Methodological approaches to evaluation and revaluation of fixed assets in the context of implementing international accounting standards

Annotation. It has been established that the issues of methodological nature are of key importance in ensuring the reproduction process of the elements of material and technical resources, among which the issues of applied significance should be emphasized, such as justification of criteria and indices which can be indicators of the reproduction process state; developing algorithm of the latter at its various stages; modeling reproduction processes at the enterprise. Considering the issues of developing objective criteria and indices for the evaluation of the reproduction process of the elements of material and technical resources at the agricultural enterprises, the first thing to be noted is an unresolved issue of fair value, which creates the situation wherein book value of fixed assets and other assets minimizes the investors’ possibilities to protect their interests. This is due to the fact that accounting in Ukraine serves for tax control rather than management and investment. Evaluation of fixed assets, being the components of material and technical resources (MTR), at fair value makes it possible to characterize the reproduction process objectively, define the property status of the economic entity more precisely. However, it distorts financial result. We believe that simultaneous use of several indices for fair value measurement may lead to different fair values of the fixed asset. An agricultural enterprise is obliged to analyze the reasons for inconsistencies in calculations and choose the most precise estimation of the fair value. Fair value of the assets must reflect variability of money flows, which are taken into consideration during price negotiation by independent, knowledgeable buyers and sellers interested in making such a deal. There is no unified approach due to the fact that most of the assets do not have market value, and their fair value estimated by the expert is conditional and fair only as of the estimation date. Nevertheless, fair value is necessary for the potential investors and indispensable to financial assets. Evaluation methods of fixed assets at their fair value require development, adjustment of evaluation model, which will make it possible to ensure equivalency of exchange between the independent parties on the active market.