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.

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.

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.

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.

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.

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.

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.

scholarly journals Recognition Specifics of Public Sector Organizations’ Financial Insolvency

2021 ◽  
pp. 121-130
Author(s):  
Svetlana Solodova ◽  
◽  
Yaroslava Yazynina ◽  
Keyword(s):  
Public Sector ◽  
Legal Status ◽  
Theoretical Research ◽  
Russian Science ◽  
State Budget ◽  
The Public ◽  
Public Sector Organizations ◽  
Analysis And Synthesis ◽  
Scientific Papers ◽  
Commercial Organizations

The current state of the Russian economy is characterized by the economic entities’ unstable financial position. Under the influence of various internal and external factors, an entity may not have the opportunities to repay its current payables, i.e. to be financially insolvent. In recent years, it has become increasingly obvious that insolvency can be found not only in commercial organizations, but also institutions operating in the public sector of the economy, and seemingly protected by fairly stable sources of financing. The purpose of the work is to study the manifestation specifics of the public sector organizations’ financial insolvency. The paper uses the methods of theoretical research (abstraction, analysis and synthesis, mental modeling), as well as the methods of empirical research (observation, comparison, measurement). Based on the study of scientific papers published by Russian economists, alternative approaches to the concept of “bankruptcy” that take place in Russian science are analyzed; the nature of this phenomenon is studied. The article describes the types of bankruptcy of the organization, as provided by the system of normative regulation of the state, and defined by the researchers of bankruptcy as an economic phenomenon. The authors carried out a comparative analysis of the economic conditions of bankruptcy procedures of financial insolvency recognition for commercial organizations and public sector organizations. The relationship between the concepts of “financial insolvency” and “inefficiency” of a public (municipal) institution is revealed. The influence of the legal status of the institution (state, budget, autonomous) on the decision-making procedure for its liquidation is revealed. Possible reasons for initiation of a public (municipal) institution liquidation by state bodies are indicated. The main (key) stages of the public (municipal) institution liquidation procedure are determined. The current problems of legislation application on insolvency (bankruptcy) in relation to public (municipal) institutions are revealed. The measures for their elimination are suggested.

Non-produced assets: The particularities of recognition and measurement at public sector organizations

2020 ◽  
Vol 23 (9) ◽  
pp. 981-995 ◽  
Author(s):  
S.V. Kozmenkova ◽  
T.S. Maslova
Keyword(s):  
Comparative Analysis ◽  
Public Sector ◽  
Scientific Community ◽  
Theory And Practice ◽  
Accounting Standard ◽  
Public Sector Organizations ◽  
Accounting Theory ◽  
Evaluation Measurement ◽  
Accounting Procedure

Subject. This article examines the Federal Accounting Standard Non-Produced Assets, which will be implemented from 2021. Objectives. The article aims to analyze the structure of non-produced assets, their measurement and accounting procedure, and recognition. Methods. For the study, we used a comparative analysis and the methods of induction and deduction, and classification. Results. Based on an analysis of the provisions of the Non-Produced Assets Standard for public sector organizations, the article identifies problematic issues of valuation and measurement of these assets. It suggests returning to the principle of separate accounting of current and capital outlays in the subsequent assessment of non-produced assets for reconstruction and modernization costs. Conclusions and Relevance. Non-produced assets are a new object of budgetary accounting. In order to properly and reasonably apply the provisions of the Non-Produced Assets Standard in practice, we believe that detailed explanations and guidance on these accounting facilities recognition, evaluation, measurement, accounting and reporting are needed to be presented by both the regulator and the scientific community and practitioners. The results of the study can be applied in budgetary accounting theory and practice.

Federal accounting standard for public finance “Intangible assets”: compliance with current legislation and IFRS OS

2020 ◽  
pp. 12-18
Author(s):  
Marina Aleynikova
Keyword(s):  
Public Finance ◽  
Public Sector ◽  
Financial Reporting ◽  
Intangible Assets ◽  
Reporting Standard ◽  
Accounting Standard ◽  
Public Finances ◽  
New Approaches ◽  
Public Sector Organizations

Starting from January 1, 2021, the Federal accounting standard for public finances “Intangible assets” is being introduced. The article focuses on the use of new approaches by public sector organizations to organize accounting (budget) accounting of intangible assets, as well as their correlation with the requirements of current legislation and the international public sector financial reporting standard IFRS OS 31 “Intangible assets”.

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