Information support of the accounting system of agribusiness entities in terms of depreciat ion of fixed assets
Abstract
Importance: аgribusiness companies today operate in conditions of a certain level of uncertainty. This is due to the consequences of the Covid 19 pandemic, sanctions pressure on business, the consequences of political
events and other external factors that affect the value of the company’s assets. The information generated in the company’s financial statements must meet the qualitative characteristics outlined in the Conceptual Framework for the Presentation of Financial Statements – relevance, truthful presentation, prudence, comparability, etc. The existing realities of the business environment provide many new opportunities for the development of economic entities. With the improvement of the operating conditions of enterprises, the need to improve the management apparatus of production and economic activities is becoming more acute, in terms of strengthening internal control over the movement of inventory, cash, and strengthening the security of the company’s assets. The basis of these improvements, first of all, is the high-quality organization of the accounting and internal audit system in the company. Purpose: to determine the parameters of the information support of the company’s accounting system regarding the procedure for depreciation of fixed assets. Research design: within the framework of the article, we have summarized various opinions, points of
view and existing experience in the field of impairment procedures for fixed assets. When reflecting the economic condition of agribusiness entities, it is necessary to take into account the local features of their functioning and clearly represent the risks that this business generates. Taking into account the combination of these factors, the issues considering the mechanisms / methods of conducting inspections for impairment of the company’s fixed assets are relevant, since their share in the asset structure of agricultural organizations reaches 50% or more. Results: оur findings extend previous research in a given area and conclude that the impairment test is a process that requires informed decisions when choosing the tools for its implementation and a critical assessment of the results obtained. The proposed research has theoretical and practical implications in various areas of decision-making related to accounting and company management
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References
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