Theoretically, depreciation charges should be a source of financing, first of all fixed asset funding; however, in practice, at the modern stage they do not play a significant role in technical upgrade and re-equipment of companies. The article describes the purpose and method of creating a depreciation reserve and a special bank account during the Soviet era that provided a basis to consider the reserve resources as monetary items. The article also depicts the circumstances due to which it is not possible to resume the mechanism of using depreciation as a source of reproduction that operated during the socialist period. The authors substantiate the thesis that the formation of a sinking fund in the Soviet Union's accounting system was a unique solution of those times, and depreciation was not only an economic but also a political category. The study considers the evolution of the Chart of Accounts of a company's financial and economic activity from the Soviet era to the present day. The study also reveals the reasons that prevent resuming the operation of the mechanism of depreciation use as an internal source of building company's resources as it was in the Soviet period. The study includes a brief overview of scientific literature on problematic aspects of depreciation charge use. The authors conclude that to develop a mechanism of using depreciation charges as a reproduction source, it is necessary to introduce an adequate legal and regulatory framework.
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