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International Accounting
 

The "balanced" approach in accounting for the disposal of fix assets

Vol. 17, Iss. 46, DECEMBER 2014

Available online: 25 February 2015

Subject Heading: MANAGEMENT ACCOUNTS

JEL Classification: 

Pages: 17-25

Sitnikova V.A. The Financial University under the Government of the Russian Federation
Moscow, Russia

https://orcid.org/sitnikova_vak@mail.ru

Subject, theme, goal. The article is devoted to the accounting for income and expenses from disposal of fixed assets. Questions of application of alternative accounting are very important for organizations in the absence of clear guidelines on accounting this kind of operations. Reasons are presented in order to identify the most appropriate method of recording transactions.
     Methods. Accounting treatments for income and expenses related to the operations of accounting of fixed assets with retirements for various reasons are disclosed through analysis and comparison of requirements of normative documents. The perspectives for the reflection of operations on the accounts regarding to the content of the draft regulations on accounting "Profits of organization" are considered.
     The results of the work. The author payed attention TO On factors that influence the experts' position in choosing the most appropriate ways of reflecting on disposal of fixed assets. The selected method of accounting is reflected in the accounting policies. The reasonable accounting approach to this kind of operations is necessary to improve organizational level of accounting in commercial organizations.
     The application of results. The article materials will be useful for specialists in accounting to make more informed decisions about the specific version of the accounting for the disposal of property, plant and equipment, fully complies with the requirements of normative documents.
     The conclusions. This review had led to the conclusion that in those conditions there is the feasibility of application the traditional way of accounting for asset retirement, which involves reflection on the account 91 "Other income and expense" of all amounts of income and expenses arising in connection with the retirement of the object, but not their net value. The "balanced" approach is considered as perspective variant, which will be widely used under the influence of changing requirements of normative documents.

Keywords: income and expenses related to retirement of fixed assets, retirement by liquidation reason, the net amount of income and expenses

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