Iaginary assets in corporate accounting and reporting

Abstract

Importance: the article examines the problems of identifying the presence of a corporation and reflection in corporate accounting and reporting of imaginary assets, as well as methods for determining assets that do not meet the conditions of recognition, the organization of control over the movement of imaginary assets. Purpose: formation of documented systematized information about the imaginary assets of the corporation, disclosure of information for economic decisionsmaking by interested parties. Research design: on the basis of documents in the field of accounting regulation, the basics of the methodology for identifying imaginary assets of the corporation have been developed, including the determination of assets that do not meet the recognition conditions, testing of assets for impairment, reflection in the accounting for the facts of economic life that characterizing the impairment of assets, the formation of estimated values, the organization of control over the presence and condition of imaginary assets, preparation of internal corporate reporting. The study of the typology of risks made it possible to identify the impact of the presence of imaginary assets on the equity capital of the corporation. Results: it is proposed to supplement the aspects of the accounting policy of the corporation with provisions that allow to identify imaginary assets, test assets for impairment, reflect the facts of economic life that characterize the change in the value of assets, generate information on reporting and control the facts of economic life indicating the presence and movement of imaginary assets.