ACCOUNTING TREATMENT OF FIXED ASSETS ACCORDING TO IAS 16 AND NAS. PRACTICAL AND COMPARATIVE ASPECTS

Abstract

The purpose of this research is to describe the accounting treatment of fixed assets from the national perspective, the convergences as well as the divergences encountered in their accounting under IFRS. The importance of this paper is given by the fact that fixed assets / tangible assets are active, which are more or less present at each entity and the harmonization of national accounting with IFRS provisions is constantly increasing, therefore this research is accompanied by practical aspects of the stipulations of both standards, notably IAS 16, proposing solutions for different situations.Thus, through this research, the authors set out to illustrate some key moments that are treated differently, such as determining the cost of entry of the fixed asset, such as the evaluation of property, plant and equipment at the time of preparing the financial statements, from the perspective of NAS and IAS 16 and their reassessment. Each aspect described is accompanied by examples.