BUSINESS INFORM №8-2016

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Section: Accounting and Auditing
UDC 657
Iatsunska O. S.
The Procedure of Diminishing Utility of Fixed Assets: Organizational-Methodical Aspects (p. 130 - 140)
The article is concerned with studying existing approaches to formalization of the procedure of depreciation of assets, in particular fixed assets, and their further developing. It is found that the proposed approaches to formalizing the procedure of diminishing utility are largely duplicative and don't solve the problems (obstacles) specified, which prevent implementation the of P(S)A 28 «Diminishing utility of assets» into practice. The author's own approach to organization and methodology of implementing the procedure of devaluation has been proposed. This approach is provided in form of a structurally-logical schema, where the basic and interconnected four stages are allocated and substantiated. The need to refine and harmonize the domestic terminology of accounting concerning definiendum and definiens of the definition of «book (net book) value» has been specified that will make possible to overcome a certain inconsistency and observe the requirement of internationality when building up terms, and will also appear as progress towards convergence of national and international standards. The necessity of amending the feature of the bill 13 «Wear and tear (depreciation) of non-current assets» and its supplementing by the second order bill 136 «Losses from diminishing utility» with correspondence on the loan with the debit of the bill 97 «Other expenses» has been substantiated.
Keywords: assets, fixed assets, valuation, book value, amount of anticipated amend, fair value, net value of implementation, present value of the anticipated net income, losses from diminishing utility, business model
Fig.: 1. Bibl.: 20.

Iatsunska Olesia S. – Postgraduate Student, Department of Accounting and Auditing, Odesa National Economic University (8 Preobrazhenska Str., Odesa, 65082, Ukraine)
Email: [email protected]

Article is written in Ukrainian
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Reference to this article:
Iatsunska, Olesia S. (2016) “The Procedure of Diminishing Utility of Fixed Assets: Organizational-Methodical Aspects.” Business Inform 8:130–140.

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