Home  Journals  International Accounting  47(389) - 2015 December

Problems of accounting of non-current assets revaluation and its results in commercial organizations

Received: 3 February 2016

Accepted: 17 February 2016

Available online: 25 March 2016

Subject Heading: FINANCIAL ACCOUNTING

JEL Classification: 

Pages: 24-40

Importance The modern economic literature gives a wide coverage to non-current asset accounting. However, the issues of valuation and reevaluation, as well as documenting associated with respective changes in fixed assets require further research. It is necessary to develop a sound approach to these problems solution through developing specific measures to create and use of qualitative accounting information on non-current assets by business entities.
     Objectives The purpose of the study is to explore contemporary issues and develop recommendations on the application of methods and documentation of fixed assets revaluation.
     Methods The methodological framework includes regulations and research papers of Russian specialists in financial accounting. The study employs modeling, comparison, classification and synthesis of theoretical aspects and practical recommendations for modeling and implementation of the proposed measures to improve the accounting.
     Results We studied various aspects of fixed assets valuation and accounting, systematized conditions preventing the reevaluation, and proved its importance for businesses in the current environment. The paper considers existing techniques for fixed assets revaluation and provides a form of a source accounting document, which will ensure recording the changed value of fixed assets resulting from revaluation.
     Conclusions The practical realization of offered measures will enable to find solutions to some of the problems, to get unbiased and reliable information about non-current assets and property and financial standing of a business entity.

Keywords: non-current assets, fixed assets, revaluation, documentation, revalued residual

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