Naumchuk O. Capital assets: methods of accounting and accounting policy making

The present work highlights differences between the concepts of "fixed assets", "fixed capital" and "capital assets". The essence and basic principles of formation of accounting policy, as well as its elements, in respect of capital assets are defined. The techniques of industrial construction cites expenditure accounting is improved; the methods of incorporating capital assets, gained free of charge, their further assessment and depreciation, assessment of expenditures on their reconstruction and improvement as well as methodology of capital assets depreciation are refined. The following has been developed at the present work: informational and organizational model of accounting policy elements analysis; methods of identification of capital assets and miscellaneous non-current tangible other assets costing limits; methods of identification of substantial expenditure amounts used for repairing; algorithm for subsequent actions to be undertaken within the process of identification and correction of depreciation methods.