Subject The order of the Ministry of Finance of the Russian Federation № 160н of November 25, 2011 put into effect IFRS 5 Non-current Assets Held for Sale and Discontinued Operations in the Russian Federation. The standard sets a fundamental task to determine principles to be applied by organizations to disclose information on the nature, size and timing of cash flows from the use of these assets. Objectives The aim of the paper is to develop a unique classification of major trends in the development of accounting for fixed assets held for sale subject to changed user requests for accounting information. Methods The study rests on the systems approach that treats assets held for sale as a special accounting category. During the study, I examined laws and regulations, works of national and foreign scientists, employed induction, deduction, and other methods. Results The article proves the need for separate accounting records for fixed assets held for sale, the expediency of keeping records in a separate Account 06 Long-term Assets Held for Sale with sub-accounts by types of disposed fixed assets. I worked out a scheme of accounting operations to prepare assets for sale. Conclusions The current accounting system is under reforming and continuous improvement. Transformation processes in the economy, information support to business operations of enterprises have an impact on the development of the accounting system of the organization, particularly, on fixed assets accounting.
Keywords: non-current assets held for sale, fixed assets
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