Khusinov Ibragim Ismailovich
Email:xusinovii@gmail.com
Tojieva Madina Gayratovna
Master student of the BH-4 group of the Tashkent Financial Institute
Email:fraumadina7@gmail.com
Abstract. This article is devoted to some features of the valuation of fixed assets based on IFRS. At the stage of transition of Scientific Journal of “International Finance & Accounting” Issue 3, June 2022. ISSN: 2181-1016 2 organizations in Uzbekistan to reporting on the basis of IFRS, one of the problems is to bring the accounting and reporting system in line with the requirements of international financial reporting standards. Currently, the NAS is gradually moving closer to IFRS in terms of accounting for fixed assets, but still has irreparable differences from IFRS. And organizations face additional costs for parallel accounting or transformation of finished reporting. Understanding the fundamental differences between NAS, in terms of fixed assets, will make it possible to bring accounting closer to IFRS in this industry as much as possible and reduce these costs. Due to the fact that fixed assets in enterprises, being the most important resource, occupy a significant part of the invested resources, special attention must be paid to their correct accounting. From the correct assessment of fixed assets, in the end, the report on the financial position of the organization depends to the greatest extent. Therefore, a correct assessment involves increasing the reliability of accounting data, which enables interested parties, based on balance sheet data, to present an adequate picture of the company’s assets and their real value, as well as improving the quality of its asset management, which leads to an increase in management efficiency in general. To date, accounting for fixed assets under NAS in many respects does not comply with IFRS. This discrepancy is caused by the peculiarities of regulatory documents on accounting of the Republic of Uzbekistan. This article describes various types of valuations of fixed assets, and also suggests measures to correct the discrepancy, including the introduction into national standards of such concepts as fair value, recoverable amount, value in use. In addition, this article discloses questions regarding depreciable cost, namely: when it is advisable to start accruing depreciation, how to change the period and method of depreciation. Ключевые слова: основные средства, первоначальная стоимость, балансовая стоимость, амортизируемая стоимость, ликвидационная стоимость, справедливая стоимость, возмещаемая стоимость.
Key words: property, plant, equipment, fixed assets, initial cost, book value, depreciable cost, residual value, fair value, recoverable amount.