Development of a methodological tool for internal control to increase the efficiency of use of fixed assets

Alsou Zakirova,Rashida Sungatullina,Evgenia Zaugarova,Guzaliya Klychova,Elena Klinova,V Kankhva

doi:10.1051/e3sconf/202125812011

Abstract

The basis of the material and technical base of the operation of enterprises are fixed assets. Therefore, the effective organization of accounting and internal control of operations with fixed assets is one of the important tasks facing the management of any enterprise. The purpose of the article consists in development of methodical toolkit of internal control for increase in efficiency of use of the fixed assets. For the development of theoretical bases the article develops the conceptual model of internal control of operations with the fixed assets, which is a logically interconnected system including basic elements of internal control such as purpose, objectives, functions, object, subject, tools, sources of information, regulatory framework, evidence collection, execution of audit results and development of recommendations. In order to improve methodological support, the working papers of internal control were developed in the article. The proposed working documents can be used to identify critical areas of accounting with a high level of risk and determine the means of control necessary to conduct control procedures; to assess the organization and functioning of internal control, the effectiveness of employees responsible for the safety of fixed assets; formation of the information base for management decisions; assessment of risks associated with the acquisition and use of fixed assets.

Highlights

The effective functioning of an enterprise in modern conditions, which consists in improving financial and economic indicators, increasing productivity, increasing the volume of products produced, works performed, services rendered, reducing their cost, involves the rational use of fixed assets [1,2,3].Fixed assets take part in the production process for a long time, transfer their value to the manufactured products in parts, but at the same time retain their natural form
One of the most effective tools to reduce the risks of errors in the accounting of facts of economic activity is internal control [13, 14]
To develop the theoretical foundations, we propose a conceptual model of internal control of operations with fixed assets developed by us (Fig. 1)

Summary

Introduction

The effective functioning of an enterprise in modern conditions, which consists in improving financial and economic indicators, increasing productivity, increasing the volume of products produced, works performed, services rendered, reducing their cost, involves the rational use of fixed assets [1,2,3].Fixed assets take part in the production process for a long time, transfer their value to the manufactured products in parts, but at the same time retain their natural form. Under the conditions of rapid scientific and technological progress, constant improvement of technology, creation of new high-performance types of equipment and mechanisms that replace old equipment, the issues concerning the terms of operation of fixed assets are becoming increasingly relevant. This is associated primarily with the need to comply with the principles of rationality in the implementation of capital investments in connection with the acquisition or creation of new objects of fixed assets [7,8,9]. At the same time there is a need to improve the quality of accounting information about the safety, receipt and disposal of fixed assets, provided to internal (owners, senior executive management) and external (investors, creditors, fiscal authorities) stakeholders [10,11,12].

Methods

Results

Discussion

Conclusion