The thesis substantiates theoretical basis as well as organizational, methodological and practical recommendations on the accounting estimate of assets in the enterprise management system, aimed at improving the effectiveness of management decisions.
The scientific approaches are summarized, the controversial nature of the “assets” concept is specified, and their classification is made more exact taking into account the information needs of the enterprise management system. The need and importance of differentiating between the “assets”, “resources”, and “property” concepts were adjusted. It was also determined that the accounting system only generates the asset information in the financial statements.
Criteria and procedure for recognition of the enterprise assets while reflecting business processes are proved. A cyclic algorithm of the process is proposed, which takes into account all stages, from receipt to disposal.
It is determined that the resources flowing to the enterprise are transformed into assets via the set of management system decisions on the way of their further use in economic activity. Therefore, to ensure the validity of accounting information about the asset value, it is proposed to include a management system in the process of selecting methods of accounting estimate of their value, taking into account the phase in the enterprise development. It is found that the accounting estimate of assets relies on the accountant’s professional judgment, which is formed influenced by the requirements and principles, in particular, reliability, consistency and continuity.
It is suggested that all accounting entities that were included in the assets but have lost their features should be assigned to the "items removed from assets" group before deciding on how to further profit from their use.
It is found that developing approaches to the asset valuation is inherent part of national characteristics, history, values and society development. As to the international and national accounting standards convergence in Ukraine, the need to form a common legislative area for accounting estimate of assets is proved. For that to happen, it is proposed to eliminate the tax legislation influence on the classification attributes of fixed assets, their revaluation and the procedure for accrual of depreciation.
It is suggested that the non-current assets that are subject to revaluation should be grouped according to their susceptibility to fair value changes to ensure the effective process organization.
Based on the analysis of the enterprise asset structures and taking into account their division into large, medium, small and micro ones, the need for a unified approach to defining the financial reporting is determined. Small and micro enterprises are offered to rely on fair value while determining the value of the residual stock products and work in progress at the balance sheet date.
A proposal to improve the current national accounting standard 9 "Inventories" has been drafted, which provides for the possibility of using fair value except for the least of the two estimates: initial or net realizable value. The dependence of quality of the financial position indicators and the fairness of determining the financial result on the asset valuation reliability is established. The influence of the methods for estimating the inventories disposal on the balance sheet indicators and the financial result depending on their turnover period is specified.
A method for establishing interaction between accounting and management systems in making decisions on approaches to accounting estimate of assets is developed. Organizational measures are proposed to improve the process of developing enterprises’ accounting policies. The necessity of making alterations to the Methodological Recommendations related to the Accounting Policy of an Enterprise is proved. The Recommendations envisage that the accounting policy is an element not only of the accounting organization system but also of the enterprise management system.
When reviewing the main provisions of the Accounting Policy Order, it is proposed to use an algorithm for choosing the best methods of accounting estimate of assets based on asset valuation techniques complying with national standards that take into account the stage in the enterprise development, namely, creation, development, maturity, decline, reorganization, and liquidation.
A logical relationship is developed between the synthetic accounting and the financial situation reporting when generating information about non-current assets and disposal groups held for sale. The bookkeeping system for accounts has been improved to reflect the availability and flow of non-current assets and disposal groups held for sale. It is proposed to amend the Instruction on the application of the Chart of Accounts for the Accounting of Assets, Capital, Liabilities and Business Transactions of Enterprises and Organizations.
