Assessment of the state of fixed assets of enterprises and organizations in the Arctic zone of the Russian Federation as a factor determining its sustainable development

Abstract

The analysis of the state of fixed assets is important for determining the production capabilities of the organization and strategic prospects of its development. The value of fixed assets determines the production capacity of the company, timely renewal of fixed assets increases their productivity and operational efficiency, while reducing the probability of losses caused by equipment failure as a result of systemic depreciation. Decrease in the rate of fixed assets reproduction leads to decline in production capacity and productivity level, increase in repair costs, decrease in the quality and competitiveness of products, reduction of income. The condition and degree of efficiency of fixed assets use affect the final results of economic activity of organizations of all forms of ownership and organizational and legal forms. The aim of this study is to assess the condition of fixed assets of enterprises and organizations in the territories of the regions included in the Arctic zone of the Russian Federation, since it is their availability and quality that is the basis for sustainable development and determines the available economic and production potential. Economic and statistical and comparative analysis were chosen as research methods. According to the results of the analysis, it was found out that the state of fixed assets in the Russian Federation as a whole is deteriorating, the measures taken to stimulate entrepreneurs to modernize production facilities, although caused some positive changes, but the expected results have not been achieved. The described situation is typical for the whole territory of the country, but it is especially relevant for the Arctic zone, where the realization of large-scale production and infrastructure projects is planned in the near future. To solve this problem will require joint efforts and interest in the result not only from the state, but also from business.