Primary Accounting of Non-Current Assets Held for Sale


  • M. М. Shygun State Higher Educational Institution “Kyiv National Economic University named after Vadym Hetman”
  • N.O. Mychak State Higher Educational Institution “Kyiv National Economic University named after Vadym Hetman”
Keywords: non-current assets held for sale; recording; act about reclassification of non-current assets into non-current assets held for sale; order of disposal of non-current assets; contract on non-current assets sale

Abstract

The article is devoted to the study of the documentary support for operations with non-current assets held for sale. The importance of the study is determined by the fact that in the Ukrainian business accounting and recording practice, information about economic transactions with non-current assets held for sale is recorded in the forms approved for fixed and intangible assets that do not reflect all the aspects of accounting for non-current assets held for sale, which is inappropriate because it does not allow for their rational management and control. Despite the judiciousness of studies on recording of transactions with non-current assets, recording of transactions with non-current assets held for sale needs further studies because it is not sufficiently developed nowadays.

Absence of special documentary support for accounting of non-current assets held for sale is emphasized. The article’s aim is to develop recommendations for improving the documentary support for transactions with non-current assets held for sale taking into account the economic substance and legal specifics of such transactions.

The authors propose a form of the Act on reclassification of non-current assets into non-current assets held for sale, which can provides a substantiated documentary confirmation of the execution of such transactions. This form takes into consideration all the necessary information about recognition of an asset as one held for sale.

The authors’ recommendations are given. In order to improve the recording of transactions with non-current assets held for sale, the primary documents should be issued not only at the moment of such assets reclassification, but also prior to their reclassification from non-current assets into non-current assets held for sale, and in the period of holding them for sale till the moment of transfer to the buyers.

Downloads

Download data is not yet available.

References

Nakaz MFU vid 05.03.2008 r. No 353 “Zminy do deiakykh normatyvno-pravovykh aktiv Ministerstva finansiv Ukrainy z bukhhalterskoho obliku” [Directive of the Ministry of Finance of Ukraine from 05.03.2008 No 353 “Amendments in some Regulatory Acts of the Ministry of Finance of Ukraine on Accouting”]. Retrieved from http://zakon5.rada.gov.ua/laws/show/z0225-08. [in Ukrainian].
2. Nakaz MFU vid 30.11.1999 r. No 291 “Pro zatverdzhennia Planu rakhunkiv bukhhalterskoho obliku ta Instruktsii pro yoho zastosuvannia” [Directive of the Ministry of Finance of Ukraine from 30.11.1999 No 291]. Retrieved from http://zakon5.rada.gov.ua/laws/show/z0892-99. [in Ukrainian].
3. Semehen L. H. (2010). Oblik inshykh neoborotnykh materialnykh aktyviv u budivelnykh pidpryiemstvakh : avtoref. dys. … kand. ekon. nauk : spets. 08.00.09 “Bukhhalterskyi oblik, analiz ta audyt (za vydamy ekonomichnoi diialnosti)” [The accounting of other non-current material assets in construction enterprises: abstract of thesis for PhD in economics: specialty 08.00.09 “Accounting, analysis and audit (by type of economic activity”]. Ternopil: TNEU [in Ukrainian].
4. Hnatiuk A. A. (2011). Shliakhy udoskonalennia dokumentalnoho oformlennia operatsii z neoborotnymy materialnymy aktyvamy [Ways to improve documenting of the transactions with non-current material assets]. Oblik i finansy APK – Accounting and finance in the Autonomous Republic of Crimea, 3, 57–62 [in Ukrainian].
5. Zharikova O. O. (2011). Pervynnyi oblik osnovnykh zasobiv: udoskonalennia typovykh form [Primary accounting of fixed assets: improvement of the standard forms]. Visnyk Sevastopolskoho natsionalnoho tekhnichnoho universytetu. Seriia: Ekonomika i finansy – Bulletin of Sevastopol National Technical University. Series: economics and finance, 116, 55–59 [in Ukrainian].
6. Reta M. V., Verheles Yu. S. (2014). Shliakhy udoskonalennia dokumentalnoho oformlennia operatsii z neoborotnymy aktyvamy [Ways to improve documenting of the transactions with non-current assets]. Proceedings from: 10-ta Mizhnar. nauk.-prakt. konf. “Doslidzhennia ta optymizatsiia ekonomichnykh protsesiv ‘Optymum–2014’” – The tenth International scientific and practical conference “Studies and optimization of economic processes ‘Optymum–2014’”. (pp. 7–11). Kharkiv: NTU “KhPI” [in Ukrainian].
7. Piskunova N. V., Chubar H. Ye., Piskunova K. S. (2013). Udoskonalennia dokumentalnoho oformlennia operatsii z nematerialnymy aktyvamy [Improving the documenting of transactions with intangible assets]. Ekonomika i orhanizatsiia upravlinnia – Economics and organization of management, 1(15)–2(16), 117–124 [in Ukrainian].
8. Starko I. Ye. (2011). Pervynnyi oblik nematerialnykh aktyviv: shliakhy udoskonalennia. Naukovyi visnyk Natsionalnoho lisotekhnichnoho universytetu Ukrainy, 21.2, 290–294.
9. Brazilii N. M. (2006). Dokumentalne oformlennia naiavnosti ta rukhu nematerialnykh aktyviv [Documenting of the availability and movement of intangible assets]. Visnyk Sumskoho derzhavnoho universytetu. Seriia: Ekonomika – Bulletin of Sumy State University. Series: Economics, 1, 148–154 [in Ukrainian].
10. Hus A. V. (2013). Pravove rehuliuvannia dokumentuvannia operatsii z nematerialnymy aktyvamy [Legal regulation of the documenting of the transaction with intangible assets]. Naukovyi visnyk Mizhnarodnoho humanitarnoho universytetu. Seriia: yurysprudentsiia – Scientific bulletin of International Humanitarian University. Series: Jurisprudence, 6/2, Vol. 2, 11–13 [in Ukrainian].
11. Pro bukhhalterskyi oblik ta finansovu zvitnist v Ukraini: zakon Ukrainy vid 16.07.1999 r. No 996-XIV. Vidomosti Verkhovnoi Rady Ukrainy [On accounting and financial reporting in Ukraine: the Law of Ukraine from 16.07.1999 r. No 996-XIV]. Kyiv: Verkhovna Rada of Ukraine, 1999. No 40. 8 October. Art. 365 [in Ukrainian].
12. Nakaz Ministerstva statystyky Ukrainy vid 29 hrudnia 1995 roku No 352 “Pro zatverdzhennia typovykh form pervynnoho obliku” [Directive of the Ministry of Statistics of Ukraine from 1995 No 352 “On approval of the standard forms for primary recording]. Retrieved from http://sfs.gov.ua/zakonodavstvo/podatkove-zakonodavstvo/normativno-pravovi-akti-z-pitan-kpr/nakazi/61770.html. [in Ukrainian].
13. Nakaz MFU vid 22.11.2004 r. No 732 “Pro zatverdzhennia typovykh form pervynnoho obliku obiektiv prava intelektualnoi vlasnosti u skladi nematerialnykh aktyviv” [Directive of the Ministry of Finance of Ukraine from 22.11.2004 No 732 “On approval of the standard forms for primary recording of the intellectual property objects incorporated in intangible assets]. Retrieved from http://zakon5.rada.gov.ua/laws/show/z1580-04. [in Ukrainian].
14. Nakaz Ministerstva ahrarnoi polityky Ukrainy vid 21 liutoho 2008 roku No 73 “Pro zatverdzhennia Metodychnykh rekomendatsii shchodo zastosuvannia spetsializovanykh form pervynnykh dokumentiv z obliku dovhostrokovykh ta potochnykh biolohichnykh aktyviv” [Directive of the Ministry of Agrarian Policy of Ukraine from 21 February 2008 No 73 “On approval of methodical recommendations on application of the specialized form for primary documents for recording long-term current biological assets”]. Retrieved from http://search.ligazakon.ua/l_doc2.nsf/link1/FIN39760.html. [in Ukrainian].
15. Nakaz MFU vid 24.05.1995 r. No 88 “Pro zatverdzhennia Polozhennia pro dokumentalne zabezpechennia zapysiv u bukhhalterskomu obliku” [Directive of the Ministry of Finance of Ukraine from 24.05.1995 No 88 “On approval of the Rules for documenting of records in accounting”]. Retrieved from http://zakon3.rada.gov.ua/laws/show/z0168-95. [in Ukrainian].
16. Neoborotni aktyvy, utrymuvani dlia prodazhu, ta prypynena diialnist: Polozhennia (standart) bukhhalterskoho obliku 27 vid 03.10.2007 r. No 1100 [Non-current assets held for sale, and discontinued operations: the rules (the standard) of accounting]. Ofitsiinyi visnyk Ukrainy – Official bulletin of Ukraine, 2003, No 47, 5 December, p. 180 [in Ukrainian].
17. Vse pro bukhhalterskyi oblik: vseukrainska profesiina hazeta – Everything about accounting: an All-Ukrainian professional newspaper, 2013, No 81, 2 September, p. 11 [in Ukrainian].

Abstract views: 38
PDF Downloads: 21
Published
2018-10-17
How to Cite
ShygunM. М., & Mychak, N. (2018). Primary Accounting of Non-Current Assets Held for Sale. Scientific Bulletin of the National Academy of Statistics, Accounting and Audit, (4), 66-74. https://doi.org/https://doi.org/10.31767/nasoa.4.2018.07