Comparative analysis of the accounting of fixed assets of the entities of the state and private sectors of the economy

The need to improve the accounting of fixed assets of public and private sector entities is relevant as all entities are required to record the results of their activities. Modern conditions for the development of economic activity have long gone beyond the borders of Ukraine, domestic companies gradually begin to use international financial reporting (accounting) standards, in this connection, their business reputation and competitiveness are improving. This contributes to the need to reform and improve the domestic accounting system, taking into account international experience, which was done in 2017, the regulatory and legislative basis of accounting of public sector entities was updated, which contributed to its approximation to international standards All this leads to the search for some of the differences and national peculiarities that have survived this reformation.

The purpose of the article is to carry out a comparative analysis of accounting standards that regulate the accounting of fixed assets of the entities of the state and private sectors of the economy.

The definition of "fixed assets", determination of the unit of accounting for fixed assets, the classification of fixed assets, methods of depreciation of fixed assets, the procedure for estimating the original value of fixed assets and revaluation of fixed assets according to international and national accounting standards are compared.

To sum up, it can be noted that the results of the comparative analysis of accounting standards that regulate the accounting of fixed assets of public and private sectors of the economy have established that, despite the presence of common features between the standards, there are simultaneous differences in some issues, as a classification, methods of accrual of depreciation, valuation and revaluation of fixed assets. Despite the fact that national standards are created on the basis of international, the reasons for such a departure are taking national accounting peculiarities into account. Harmonization of differences will facilitate the improvement and improvement of the work of Ukrainian accountants, provide information to users that is more reliable, the ensuring the possibility of comparing the reporting indicators of subjects of various sectors of the economy and lead to a new level of economic development.