Optimization of accounting for low-value current and non-current tangible assets: contemporary challenges and practical solutions

Abstract

Introduction. In the conditions of modern business, the optimization of the accounting of low-value current and non-current material assets is defined as a key strategic necessity. This work is aimed at the development and implementation of practical solutions for improving accounting processes, ensuring the efficiency and accuracy of financial management of the enterprise in the conditions of modern challenges and standards. The purpose of the work is to develop and implement effective strategies for optimizing the accounting of low-value current and non-current material assets in modern conditions. The research is aimed at studying the challenges associated with the implementation of accounting taking into account international and domestic standards, as well as at the development and implementation of practical solutions to optimize this process. The goal is to increase the efficiency of accounting, reduce costs and ensure the accuracy of the company's financial statements. Method (methodology). Scientific methods and approaches were used in the work, in particular, comparison of accounting standards and formalization of technological tasks. By analyzing international and domestic approaches to accounting for tangible assets and determining optimal accounting parameters, the methodology is aimed at introducing innovations, including automation and the use of the latest technologies, to effectively optimize accounting processes and ensure the accuracy of financial reporting. Results. The article considers modern aspects of accounting of low-value assets. The study shows that the methodology of accounting for low-value assets is controversial and needs further improvement. It is noted that now low-value assets are recognized as those whose value does not exceed 20,000 hryvnias. It is important to note that this value limit is not taken into account when classifying assets as МНМА (Low-value non-current material assets) and МШП (Low-value perishable items). The article highlights the theoretical and methodological aspects of accounting for low-value and perishable items, in particular evaluation, recognition and classification. A new depreciation policy is also proposed for non-current assets that are not fixed assets.