Depreciation of property, plant and equipment in the new Federal Accounting Standard for non-public sector organizations

2021 ◽  
pp. 20-30
Author(s):  
Emilia Sergeevna Druzhilovskaya
Keyword(s):  
Public Sector ◽  
Method Comparison ◽  
Accounting Standards ◽  
Healthcare Organizations ◽  
Accounting Standard ◽  
Public Sector Organizations ◽  
Analysis And Synthesis ◽  
Subsequent Measurement ◽  
Grouping Method ◽  
Method Analysis

The new accounting requirements for property, plant and equipment are undoubtedly relevant for Russian organizations. In previous articles, we analyzed the rules for the initial and subsequent measurement of property, plant and equipment provided for by the new Federal Accounting Standards (FAS) for non-public sector organizations (including healthcare organizations). This article examines the requirements for depreciation of the property, plant and equipment, established by FAS 6/2020 “Property, plant and equipment” and put into effect for mandatory application already from January 1 of the next year. Research methods included such methods as grouping method, comparison, analogy method, analysis and synthesis, systemic and logical approaches. As a result of the research carried out, the article identifies the most important innovations of this FAS in relation to the depreciation of property, plant and equipment of non-public sector organizations, including healthcare organizations in this sector, identifies problematic issues in the above area and substantiates proposals for their solution.

Accounting for impairment of property, plant and equipment of non-public sector organizations

2021 ◽  
pp. 25-37
Author(s):  
Emilia Sergeevna Druzhilovskaya
Keyword(s):  
Public Sector ◽  
Systematic Approach ◽  
Healthcare Organizations ◽  
Accounting Standard ◽  
Analogy Method ◽  
Public Sector Organizations ◽  
Analysis And Synthesis ◽  
The Subject ◽  
Grouping Method ◽  
Method Analysis

The new Federal Accounting Standard (FAS) 6/2020 “Property, Plant and Equipment”, which will come into force in 2022, requires non-public sector organizations (including healthcare organizations in this sector) to take into account the impairment of property, plant and equipment. Such accounting is qualitatively new for these organizations. Consequently, it is very important to conduct a separate research of the rules for determining and recording the impairment of property, plant and equipment of non-public sector organizations. This research is the subject of this article. As research methods, the following were used: grouping method, analysis and synthesis, comparison, analogy method, logical approach, systematic approach. As a result of the research carried out, the article focuses on the fundamental issues of accounting for the impairment of the property, plant and equipment of non-public sector organizations (including healthcare organizations in this sector), identifies the most important problematic issues in this area and presents proposals for their solution.

Subsequent measurement of property, plant and equipment in the new Federal Accounting Standard for non-public sector organizations

2021 ◽  
pp. 21-30
Author(s):  
Emilia Sergeevna Druzhilovskaya
Keyword(s):  
Public Sector ◽  
Accounting Standards ◽  
Previous Article ◽  
Healthcare Organizations ◽  
Accounting Standard ◽  
Public Sector Organizations ◽  
Subsequent Measurement ◽  
Initial Measurement

In the previous article, we examined the rules for the initial measurement of property, plant and equipment established by the new Federal Accounting Standards (FAS) for non-public sector organizations, including healthcare organizations. This article analyzes the regulations for the subsequent measurement of these assets contained in the new FAS 6/2020 “Property, plant and equipment” and coming into force from 2022. At the same time, the article examines the most important innovations of this FAS in the field of subsequent measurement of property, plant and equipment in the accounting of non-public sector organizations (including healthcare organizations), identifies problematic issues in this area and provides recommendations for their solution.

Fair value measurement of inventories and property, plant and equipment in the Russian accounting of organizations that are not budgetary sphere organizations: scope and features of formation

2021 ◽  
pp. 6-15
Author(s):  
Emilia Sergeevna Druzhilovskaya
Keyword(s):  
Method Comparison ◽  
Fair Value ◽  
Healthcare Organizations ◽  
Accounting Standard ◽  
Broad Application ◽  
Fair Value Measurement ◽  
Analysis And Synthesis ◽  
Grouping Method ◽  
Value Measurement ◽  
First Time

The Federal Accounting Standard (FAS) 5/2019 “Inventories” provides for a fairly broad application of fair value measurement of the inventories of non-budgetary sphere organizations (including healthcare organizations). An even more active use of fair value is suggested by FAS 6/2020 for the measurement of property, plant and equipment of the aforementioned organizations. The specified value is entered into the domestic accounting of the listed assets for the first time and is unusual for many Russian accountants. All this indicates the relevance of a detailed study of issues related to the fair value measurement of inventories and property, plant and equipment of the aforementioned organizations. In this article, the scope and features of the formation of this measurement are investigated. Other issues related to this measurement will be analyzed by us in the next article. The research methods were analysis and synthesis, grouping method, comparison, analogy method, logical approach, systemic approach. As a result of the research carried out, the article defines the scope of the fair value measurement of inventories and property, plant and equipment in the Russian accounting of organizations that are not budgetary sphere organizations, analyzes the features of the formation of such a measurement of these assets, identifies the most important problematic issues in this area and identifies ways to solve them.

Valuation techniques and hierarchy of fair value of inventories and property, plant and equipment in the Russian accounting of organizations that are not budgetary sphere organizations

2021 ◽  
pp. 13-25
Author(s):  
Emilia Sergeevna Druzhilovskaya
Keyword(s):  
Research Methods ◽  
Method Comparison ◽  
Accounting Standards ◽  
Fair Value ◽  
Capital Investments ◽  
Healthcare Organizations ◽  
Analogy Method ◽  
Logical Approach ◽  
Grouping Method ◽  
First Time

In the previous article, we analyzed the scope and features of the formation of fair value, which is entered into the Russian accounting of inventories and property, plant and equipment of non-budgetary sphere organizations (including healthcare organizations) thanks to the Federal Accounting Standards (FAS) 5/2019 “Inventories”, 6/2020 “Property, Plant and Equipment”, and 26/2020 “Capital Investments”. This article examines the valuation techniques and hierarchy of fair value of these assets. This study is all the more relevant since the fair value is entered into the Russian accounting of inventories and property, plant and equipment of non-budgetary organizations for the first time and it is still quite unusual for many domestic accountants. Analysis, synthesis, grouping method, comparison, analogy method, logical approach, and systemic approach were used as research methods. As a result of the research carried out, the article analyzes the fundamental issues in the field of valuation techniques and hierarchy of fair value of inventories and property, plant and equipment of non-budgetary sphere organizations (including healthcare organizations), identifies the most important problems in this area and presents recommendations for their solution.

Subsequent measurement of intangible assets in the new federal accounting standard for public sector organizations

2020 ◽  
pp. 4-11
Author(s):  
Emilia Druzhilovskaya
Keyword(s):  
Public Health ◽  
Public Sector ◽  
Intangible Assets ◽  
Health Organizations ◽  
Accounting Standard ◽  
Regulatory Documents ◽  
Public Health Organizations ◽  
Public Sector Organizations ◽  
Subsequent Measurement

This article examines the regulations for the subsequent evaluation of intangible assets established by the new federal accounting standard for public sector organizations (including public health organizations in this sector). These regulations are analyzed in conjunction with the requirements of other regulatory documents on accounting. The author identifies the main problematic issues associated with the subsequent valuation of intangible assets of public sector organizations (including health organizations of the specified sector) and substantiates proposals for their solution.

Rules of measurement after recognition of inventories in the new Federal Accounting Standard for non-public sector organizations

2020 ◽  
pp. 16-23
Author(s):  
Emilia Sergeevna Druzhilovskaya
Keyword(s):  
Public Sector ◽  
Previous Article ◽  
Healthcare Organizations ◽  
Accounting Standard ◽  
Public Sector Organizations ◽  
Federal Standard

In a previous article, we analyzed the measurement requirements for the recognition of inventories in the Federal Accounting Standard, which will come into force in 2021, for non-public sector organizations, including healthcare organizations in this sector. In this article, we investigate the rules of measurement after recognition of inventories established in the above Federal Standard. In this article, we analyze the most important innovations of this Federal Standard in relation to the measurement after recognition of the above assets of non-public sector organizations (including healthcare organizations of this sector), identify the main issues in this area and provide proposals for their solution.

Initial measurement of property, plant and equipment in the new Federal Accounting Standards for non-public sector organizations

2021 ◽  
pp. 27-34
Author(s):  
Emilia Sergeevna Druzhilovskaya
Keyword(s):  
Public Sector ◽  
Accounting Standards ◽  
Capital Investments ◽  
Healthcare Organizations ◽  
Fixed Assets ◽  
Public Sector Organizations ◽  
The Russian Federation ◽  
Ministry Of Finance ◽  
Methodological Guidelines ◽  
Initial Measurement

This article analyzes the regulations for the initial measurement of property, plant and equipment in the recently approved by the Ministry of Finance of the Russian Federation Federal Accounting Standards (FAS) of non-public sector organizations, including healthcare organizations in this sector. These standards are FAS 6/2020 “Property, plant and equipment” and FAS 26/2020 “Capital investments”. These standards come into force in 2022 and replace PA 6/01 and Methodological Guidelines for Accounting for Fixed Assets. The article analyzes the most significant innovations of these FASs in relation to the initial measurement of property, plant and equipment in the accounting of non-public sector organizations (including healthcare organizations), identifies the main problematic issues in this area and presents proposals for their solution.

Modern features of accounting for borrowing costs

2021 ◽  
pp. 34-41
Author(s):  
E.S. Druzhilovskaya
Keyword(s):  
Method Comparison ◽  
Accounting Standard ◽  
Analogy Method ◽  
Borrowing Costs ◽  
Wide Range ◽  
Analysis And Synthesis ◽  
Federal Standard ◽  
Accounting Rules ◽  
Grouping Method ◽  
Education Process

Accounting for borrowing costs is undoubtedly relevant for many modern organizations. It should be noted that from this year a new federal public finance accounting standard (FAS PF) “Borrowing costs” came into force. This standard establishes updated accounting rules for borrowing costs for state (municipal) budgetary and autonomous institutions (including healthcare institutions). These rules are analyzed in this article. The research methods were analysis and synthesis, grouping method, comparison, analogy method, logical approach, systemic approach. On the basis of the research carried out, the article systematizes the types and definitions of borrowing costs provided for by the above-named federal standard. As a result, the author presents a categorical apparatus in the indicated area. In addition, the article analyzes the most important features of accounting for borrowing costs and provides examples that explain these features. The results of the study can be useful to a wide range of readers interested in the problems of modern accounting, including accounting for borrowing costs of state (municipal) budgetary and autonomous institutions (in particular, healthcare institutions), and can also be applied in the practical work of the accounting departments of these institutions and in higher education process.

Initial measurement of inventories in the new Federal Accounting Standard for non-public sector organizations

2020 ◽  
pp. 15-23
Author(s):  
Emilia Sergeevna Druzhilovskaya
Keyword(s):  
Public Sector ◽  
Healthcare Organizations ◽  
Accounting Standard ◽  
Material Production ◽  
Work In Progress ◽  
Public Sector Organizations ◽  
Federal Standard ◽  
Initial Measurement

This article analyzes the measurement rules for the recognition of inventories in the new Federal Accounting Standard for non-public sector organizations, including healthcare organizations in this sector. This standard comes into force in 2021 and, unlike RA 5/01, applies not only to accounting (including measurement) of material production inventories, but also to accounting (including measurement) of work in progress. The article examines the main innovations of the above-mentioned Federal Standard in relation to measurement when recognizing inventories, identifies the most important problematic issues in this area and provides recommendations for their solution.

scholarly journals Perception of Government Accountants on Current Public Sector Accounting Practices and Implementation of Public Sector Accounting Standards in the Sri Lanka

2019 ◽  
Vol 11 (1) ◽  
pp. 76
Author(s):  
Vickneswaran Anojan
Keyword(s):  
Public Sector ◽  
Sri Lanka ◽  
Public Expenditure ◽  
Accounting Standards ◽  
The Public ◽  
Reporting Practices ◽  
Public Sector Organizations ◽  
Public Sector Accounting ◽  
Accrual Basis ◽  
Assets Management

The main aim of the study is to find out the perception of government accountants on current public sector accounting practices and implementation of public sector accounting standards in the Sri Lanka. Public sector accounting practices involve with public expenditure, budget preparation, maintain proper accounting records, assets management, public financial management and provide reports on the public expenditure and revenue. Most of the public sector organizations do not prepare final accounts on accrual basis in the Sri Lanka. Primary data used in this study which data collected from government accountants in Sri Lanka. Mean analysis confirmed that there is moderate level of public sector accounting practices and implementation of public sector accounting standards in the Sri Lanka. Correlation analysis confirmed that there is significant relationship between public sector accounting practices and implementation of public sector accounting standards. Implementation of public sector accounting standards are positively impact on the public sector’s financial reporting practices and assets management practices in the Sri Lanka. Also below 23 percentage of public sector organizations are preparing final accounts on accrual basis. More than 97 percentage government accountants have ability to prepare annual accounts on accrual basis. Government administrators, policy makers and professional institutions should motivate effective and efficient implementation of the public sector accounting standards which will lead to a healthy public sector accounting practices in Sri Lanka. 

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