Business Op-erations of Enterprises ant Organizations. Retrieved from http://zakon.rada.gov.ua/laws/show/z0893-99
The Verkhovna Rada of Ukraine (1999). The Law of Ukraine “On accounting and financial reporting in Ukraine”. Retrieved from http://zakon2.rada.gov.ua/laws/show/996-14
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