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International Accounting
 

Non-produced assets: The particularities of recognition and measurement at public sector organizations

Vol. 23, Iss. 9, SEPTEMBER 2020

Received: 3 September 2020

Received in revised form: 7 September 2020

Accepted: 8 September 2020

Available online: 15 September 2020

Subject Heading: FINANCIAL ACCOUNTING

JEL Classification: М42

Pages: 981–995

https://doi.org/10.24891/ia.23.9.981

Kozmenkova S.V. National Research Lobachevsky State University of Nizhny Novgorod (UNN), Nizhny Novgorod, Russian Federation
skozmenkova@yandex.ru

ORCID id: not available

Maslova T.S. National Research Lobachevsky State University of Nizhny Novgorod (UNN), Nizhny Novgorod, Russian Federation
maslova-finfak@mail.ru

ORCID id: not available

Subject. This article examines the Federal Accounting Standard Non-Produced Assets, which will be implemented from 2021.
Objectives. The article aims to analyze the structure of non-produced assets, their measurement and accounting procedure, and recognition.
Methods. For the study, we used a comparative analysis and the methods of induction and deduction, and classification.
Results. Based on an analysis of the provisions of the Non-Produced Assets Standard for public sector organizations, the article identifies problematic issues of valuation and measurement of these assets. It suggests returning to the principle of separate accounting of current and capital outlays in the subsequent assessment of non-produced assets for reconstruction and modernization costs.
Conclusions and Relevance. Non-produced assets are a new object of budgetary accounting. In order to properly and reasonably apply the provisions of the Non-Produced Assets Standard in practice, we believe that detailed explanations and guidance on these accounting facilities recognition, evaluation, measurement, accounting and reporting are needed to be presented by both the regulator and the scientific community and practitioners. The results of the study can be applied in budgetary accounting theory and practice.

Keywords: recognition and measurement, non-produced assets, land property, subsoil asset, aquatic resources, unused biological resources

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