Long-term assets formation in the balance sheet of the Republic of Belarus and the countries of the European Union
In the introduction it is noted the relevance of the research of the formation of articles of long- term assets of the Republic of Belarus and the countries of the European Union industrial organizations as an information base for calculating indicators characterizing their business activity and competitiveness. The purpose of the research is to study the current status of formation of articles of long-term assets in the balance sheet of the organizations of the countries of the European Union and the Republic of Belarus, as well as the study of opportunities of use of common methods of quality assessment of long-lived assets as indicators of production potential of industrial organizations and their solvency. In the main part it is detailed the technique of formation of each article of long-term assets in the industrial organizations of the Republic of Belarus on the basis of application of the Standard chart of accounts and instructions on its use. It also set out recommendations for the formation of articles of long-term assets under Directive 2013/34/EU of the European Parliament and of the Council of June 26, 2013. It is provided a comparative description of the recommended methods for the formation of indicators of intangible assets, fixed assets, long-term financial investments, investments in tangible assets and other items of long-term assets. Based on the study, the advantages of forming articles of long-term assets in the organizations of industry in the countries of the European Union are justified, taking into account the long-term cash reserve in the amount of accrued depreciation used to update the production capacity of each organization. The introduction of such an approach to the formation of accumulated depreciation of tangible and intangible long-term assets of the balance sheet articles in the industrial organizations practice of the Republic of Belarus will provide a real source of funding for the renovation of fixed assets, the development and the implementation of innovative measures through the provision of accrued depreciation in cash.