FIXED ASSETS ACCOUNTING IN ACCORDANCE WITH THE NEW FEDERAL STANDARD FSBU 6/2020 «FIXED ASSETS»

Abstract

The article examines the main changes in the accounting and tax accounting of fixed assets that have occurred in accordance with the adoption of the new Federal standard FSBU 6/2020 «Fixed Assets». The author compared the current PBU 6/01 «Accounting for fixed assets» with the mandatory for use from the reporting for 2022 FSBU 6/2020 «Fixed assets». The article contains comparative characteristics of regulatory documents and explanations on them. The new regulatory document introduces changes not only to such concepts as cost, depreciation, useful life, but also gives a new, significantly distinguis hable, concept of fixed assets, requirements for the recognition of assets as items of fixed assets. The comparisons made in the article can be useful for practical application. It is noted that the accounting of fixed assets has become closer to International financial reporting standards. For example, such a concept as «fair value» is introduced by FSBU 6/2020 in accordance with International Financial Reporting Standard (IFRS) 13 «Fair Value Measurement». The author concluded that the practical application of all the innovations in the accounting of fixed assets will facilitate the formation of financial statements in accordance with IFRS.