ACCOUNTING ASSESSMENT OF CAPITAL RESERVES BY RESERVE EXPLORATION AND MINERAL EXTRACTION COMPANIES

Анотація

The article is devoted to the problems of accounting assessment of capital reserves by enterprises whose activities are related to exploration and assessment of reserves and extraction of minerals. Such activity is of public interest, as it concerns the consumption of natural resources of common ownership and has a significant negative ecological impact on the environment. Entities that extract mineral reserves are obliged to eliminate the negative consequences of resource extraction, carry out land reclamation and other measures to restore the natural environment. Capital reserve is a toolkit that enables mining companies to protect themselves from unforeseen costs and losses, ensure the stability of operations and the fulfillment of social and environmental obligations to society. The formed capital reserves will make it possible to cover the costs associated with the completion of mining projects and restoration of the natural environment. An important and most problematic methodical method of accounting for capital reserves is their evaluation. Based on the generalization of the theoretical and methodological foundations of accounting, two types of assessment of the value of capital reserves are determined – normative and current. The article substantiates two approaches to determining the current assessment of the studied reserves – at amortized value and at fair value. Based on the results of the analysis of the mandatory documents on the standardization of accounting and financial reporting, the need to apply the fair value approach based on the method of discounting future cash flows has been established. Reserves can be assessed on the basis of the professional judgments of the company's financial managers, the experience of similar operations, and the opinion of independent experts. The choice of a specific approach to the assessment of each type of reserves, which are formed in the company's accounting system, must be recorded in the Order on accounting policy with a detailed disclosure of the accounting methodology for its accrual and write-off.

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