Russian Accounting Standard (PBU) 18/02: A new approach to accounting for deferred taxes in the recognition of fixed asset transactions

2020 ◽  
Vol 23 (3) ◽  
pp. 244-261
Author(s):  
I.A. Lisovskaya ◽  
N.G. Trapeznikova
Keyword(s):  
Systems Analysis ◽  
Balance Sheet ◽  
Methodological Issues ◽  
Fixed Asset ◽  
Deferred Taxes ◽  
Accounting Standard ◽  
New Approach ◽  
Study Results ◽  
Fixed Assets ◽  
And Training

Subject. January 1, 2020, there came into effect a new edition of Russian Accounting Standard (PBU) 18/02, Accounting for Deferred Taxes on Corporate Income, which introduced the balance sheet approach to assessing deferred taxes. Therefore, the Russian accountants have to revise the way they have been applying PBU 18/02, and adjust the previous deferred taxes respectively. Objectives. We analyze methodological issues of accruing deferred taxes in relation to accounting for fixed assets when recognizing, measuring, remeasuring and constructing contingent liabilities for repair and others, which were introduced by PBU 18/02 as transactions resulting in timing differences. Methods. The study employs the systems analysis and logic generalization of legislative and regulatory documents and special literature on the issues under study. Results. Illustrating fixed asset transactions, we find that it is necessary to master the balance sheet method of accruing deferred taxes, including the coming changes in some provisions of PBU 6/01, Accounting for Fixed Assets. Conclusions and Relevance. Poor knowledge of the balance sheet complicates, inter alia, the use of the balance sheet method to accrue deferred taxes. Thus, it is reasonable to make methodological recommendations on the use of the balance sheet method to assess deferred taxes in line with the coming amendments to the existing standards and expedite mastering IFRS. The findings are designated for research, practice and training of accountants and auditors, and make suggestions on the improvement of the national accounting methodology, which would pursue the convergence of the modern international practices.

Applying the updated PBU 18/02 Standard in the context of transition to Federal Accounting Standard FSBU 25/2018

2020 ◽  
Vol 23 (5) ◽  
pp. 503-520
Author(s):  
I.A. Lisovskaya ◽  
N.G. Trapeznikova
Keyword(s):  
Systems Analysis ◽  
Income Tax ◽  
Corporate Income Tax ◽  
Methodological Issues ◽  
Deferred Taxes ◽  
Accounting Standard ◽  
Tax Accounting

Subject. This article considers the complex issues of the co-use of PBU 18/02 Corporate Income Tax Accounting and Federal Accounting Standard FSBU 25/2018 Accounting for Leases. Objectives. The article aims to analyze methodological issues related to the recognition of deferred taxes in a tenant's accounting with consideration to the differences in the reflection of lease operations in accounting and tax records. Methods. For the study, we used a systems analysis and generalization. Results. The article identifies a number of unresolved methodological issues relating to the provisions of the updated version of PBU 18/02 in the context of the transition to a new lease reflection procedure. Conclusions and Relevance. The article concludes that it is now appropriate to prepare methodological materials explaining and clarifying the practice of applying regulations on the reflection of deferred income tax on lease transactions. The results of the study can be used in scientific and practical activities, as well as to develop proposals to improve the methodology of Russian accounting, focused on convergence with modern international practices.

Accounting estimates as the most important factor in the formation of the book value of accounting objects

2021 ◽  
Vol 22 (8) ◽  
pp. 848-867
Author(s):  
Irina A. LISOVSKAYA ◽  
Natal'ya G. TRAPEZNIKOVA
Keyword(s):  
Systems Analysis ◽  
Accounting Standards ◽  
Financial Statements ◽  
Accounting Standard ◽  
Book Value ◽  
Effective Implementation ◽  
Fixed Assets ◽  
Accounting Estimates ◽  
Points Of View ◽  
And Training

Subject. This article discusses the category of Accounting Estimates, which is important from the methodological and practical points of view, including the upcoming transition to Federal Accounting Standard 6/2020 (FAS 6/2020) – Property, Plant and Equipment. Objectives. The article aims to analyze the essence of the category of Accounting Estimates, including from the standpoint of the transformation of these estimates and their impact on the book value of fixed assets accounted for in accordance with FAS 6/2020. Methods. For the study, we used the methods of systems analysis and generalization. Results. Using some cases of transactions in fixed assets, the article shows that before the transition to FAS 6/2020, it is necessary to analyze which accounting estimates may get changed and how these changes will affect the dynamics of depreciation elements and financial statements indicators. Conclusions and Relevance. One of the reasons for the likelihood of practical difficulties associated with the justification and correct reflection of accounting estimates is the lack of knowledge of regulatory documents and international accounting practices. Therefore, it is advisable to prepare methodological recommendations on the reflection of changes in accounting estimates, given the upcoming transition to new accounting standards, and expand the practice of effective implementation of IFRS. The results of the study are intended for scientific and practical activities and training of specialists in the field of accounting, as well as the development of proposals for improving the Russian accounting methodology, focused on convergence with current international practice.

scholarly journals LITERASI KEUANGAN BAGI PENGURUS KOPERASI AMBOY BANTUL

Dharma LPPM ◽  
2021 ◽  
Vol 2 (1) ◽  
Author(s):  
Lita Yulita Fitriyani
Keyword(s):  
Financial Literacy ◽  
Balance Sheet ◽  
Financial Statements ◽  
Financial Accounting ◽  
Fixed Asset ◽  
Business Results ◽  
Processing Data ◽  
Fixed Assets ◽  
Microfinance Institution ◽  
And Training

This activity was conducted at amboy bantul cooperative consisting of producers and sellers of various processed foods, especially foods made from bananas. The type of business conducted by this cooperative is a business to save loans. This cooperative is a MicroFinance Institution (LKM)Based on the observations, some of amboy bantul cooperative managers are not yet understanding financial literacy. Literacy is an individual's ability and skills in reading, writing, calculating, solving problems, processing data, conveying information and understanding information related to daily life. Initially, the board of AMBOY Bantul Cooperative did not yet understand the meaning of depreciation or depreciation of fixed assets that should be presented in the financial statements.Therefore, this activity is intended to improve the ability of AMBOY  Bantul cooperative management in understanding how to prepare the correct financial statements, especially in recognizing the burden of depreciation and accumulated depreciation of fixed assets by providing counseling and training. After the management of this cooperative participated in counseling and training, finally AMBOY Bantul cooperative managers can understand how to calculate the burden of depreciation, accumulated depreciation and presentation in financial statement.They understand that depreciation expense accounts (all cooperative fixed assets) are presented on the Remaining Business Results Report as a reduction in service income accounts. They also understand that accumulated depreciation accounts reduce the acquisition price of each fixed asset presented on the balance sheet. Some administrators of AMBOY Bantul Cooperative can finally compile cooperative financial statements in accordance with Financial Accounting Standards for Entities Without Public Accountability (ETAP)

scholarly journals Deferred Tax Accounting Concepts and Their Bond to the Accounting Ideologies

2021 ◽  
Vol 8 (4) ◽  
pp. 34-50
Author(s):  
A. A. Aksent’ev
Keyword(s):  
Balance Sheet ◽  
Financial Accounting ◽  
Corporate Management ◽  
Controversial Issues ◽  
Deferred Taxes ◽  
Accounting Standard ◽  
Domestic Practice ◽  
Important Object ◽  
Deferred Tax ◽  
Tax Accounting

Deferred taxes are an important object of accounting observation to judge the degree of discrepancies between financial and tax accounting. Meanwhile, the information discloses to users the effects arising from the tax planning tools usage for corporate management and forecasting cash outflows associated with the payment of income tax in the future. The paper formalized two concepts of accounting for deferred taxes in the form of models: temporary and timing differences associated with accounting ideologies. The author ha structured the logic of reflecting deferred taxes on accounting accounts using the balance sheet and “cost” methods. Analysis of foreign experience and domestic practice made it possible to conclude that there are controversial issues on the assessment of deferred taxes in reporting, including at present value. Also, the author revealed discrepancies in Russian Accounting Standard (PBU) 18/02 which were conceptually different from a similar international standard and conflicting with it in a number of theoretical and methodological positions. The research results are aimed at scientific and practical workers in the field of financial accounting, taxation and audit.

scholarly journals ACCOUNTING STANDARDS FOR FIXED ASSETS OF U.S. GAAP AND IFRS: COVID-19 PANDEMIC AND EARNINGS MANAGEMENT PERSPECTIVES

2021 ◽  
Vol 6 (1SP) ◽  
pp. 122
Author(s):  
Andreas Vernando
Keyword(s):  
Earnings Management ◽  
Accounting Standards ◽  
Fair Value ◽  
Faithful Representation ◽  
Fixed Asset ◽  
Accounting Standard ◽  
Asset Value ◽  
Fixed Assets ◽  
Value Measurement

FASB and IASB have differences in setting the accounting standard for fixed asset. The FASB does not allow firms to restore the asset value that has been written down, while the IASB allow companies to recover the asset values that has been written down. These differences have distinct implication to depict the COVID-19 pandemic phenomenon and prevent earnings management that will affect the qualitative characteristics of the faithful representation. Therefore, this study aims to analyze the fixed asset accounting standards of U.S. GAAP or IFRS which is more optimal to improve the faithful representation in the case of the COVID-19 pandemic and earnings management. Based on an analysis of the theory and literature review, this study conclude that the fixed assets accounting standard of IFRS is more optimal to represent the COVID-19 pandemic faithfully than that of U.S. GAAP. This is because IFRS allows for recovery of impairment losses. In addition, the fixed asset accounting standard of U.S. GAAP is more optimal than that of IFRS for preventing earnings management so as to improve the quality of faithful representation of the fixed asset value. This is because the fair value measurement for fixed assets involves estimation and subjectivity of the asset appraiser enhancing the possibility of earnings management.

Federal Accounting Standard 6/2020: Disputable issues of using some aspects of depreciation of fixed assets

2021 ◽  
Vol 22 (5) ◽  
pp. 548-574
Author(s):  
Ekaterina K. KOPYLOVA ◽  
Tat'yana I. KOPYLOVA
Keyword(s):  
Economic Benefits ◽  
Value Assessment ◽  
Fixed Asset ◽  
Accounting Standard ◽  
Accounting Practice ◽  
Firm Objectives ◽  
Fixed Assets ◽  
The Subject ◽  
Useful Life ◽  
Depreciation Methods

Subject. Currently, it is still important to choose how depreciation is charged, since this exactly reflects how future economic benefits of fixed assets are allocated over time. Amendments to the Russian laws on the use of Federal Accounting Standard (FAS) 6/2020 Fixed Assets helped update not only the procedure, but also the terminology. This totally influence how depreciation is recognized as per accounting policies of a firm. Objectives. The study focuses on the specifics of regulation and accounting for depreciation of fixed assets. Methods. The methodology includes the methods of analysis, systematization, comparison and generalization of regulatory sources and scientific literature on the subject. Results. We conducted the critical analysis of FAS 6/2020 in terms of using depreciation aspects, which relate to the useful life of a fixed asset, its drop value and depreciation method. Having analyzed regulatory documents, we summarized requirements to the useful life of fixed assets. Conclusions and Relevance. Practical issues of the drop value assessment should be resolved with respect to international practices. We also suggest non-governmental regulators of the Russian accounting practice should outline guidelines for the assessment of the drop value. There are still pending issues concerning the calculation of depreciation when a fixed asset is not used each day of a month. The depreciation calculation method should be stipulated in accounting policies, like aspects of revising depreciation elements. Considering the use of FAS 6/2020, accounting policies should be updated to formulate the content of changed aspects. The findings may prove useful to accountants when updating accounting policies on the use of depreciation methods in 2022 and onward.

scholarly journals ANALISIS PENGELOLAAN ASET TETAP DAERAH PADA DINAS PENGELOLAAN KEUANGAN ASET DAERAH (DPKAD) PROVINSI ACEH

2019 ◽  
Vol 4 (2) ◽  
pp. 215-236
Author(s):  
Esduo Ramadhano Labasido ◽  
Darwanis Darwanis
Keyword(s):  
Asset Management ◽  
Descriptive Analysis ◽  
Balance Sheet ◽  
Local Property ◽  
Financial Statements ◽  
Property Management ◽  
Fixed Asset ◽  
Fixed Assets ◽  
Maintenance Requirements ◽  
Management Cycle

Fixed assets is one of the elements that must be managed properly in order to produce reliable information in the financial statements region. Orderly management of regional property (fixed assets) carries a significant effect on the perfection of regional balance sheet presentation. The purpose of this study to determine the suitability of fixed asset management at the Department of Finance and Asset Management Revenue Region (DPKAD) Aceh with Regulation of the Minister of the Interior 19 of 2016 visits from local property management cycle is applied as well as the completeness of the document source. The method used is a qualitative with descriptive analysis techniques. The results showed that DPPKAD Aceh as maid manager has implemented 10 cycles in the management of fixed assets. From 14 document source needed only 13 documents are there, so that the management of fixed assets in DPPKAD Aceh with Regulation 19 of 2016 has not been fully fit. Preferably, DPPKAD Aceh perform better coordination with all SKPDs as users/ parties responsible in making List of Regional Property Maintenance Requirements (DKPBMD) and List of Results Maintenance Goods as a form of compliance with applicable regulations.

scholarly journals ANALISIS PENGAKUAN ASET TETAP BERDASARKAN PSAK DI CV GERONIMO AIRMADIDI

2021 ◽  
pp. 45-55
Author(s):  
Yudi Lamandoke ◽  
Tinneke E.M. Sumual ◽  
Frida M Sumual
Keyword(s):  
Data Analysis ◽  
Accounting Standards ◽  
The State ◽  
Financial Accounting ◽  
Fixed Asset ◽  
Accounting Standard ◽  
North Sulawesi ◽  
Fixed Assets ◽  
Qualitative Technique ◽  
A Company

Abstrak CV Geronimo perusahaan perseroan komoditer yang bergerak dibidang jasa di Kelurahan Sarongsong 1, Kecamatan Airmadidi, Kabupaten Minahasa Utara, Sulawesi Utara. Penelitian ini bertujuan untuk mengetahui apakah pengakuan aset tetap di CV Geronimo sudah sesuai dengan pernyataan standar akuntansi keuangan  no.16 tentang aset tetap. Teknik analisis data yang digunakan adalah analisis deskritif kualitatif, yaitu metode yang bertujuan untuk menggambarkan keadaan perusahaan berdasarkan kenyataan yang sesungguhnya terjadi disuatu perusahaan. Hasil penelitian menunjukkan bahwa pengakuan aset tetap di kantor CV Geronimo  sesuai dengan pernyataan standar akuntansi keuangan no 16.   Kata kunci: pengakuan, akuntansi aset tetap, pernyataan standar akuntansi keuangan no. 16   Abstract CV Geronimo is a commodity company engaged services at Sarongsong 1 Village, Airmadidi District, North Minahasa Regency, North Sulawesi. This study aims to determine whether the recognition of fixed assets at CV Geronimo by following the statement of financial accounting standards No.16 regarding fixed assets. The data analysis is using descriptive qualitative technique analysis, which is a method that aims to describe the state of the company based on the fact that occur in a company. The results showed that the recognition of fixed assets in the Cv Geronimo office was by following  the statement of financial accounting standards No. 16. Keywords: recognition, fixed asset accounting, financial accounting standard statement no. 16  

scholarly journals ANALISIS PENERAPAN AKUNTANSI ASET TETAP PADA KPPBC TIPE MADYA PABEAN C KANTOR POS PASAR BARU

2021 ◽  
Vol 2 (2) ◽  
pp. 53-70
Author(s):  
Deni Herdiyana ◽  
Muhammad Luqman Rokhim
Keyword(s):  
Balance Sheet ◽  
Field Studies ◽  
Financial Statements ◽  
Fiscal Year ◽  
Post Office ◽  
Fixed Asset ◽  
Financial Reports ◽  
Government Accounting ◽  
Fixed Assets ◽  
Collection Methods

This research is conducted to analyze the the fixed asset accounting policies at KPPBC Type Madya Pabean C Pasar Baru Post Office for financial reports for the 2017-2018 fiscal year. The research method used is through a qualitative approach. To support this research, data collection methods were carried out consisting of literature studies, field studies and interviews. The results of the study can be concluded that the application of fixed asset accounting at KPPBC TMP C Pasar Baru Post Office as a whole is in accordance with the fixed asset accounting policy, however there is a presentation and disclosure of fixed assets in the balance sheet and notes on financial statements that are still not in accordance with government accounting standards and statutory regulations.     Penelitian ini dilakukan untuk menganalisa penerapan kebijakan akuntansi aset tetap pada KPPBC Tipe Madya Pabean C Kantor Pos Pasar Baru untuk laporan keuangan periode tahun anggaran 2017-2018. Metode penelitian yang digunakan adalah melalui pendekatan kualitatif. Untuk mendukung penelitian tersebut, dilakukan metode pengumpulan data yang terdiri dari studi literatur, studi lapangan, dan wawancara. Hasil penelitian dapat disimpulkan bahwa penerapan akuntansi aset tetap pada KPPBC TMP C Kantor Pos Pasar Baru secara keseluruhan telah sesuai dengan kebijakan akuntansi aset tetap, namun masih terdapat penyajian dan pengungkapan aset tetap dalam neraca dan CaLK yang masih belum sesuai dengan standar akuntansi pemerintah dan peraturan perundang-undangan.

scholarly journals ANALISIS PENERAPAN PSAK NO. 16 TENTANG ASET TETAP PADA PT. BANK SULUTGO

2018 ◽  
Vol 14 (1) ◽  
Author(s):  
Natalia Punusingon ◽  
Harijanto Sabijono ◽  
Sintje Rondonuwu
Keyword(s):  
Descriptive Analysis ◽  
Accounting Standards ◽  
Financial Statements ◽  
Financial Accounting ◽  
Fixed Asset ◽  
Accounting Standard ◽  
Production Factors ◽  
Straight Line ◽  
Fixed Assets ◽  
Straight Line Method

In an operational company requires production factors to support the company in achieving its objectives. Of the several types of assets, there is one of the most important assets in supporting the company's operations, namely fixed assets. This study aims to find out that the company has implemented a fixed asset accounting policy that is appropriate and based on the Statement of Financial Accounting Standards (PSAK) no.16 in company activities. The method in this study is descriptive analysis method. In carrying out its accounting activities, PT. SulutGo Bank has referred to PSAK No. 16. In practice, companies distinguish types and ways of obtaining fixed assets with cash purchases or by establishing themselves, in depreciating fixed asset companies using the straight-line method and the declining balance method in accordance with applicable Accounting Standards, in terminating fixed assets whose useful lives has expired or is no longer used by removing assets from the register of ownership and releasing them through sales through auction. presentation and disclosure of assets in accordance with the pattern of financial standards and some information disclosed in financial statements. Keywords: fixed assets, SFAS no.16, financial statements, depreciating, financial accounting standard

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