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Organization and Methodology of Accounting of Fixed Assets for Components

Journal: Collection of Scientific Works of Kirovohrad National Technical University. Economic Sciences (Vol.29, No. 1)

Publication Date:

Authors : ;

Page : 144-150

Keywords : accounting; fixed assets; components; useful life; cost threshold; methods of depreciation; repairs;

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The purpose of this article is to study the organizational and methodical aspects of accounting of fixed assets by components and reflect the latest in accounting policy. It should be noted that "component" accounting relevant for a limited number of enterprises, its use is not directly dependent on the specific weight of fixed assets non-current assets. The need for such accounting arises from entities that intensively invest in fixed assets and also for the specific purpose of the objects at a significant cost and frequent need of repair. Business entities that use "complex" objects in activity may reflect the latest in accounting, distributing them into parts (components) with the mandatory regulation of such distribution the accounting policies of the company. The main issues that require lighting in Order on the accounting policy of the enterprise are: the terms of the distribution of objects into components; the value of the threshold from which the objects are separate accounting units; determination of useful life; method of calculating depreciation; the organization and methodology of accounting for repairs. The transition to component accounting should be implemented gradually, first making a thorough analysis of the means of labor concerning the terms, conditions, intensity of operation, frequency of major repairs. The study and implementation of component accounting in the accounting system of the enterprises will increase the control over the use of objects will reduce the calculations, the need for which arises as a result of the cancellation of separate parts of "difficult" objects, organizes fixed assets accounting.

Last modified: 2016-12-12 15:50:12