CONSIDERATIONS OF THE EFFECT OF ARMED CONFLICTS ON ACCOUNTING ESTIMATE OF FIXED ASSETS

Анотація

Armed aggression in Ukraine emphasized on reconsidering the accounting assumptions and approaches toward recognition, classification and measurement of the fixed assets that suffered physical damage or destruction as well as undergone deuteriation in usefulness due to worsening external environment. In the article the author studies the specifics of accounting estimate of enterprise’s fixed assets in terms of uncertainty driven by the armed conflicts. The number of accounting implications with regard to fixed assets accounting and measurement were considered in particular derecognition of fixed assets as a result of damage or destruction, revaluation or testing fixed assets for impairment, accounting for repair of partially damaged assets, etc. The author also provided a comparative analysis of cost and revaluation models applied for accounting of the fixed assets. Additionally, the author proposed methodological approaches for accounting estimate of the fixed assets in wartime depending on such factors as the condition of the assets, level of damage suffered, ability to exercise control over the fixed asset, feasibility to conduct repair of the damaged assets etc.

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