Abstract
In the given article the issues with fixed asset accounting, worldwide standards-compliant fixed asset audit methods as well as the standards and characteristics for recognizing fixed assets are studied. The majority of domestic enterprises experience challenges with the recognition and classification of fixed assets, as well as the determination of their carrying value and any associated depreciation and impairment losses that are subject to recognition. IAS 16 plant properties, equipment principles and requirements based on international standards are disclosed.
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