ORGANIZATION OF ACCOUNTING OF FIXED ASSETS OF ENTERPRISES AND PUBLIC SECTOR ENTERPRISES: DIRECTIONS OF IMPROVEMENT

Abstract

The article examines the elements of the organization of accounting of fixed  assets. The availability of tangible assets (initial cost, depreciation and depreciation rate) by types of economic activity and types of assets in Ukraine at the end of 2020 is analyzed. It is established that the lowest initial cost of tangible assets is observed in the provision of other services. The highest degree of depreciation of tangible assets is characterized by activities in the field of administrative and support services (86.4%), industry (63.9%). All other types of economic activity are characterized by  indicators that exceed 37% of wear, except for arts, sports, entertainment and recreation (only 5.2%). The expediency of updating the composition of fixed assets for many types of economic activity is determined. The identification of the essence of fixed assets is considered, the own definition of fixed assets is offered. It was found that there is no unity in the regulations on the nature of fixed assets. The economic essence of the concept of "fixed funds" is outlined and the inexpediency of its use is proved. The classification of fixed assets of public sector entities and enterprises is carried out. It is established that 16 groups of fixed assets and other non-current assets are allocated in the taxation system. The main document on the organization of accounting is the accounting policy of the public sector, which specifies the basic rules and methods of accounting. A list of mandatory components of the order (or regulation) in terms of fixed assets is proposed. The correspondence of the abolished standard forms of primary accounting of fixed assets of enterprises and the current forms of public sector entities is considered.It is determined that the organization of fixed assets accounting is important in the general accounting system, because they are important in the performance of works and provision of services. It is established that the list of standard forms of primary accounting documentation for the accounting of fixed assets of public sector entities is broader and more detailed than the abolished standard forms for enterprises. The main directions for improving the level of accounting optimization are identified as follows: introduction of additional indicators in the form of primary documentation in order to increase the informativeness of documents; application of economically justified method of depreciation; introduction of disciplinary liability in case of improper accounting of fixed assets; increasing the responsibility of financially responsible persons; formation of the chart of accounts with the nomenclature of accounts adapted to the business entity.