Internal control of accounting of fixed assets in accordance with the new standards

Abstract

Abstract. The purpose. Study of the peculiarities of the organization of the internal control system of fixed assets in order to reduce the risks of ineffective use and theft. Research methods. Analyzed normative acts, explanations of regulatory authorities, judicial practice. Particular attention is paid to the analysis of federal accounting standards governing the accounting of fixed assets, which come into effect from 2022. Results. Changes in regulations governing the procedure for conducting accounting and tax accounting require adjustments and methods of verification by internal controllers. Fixed assets are components of the material and technical base of the enterprise, allow increasing sales, producing quality products and increasing attractiveness in the eyes of investors. The introduction of new accounting standards, as well as the strengthening of administration by the regulatory authorities, require a revision of internal local documents and changes to the internal control methods. The directions of the organization of internal control of fixed assets, practical examples of incorrect reflection in the accounting of assets and the consequences leading to additional taxes are considered. The risks of theft and ineffective use of fixed assets arise from both managers and employees of the enterprise. Properly organized internal control will help identify fraud patterns and reduce the risks of damage to the enterprise. The paper proposes step-by-step algorithms for organizing internal control for the main business operations associated with the use of fixed assets. Namely, the algorithm for checking the accrued depreciation, repair costs, documents confirming the liquidation of fixed assets. Errors made in the formation of the initial cost can lead to a distortion of the cost, the book value of fixed assets and lead to an incorrect calculation of income tax and property tax of organizations.