Change in the useful life of property, plant and equipment

2021 ◽  
pp. 14-24
Author(s):  
L.V. Sotnikova
Keyword(s):  
Fixed Assets ◽  
Useful Life

It has been possible to change the useful life of fixed assets in Russian accounting since 2008, when it became clear that the useful life is an estimated value in accordance with PBU 21/2008 “Changes in estimated values”. However, this was not widely accepted. In accordance with FSB 6/2020 “Fixed assets”, organizations will have to review the useful life annually. Changes in the estimated values are reflected in the accounting and reporting perspective. This article discusses the procedure for applying the prospective method to reflect the effects of changes in the useful life of fixed assets.

Accounting of the results of appraisal and revaluation of fixed assets

2021 ◽  
pp. 17-32
Author(s):  
R. A. Alborov ◽  
L. I. Khoruzhy ◽  
S. M. Kontsevaya ◽  
V. I. Khoruzhy
Keyword(s):  
Technical Aspects ◽  
Fixed Assets ◽  
Useful Life ◽  
Characteristic Features ◽  
Methodological Aspects

The article deals with the assessment and accounting of fixed assets. Disclosed are the methodological aspects of the assessment of fixed assets when they are recognized in accounting, as well as the assessment after recognition and revaluation of these means of labor. The characteristic features of fixed assets, criteria and prerequisites for determining their useful life have been sorted out. The classification of fixed assets for accounting purposes is proposed. The methods and technical aspects of the reflection of operations based on the results of the revaluation of fixed assets on the accounts have been substantiated.

scholarly journals PEMODELAN FORMULA MATEMATIK UNTUK MENENTUKAN NILAI BUKU AKTIVA TETAP DAN ALGORITMANYA DALAM BAHASA PEMROGRAMAN QUICK BASIC

2017 ◽  
Vol 11 (1) ◽  
pp. 136
Author(s):  
Yudha Herlambang
Keyword(s):  
Conventional Method ◽  
Mathematical Formulation ◽  
First Year ◽  
Computer Language ◽  
Book Value ◽  
Final Value ◽  
Basic Software ◽  
Fixed Assets ◽  
Useful Life ◽  
Accounting Principle

According to General Accepted Accounting Priciples (GAAP), we realize that Fix Assets have been used during periodic useful live which be allocated for cost was called Deppreciation Cost .For the Fixed Assets which be depreciated will result the final Value of the Assets mentioned Book Value. The Book Value of Fix Assets in the first year was called the Historical Cost.The Book Value in each periodcan be calculated by using conventional method, we can make the tabulation chronologically until the end of useful life.  In this paper, the author will design the mathematical formulation for determining the Book Value Directly at the year-t or Book Value Equation referred  to the function t(time) without tabulation process, for each depreciation method used in Accounting Principle .In other side, the author will also design the programming and algorithm in Computer Language by using Quick Basic Software. And the last the author will test the validity of program and mathematic formulation by comparing the result with the result of conventional method (tabulation method).

scholarly journals IPTEKS PENGENDALIAN INTERN ASET TETAP PADA PT. LUMBUNG BERKAT INDONESIA

2018 ◽  
Vol 2 (1) ◽  
Author(s):  
Jesella Lourina Makaluas ◽  
Winston Pontoh
Keyword(s):  
Internal Control ◽  
Financial Statements ◽  
Internal Controls ◽  
Audit Committees ◽  
Productive Capacity ◽  
Control Environment ◽  
Related Information ◽  
Fixed Assets ◽  
Useful Life ◽  
A Company

PT Lumbung Berkat Indonesia, as a company entity engaged in construction, of course, this company has various types of fixed assets. The Company's fixed assets should be secured by means of internal controls of fixed assets that will oversee, control costs incurred to acquire fixed assets, increase or extend the fixed asset's useful life and increase operational contribution and productive capacity of fixed assets in order to safeguard the company's property. Based on the research that has been done at PT Lumbung Berkat Indonesia and the existing discussion, the conclusion that can be taken is that the internal control of fixed assets will run efficiently if the points that exist in the elements of control environment, risk assessment, control activities, related information , and monitoring has been well executed amongst companies to perform physical matching of fixed assets, appropriate division of functions and responsibilities, separating expenditures of income and expenses, following insurance against fixed assets, creating audit committees and implementing the abolition and disposal of fixed assets. Suggestions for better companies to explore the knowledge and application of internal control of good fixed assets for corporate activities to run effectively and efficiently and the presentation of financial statements and information about the company's fixed assets is accurate and reliable.Keywords: Internal Control, Fixed Assets

scholarly journals PEMODELAN FORMULA MATEMATIK UNTUK MENENTUKAN NILAI BUKU AKTIVA TETAP DAN ALGORITMANYA DALAM BAHASA PEMROGRAMAN QUICK BASIC

2018 ◽  
Vol 11 (1) ◽  
Author(s):  
Yudha Herlambang, SE., Ak., ST., MT.
Keyword(s):  
Conventional Method ◽  
Mathematical Formulation ◽  
First Year ◽  
Computer Language ◽  
Book Value ◽  
Final Value ◽  
Basic Software ◽  
Fixed Assets ◽  
Useful Life ◽  
Accounting Principle

According to General Accepted Accounting Priciples (GAAP), we realize that Fix Assets have been used during periodic useful live which be allocated for cost was called Deppreciation Cost .For the Fixed Assets which be depreciated will result the final Value of the Assets mentioned Book Value. The Book Value of Fix Assets in the first year was called the Historical Cost.The Book Value in each periodcan be calculated by using conventional method, we can make the tabulation chronologically until the end of useful life. In this paper, the author will design the mathematical formulation for determining the Book Value Directly at the year-t or Book Value Equation referred  to the function t(time) without tabulation process, for each depreciation method used in Accounting Principle .In other side, the author will also design the programming and algorithm in Computer Language by using Quick Basic Software. And the last the author will test the validity of program and mathematic formulation by comparing the result with the result of conventional method (tabulation method).

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 IPTEKS PENGENDALIAN INTERN ASET TETAP FISKAL PADA PT. PLN (PERSERO) UNIT INDUK WILAYAH SULUTTENGGO

2018 ◽  
Vol 2 (02) ◽  
Author(s):  
Jordy Sinjal ◽  
Treesje Runtu
Keyword(s):  
Internal Control ◽  
Employee Performance ◽  
Social Mission ◽  
Fixed Assets ◽  
Useful Life ◽  
The Government ◽  
A Company

PT. PLN (Persero) is stated-owned enterprises of Indonesia that engaged in electricity aspect. PT. PLN (Persero) is demanded by the government to increase social mission and seek profits. The main objective of PT. PLN (Persero) is to distribute electricity to the Indonesian society equally. many buildings, machinery, property and administrative equipment owned by PT. PLN (Persero) must be managed appropriately. Therefore, it takes internal control of fixed assets well to improve employee performance and productivity. A well internal control is needed to keep the fixed assets of a company or entity maintaining the useful life of fixed assets to ease the company operations. Based on the observations of PT. PLN (Persero), internal control of fixed assets already effective and efficient, but there are few things that needs to be concerned such as the completeness of documents and archiving. Archiving is really important for a company because archive is a copy of document made and accepted as a requirement to be fulfilled for administration material, or for material copies or material experience if there is a loss of the original archive.Keywords: Fixed Assets, Internal Control, Completeness of Documents, and Archiving

scholarly journals Evaluasi pelaksanaan belanja modal pada Dinas Perindustrian dan Perdagangan Daerah Provinsi Sulawesi Utara

2020 ◽  
Vol 2 (1) ◽  
pp. 23
Author(s):  
Daiyana Natalia Balo ◽  
Hendrik Manossoh ◽  
Jessy D. L Warongan
Keyword(s):  
Capital Expenditure ◽  
Descriptive Analysis ◽  
Fiscal Year ◽  
Analysis Method ◽  
The North ◽  
North Sulawesi ◽  
Fixed Assets ◽  
Useful Life ◽  
Trade Office

Capital expenditure is a government activity that is to add fixed assets with a useful life of more than one fiscal year. Presidential Regulation Number 16 Year 2018 serves as a guideline for each agency as implementing capital expenditure activities. This study aims to evaluate whether the implementation of capital expenditure at the North Sulawesi Provincial Industry and Trade Office is in accordance with regulations. The method used in this research is descriptive analysis method. The results showed that the implementation of capital expenditure at the North Sulawesi Provincial Industry and Trade Office was in accordance with Presidential Regulation No. 16 of 2018 as a standard for implementing capital expenditure and was well planned.

scholarly journals IPTEKS PERLAKUAN AKUNTANSI TERHADAP PENGUKURAN ASET TETAP PADA KANTOR LURAH KLEAK

2018 ◽  
Vol 2 (02) ◽  
Author(s):  
Reinhard Valen Ipu ◽  
Sherly Pinatik
Keyword(s):  
Accounting Standards ◽  
Financial Accounting ◽  
Tangible Assets ◽  
Fixed Assets ◽  
Useful Life ◽  
Operational Activities ◽  
One Year ◽  
The Village ◽  
Office Equipment

Fixed assets are tangible assets owned by the company or agency in question not for sale, but to assist the operational activities of an agency and have a useful life of more than one year. The kleak village office has several supporting factors in conducting operational activities, one of which in the form of office equipment. This study aims to determine wherher the village office has measured fixed assets based on applicable financial accounting standards. Based on the data that the author obtained it can seen that the village office has not measured fixed assets in accordance with PSAK No. 16.Keywords : Measurement of fixed assets, PSAK No. 16

scholarly journals Penyusutan Aset Tetap Kenderaan Bermotor

2021 ◽  
Vol 4 (2) ◽  
pp. 197
Author(s):  
Julie Abdullah ◽  
Wahyudin Hasan ◽  
Azwar Djarangkala
Keyword(s):  
Asset Management ◽  
Government Regulation ◽  
Accounting Standards ◽  
Time Frame ◽  
Analysis Tool ◽  
Government Accounting ◽  
Fixed Assets ◽  
Useful Life ◽  
Quantitative Descriptive ◽  
Motorized Vehicles

Fixed assets of motorized vehicles have a relatively short useful life compared assets such as structures and buildings. Besides from that, this object is very prone to loss, damage, and constant depreciation. To minimize the risk in estimating depreciation of fixed assets on a time frame scale, good asset plan is necessary. The goal of this article is to find out which Bone Bolango Regency Financial and Asset Management Agency manages the depreciation of motorized vehicle in the financial statements. The analysis tool use the straight-line method to assess fixed assets, as well as the method used is quantitative descriptive, the aim of obtaining an objective picture of the implementation of depreciation of fixed assets in accordance with Government Regulation Number 71 of 2010 based on financial statement data period 2020. From the results of the research showed that In the activity of determining the value of BPKAD Bone Bolango district not yet in accordance with Government Accounting Standards No. 07 contained in Government Regulation Number 71 of 2010 concerning Government Accounting Standards. In principles of the accounting activity of depreciation of assets, primarily motorized vehicles, the activity of determining the useful life of assets and the depreciation of assets calculation activities of institutional motorized vehicle assets has matched PSAP number 7.

Depreciation of fixed assets in agricultural organizations: innovations in the context of the transition to FSBU 6/2020

2021 ◽  
pp. 18-28
Author(s):  
Olga Ivanovna Khairullina ◽  
Anastasia Nikolaevna Ryzhkova
Keyword(s):  
Assessment Methods ◽  
Advantages And Disadvantages ◽  
Initial Cost ◽  
Fixed Assets ◽  
Useful Life ◽  
Agricultural Organizations ◽  
Accounting Policy

In this article, depreciation is considered as a key element of innovation. It was found that the changes made by FSBU 6/2020 “Fixed Assets” affected all the key parameters for calculating depreciation: the initial cost of objects, useful life, subsequent assessment, methods of calculating depreciation. The options are proposed for making adjustments to the accounting policy, the advantages and disadvantages of possible options for calculating depreciation are identified. Transition options to the new standard are recommended.

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