Importance The article deals with the accounting for estimated liabilities for upcoming dismantling and disposal of fixed assets and restoring the site the property is located on. There are two accounting procedures for that: the one running in 2017, and the one to be introduced in 2018. Objectives The article aims to acquaint the professional community with the pending changes in the Russian accounting regulatory system. Methods For the study, I used methods of analysis, synthesis, comparison, generalization, analogy, and the ascent from the abstract to the concrete. The Russian Accounting Standards, International Financial Reporting Standards, and the Draft Federal Accounting Standard Fixed Assets are the research source data. Results I have reviewed the accounting procedure for estimated liabilities for upcoming fixed assets disposal in accordance with the normative documents of the RF Ministry of Finance of 2017 and the Draft Federal Accounting Standard Fixed Assets. The analysis reveals some inconsistencies between the existing and planned-to-impose procedures of this accounting. The paper gives some examples of reflection of estimated liabilities in accounting. Conclusions and Relevance The procedure of accounting for estimated liabilities for upcoming fixed assets disposal, proposed in the Draft Federal Accounting Standard Fixed Assets, complicates the national accounting methodology for fixed assets, as the annual balance sheet change involves estimating a fixed asset when calculating the present value of the estimated liability for the upcoming disposal. The results of this research can be used for preparation for conducting and teaching accounting in 2018.
Keywords: fixed assets, estimated liabilities, Federal Accounting Standards, IFRS, reform of accounting
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