Current Status and Enhancing Revaluation Capital Accounting
AbstractThe article covers the changes made to the Chart of Accounts and Instructions for its use concerning the accounting of non-current tangible and intangible assets and financial instruments revaluation (markdown). The concept and order of economic resources revaluation accounting have been substantiated, as well as its importance in bringing the book value of such objects to their fair value available in the active market. The focus has been made on the fact that the change of long-term nonfinancial assets objects value as a result of the revaluations depends on the institutional environment and the ability of individual institutions to control the order of assets valuation (revaluation) at the economic entities level. The appropriateness of vesting professional property evaluators with the exclusive right to determine the fair value of long-term fixed assets to be revaluated has been grounded. As to the expenses incurred as the payment for the services rendered by professional valuators from specialized agencies it has been proposed to identify them as the operation coordinating costs.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Institute of Accounting and Finance in its journal Accounting and Finance.
Volume (Year): (2014)
Issue (Month): 1 (March)
valuation; revaluation; revaluation capital; fair value; fixed assets; intangible assets; financial instruments; operation coordination costs;
Find related papers by JEL classification:
- M41 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Accounting
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Serhiy Ostapchuk).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.