International Accounting
 

Models of accounting of fixed assets in terms of deferred (installment) payment according to IFRS and their adaptation to the Russian legislation

Vol. 21, Iss. 9, SEPTEMBER 2018

Received: 4 July 2018

Received in revised form: 23 August 2018

Accepted: 6 September 2018

Available online: 14 September 2018

Subject Heading: ACCOUNTING SYSTEMS ADAPTING

JEL Classification: G12, H20, M41

Pages: 1052–1068

https://doi.org/10.24891/ia.21.9.1052

Prosvirina I.I. South Ural State University (National Research University) (SUSU (NRU), Chelyabinsk, Russian Federation
prosvirinaii@susu.ru

https://orcid.org/0000-0003-1791-993X

Gonchar E.A. South Ural State University (National Research University) (SUSU (NRU), Chelyabinsk, Russian Federation
goncharea@susu.ru

https://orcid.org/0000-0003-1678-536X

Volchenkova O.A. South Ural State University (National Research University) (SUSU (NRU), Chelyabinsk, Russian Federation
volchenkovaoa@susu.ru

https://orcid.org/0000-0002-3141-1123

Andreeva O.M. South Ural State University (National Research University) (SUSU (NRU), Chelyabinsk, Russian Federation
andreevaom@susu.ru

https://orcid.org/0000-0002-2721-3255

Subject This article focuses on the methodological issues of accounting for fixed assets in terms of deferred (installment) payment in accordance with IFRS, and it analyzes the possibility of their adaptation to the Russian accounting practice in terms of the current legislation.
Objectives The article aims to transform models of accounting for fixed assets in terms of postponement (installment) of payment under IFRS and analyze the possibilities and peculiarities of their application in the Russian accounting practice.
Methods For the study, we used the methods of logical analysis, and systematization and generalization of the material considered.
Results Taking into account various options of deferred (installment) payment, the article presents models of accounting for fixed assets for each particular variant under IFRS, analyzing the possibility of their application in the Russian accounting practice under the current legislation. It also considers the models in the tax aspect. The study identifies a variety of situations with postponement (installment) of payment, involving different models of accounting for fixed assets under IFRS.
Conclusions On the basis of the analysis of the peculiarities of application of the IFRS provisions regulating the valuation of fixed assets during the deferment (installment) of payment, we speak about the possibility of applying three selected models of accounting for fixed assets in the Russian accounting practice, provided correct accounting policies.

Keywords: IFRS, FSBU, accounting for fixed assets, postponement of payment, installment payment

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