The economic substance of the fixed assets and their identification in accounting
LESNIAK V.O.
Senior Lecturer, Department audit, Kyiv National Economic University named after Vadym Hetman
Senior Lecturer, Department audit, Kyiv National Economic University named after Vadym Hetman
TERRA ECONOMICUS, 2013, Vol. 11 (no. 1.2),
p. 54-59
The article is devoted to the economic substance of the fixed assets as the basis for the economy of the industrial enterprise. Much attention is given to the disclosure of controversial issues interpretations of the term «fixed assets». It is spoken in detail about criteria and approaches to the definition of the property and equipment, fixed assets and fixed capital. The present article deals with the definition and identification of fixed assets in the existing legal acts and regulations on accounting. In the article the author indicated the distinction related but essentially different concepts of property and equipment, fixed assets and fixed capital.
Keywords: property and equipment; fixed assets; fixed capital; the economic substance; identification; accounting; industrial enterprise
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Publisher: Southern Federal University
Founder: Southern Federal University
ISSN: 2073-6606
Founder: Southern Federal University
ISSN: 2073-6606