The Professional Judgement of Accountant in Determining the Composition of Non-Negotiable Tangible Assets in the Light of Harmonization with the IFRS
The need to expand the autonomy of enterprises based on the use of professional judgment by accounting workers in the formation of composition and determination of the objects of non-negotiable tangible assets has been substantiated. The general attributes of identification of the objects of non-neg...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Research Centre of Industrial Problems of Development of NAS of Ukraine
2018-03-01
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| Series: | Bìznes Inform |
| Subjects: | |
| Online Access: | http://www.business-inform.net/export_pdf/business-inform-2018-3_0-pages-271_275.pdf |
| Summary: | The need to expand the autonomy of enterprises based on the use of professional judgment by accounting workers in the formation of composition and determination of the objects of non-negotiable tangible assets has been substantiated. The general attributes of identification of the objects of non-negotiable tangible assets have been defined. With the purpose of adaptation of the national practice with the international standards, the authors prove the necessity of independent definition, in terms of the accounting policy of enterprise on the basis of professional judgement, approaches on reflection in accounting of spare parts and groups of the other non-negotiable tangible assets as stocks or as basic means; objects of the social and cultural sphere – as fixed assets or other non-negotiable assets; the right to transfer library funds to tangible or intangible assets. The main factors of object determination and composition of non-negotiable tangible assets have been determined on the basis of professional judgment. |
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| ISSN: | 2222-4459 2311-116X |