THE INITIAL COST OF FIXED ASSETS AND ITS MODIFICATION IN THE CONTEXT OF THE APPLICATION OF NEW ACCOUNTING STANDARDS

Abstract

In order to maintain the technical condition of fixed assets in accordance with the requirements of production, it is important to form and implement projects to upgrade, modernize and restore existing production facilities. The valuation of the organization's fixed assets serves as the most important condition for the formation of objective accounting and reporting information on them. The correct assessment determines the formation of the real value of depreciation deductions, the total amount of expenses and calculation. The article discusses the accounting and economic problems of the formation of the valuation of fixed assets in the context of the introduction of the new FSB 6/2020 "Fixed assets". The importance of an objective assessment of the value of the property assets of the enterprise is substantiated, the types of valuation of fixed assets are systematized. Objective valuation of fixed assets, the methods of their revaluation, depreciation charges, and their reflection in accounting and reporting selected and approved in the accounting policy ultimately affect the efficiency of enterprises. The innovations in terms of the formation of the initial, fair and revalued value are shown. Conclusions are drawn regarding the advantages and disadvantages of the system of valuation of fixed assets that has been in place since 2022 in modern Russian accounting practice.