The concept of the fair value of fixed assets in accounting practice

Abstract

The concept of fair value used in international financial valuation and accounting standards is now also widely used in domestic accounting practice. The object of the study is the federal accounting system. The subject of the study is fair value as a theoretical category of valuation of fixed assets within the framework of domestic accounting and valuation practice. The purpose of the study is to reveal the concept of fair value as a subject–conceptual category of accounting. Research objectives: 1. Theoretical and heuristic analysis of international and domestic standards; 2. Theoretical analysis of distinctive and characteristic features of fair value as a subject-conceptual category of accounting; 3. Formulation of objective and scientifically based research results. The research methodology is a subject-conceptual approach formed by general scientific accounting methods. The results of the study are presented in a summary tabular form, which identifies the types of transactions, the subject attribution of fair value depending on the type of transactions and the legal source (standard).