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Peculiarities of reforming the fixed assets transactions accounting and its impact on equity

Journal: Vestnik of Institute of Economic Research (Vol.8, No. 4)

Publication Date:

Authors : ; ;

Page : 5-13

Keywords : fixed assets; depreciation; major repairs; devaluation; revaluation; realization and liquidation; book value; expenses; equity;

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The necessity of improving accounting operations with fixed assets has been observed in article. The article identified the shortcomings in accounting such transactions with fixed assets as capital repairs; devaluation, revaluation, realization and liquidation, which may lead to the distortion of their book value, operating costs, financial results and owners equity. A new approach in accounting for the above transactions with fixed assets has been proposed.

Last modified: 2018-04-02 16:51:49