Peculiarities of evaluation and documentation of professionally received fixed assets

Abstract

Subject: problems arising during the accounting evaluation of investment assets received by the organization free of charge, subsequently accepted as fixed assets, as well as issues of documenting operations for the acceptance of fixed assets received free of charge for accounting. Scientific and methodological tools for assessing the fixed assets received free of charge allow you to monitor the timely and correct depreciation, determination of financial results in the disposal and liquidation of fixed assets, timely and reliable calculation of real estate tax. Purpose: the author’s research of the issues of evaluation of fixed assets received by the organization and development of documentation of operations related to the free of charge receipt of fixed assets. Research design: the assessment of the fixed assets received free of charge was considered taking into account the requirements of international financial reporting standards, the current legislation of the Republic of Belarus and taking into account the practice of applying regulatory documents in the accounting work of economic entities. In the process of achieving this goal, a set of measures of scientific knowledge was used: analysis, synthesis, a systematic approach; principles of accounting and reporting: continuity of activity, accrual, truthfulness, completeness, predominance of economic content. The basis for the development of documentation of free of charge received objects is the requirement of the Law on Accounting and Reporting, where each business transaction is the subject to registration with a primary accounting document. Results: the authors of the study proposed to use the current market value for taking into account the fixed assets received free of charge, the procedure for determining the current market value of fixed assets received free of charge in certain situations arising in the practice of economic activity of organizations is presented, the procedure for documenting the free of charge transfer/receipt of fixed assets from both the transmitting and receiving parties is proposed.