S. Bessonova. The role of fixed assets in the activities of industrial enterprises and current trends in their accounting.

Abstract

The study determines the impact of fixed assets in the activities of industrial enterprises and analyzes their role and state. It is proved that the worsening of the state of fixed assets at the present stage of development of the Ukrainian economy leads to loss of markets and a decrease in solvency, leads to the impossibility of introducing the latest technologies and updating production of non-negotiable resources. To renew fixed assets, there is a need for a significant amount of financial resources. The analysis of  innovative activity financing sources  has proved that over a long period of time one of the main sources has been  the enterprises equity funds. The study of the current state of fixed assets and sources of financing innovative activity has proved that leasing facilitates the attraction of investment resources and the renewal of fixed assets of Ukraine. Correct organization of accounting influences efficiency of the enterprise. The analysis of scientific research in the field of accounting of fixed assets revealed a number of disagreements and unresolved issues.  The works of many leading scientists were devoted to the issues of improving the accounting of fixed assets. Differences in the interpretation and accounting of fixed assets lead to the conclusion on improving the accounting of fixed assets; the contradictions relate to production activities of the enterprise. Thus, according to the accounting data assets are recorded regardless of whether they are used in the production activity or they belong to the non-production sphere and in tax accounting only the basic tools that are involved in production activities are taken into account. The study showed that there are differences in definitions of fixed assets between national and international standards and according to the requirements of the Tax Code. Analysis of the regulatory and legislative framework governing accounting and movement of fixed assets has identified certain ways to bring financial and tax accounting closer; however, there is still a number of differences in accounting for repair costs and improvements and repairs of fixed assets. There are differences in skill groups and the timing of their useful use. The prospect of further research is the search and improvement of methods for attracting investment resources for the renovation and modernization of fixed assets of an industrial enterprise.