ACCOUNTING OF NON-FINANCIAL ASSETS IN THE MANAGEMENT OF PUBLIC SECTOR ENTITIES

Olena Tsiatkovska

Abstract


Introduction. The article examines the economic nature and main purpose of non-financial assets, the classification of non-financial assets according to different approaches, the relationship between public sector accounting and the management of non-financial assets. Methods. Methods of induction, deduction, comparison and synthesis have been used in the study of the economic essence and in the elaboration of the author’s definition of «non-financial assets». Methods of analysis, comparison and synthesis have been applied in the study of the classification of non-financial assets and in the elaboration of author’s proposals for the treatment of non-financial assets in the management of public sector institutions. Results. As a result of the study, an author`s interpretation of the economic essence of non-financial assets has been defined, taking into account domestic and international practices, the classification of non-financial assets has been systematized and generalized. It is also identified the characteristics and impact of accounting for non-financial assets on the management of public sector entities. Discussion. The treatment of non-financial assets is important for the effective management of both public institutions and the public sector as a whole. This is why further research on the relationship between accounting and management of public sector institutions based on accounting information as well as the identification of major normative regulatory areas for the disclosure of non-financial assets of public institutions in sub-accounts is warranted.


Keywords


public institutions; non-financial assets; accounting; property; financial assets.

Full Text:

PDF>PDF

References


Bjudzhetnyj kodeks Ukrajiny vid 01.01.2021 №456-VI. Retrieved from https://zakon.rada.gov.ua/laws/show/2456-17#Text (data zvernennja: 14.04.2021) [in Ukrainian].

Drozd I.K. (2009). Bukhghaltersjkyj oblik ta vnutrishnij derzhavnyj audyt za mizhnarodnymy standartamy [Accounting and internal state audit according to international standards]. Kyiv [in Ukrainian].

Kondratjuk I.O. & Londarenko O.O. (2015). Oblik vytrat na prydbannja nefinansovykh aktyviv bjudzhetnykh ustanov: upravlinsjkyj aspekt [Accounting for the acquisition of non-financial assets of budgetary institutions: management aspect ]. Finansy, oblik i audit [Finance, accounting and auditing], 1. 210–230. Retrieved from http://nbuv.gov.ua/UJRN/Foa_2015_1_18. [in Ukrainian].

Lovinsjka L.Gh. (2009). Bukhghaltersjkyj oblik ta vnutrishnij audyt v derzhavnomu sektori [Accounting and internal state audit according to international standards]. Kyiv. [in Ukrainian].

Nakaz Ministerstva finansiv Ukrajiny Pro Nacionaljne polozhennja (standart) bukhghaltersjkogho obliku v derzhavnomu sektori 121 «Osnovni zasoby» vid 12.10.2010 № 1202 Retrieved from https://zakon.rada.gov.ua/laws/show/z1017-10#Text.

Nakaz Ministerstva finansiv Ukrajiny Pro Nacionaljne polozhennja (standart) bukhghaltersjkogho obliku v derzhavnomu sektori 101 «Podannja finansovoji zvitnosti» vid 24.12.2010 № 1629 Retrieved from https://zakon.rada.gov.ua/laws/show/z0095-11#Text.

Nakaz Ministerstva finansiv Ukrajiny Pro zatverdzhennja Planu rakhunkiv bukhghaltersjkogho obliku v derzhavnomu sektori vid 31.12. 2013 r. № 1203 Retrieved from https://zakon.rada.gov.ua.

Postanova Kabinetu Ministriv Ukrajiny Pro zatverdzhennja Strateghiji modernizaciji systemy bukhghaltersjkogho obliku v derzhavnomu sektori na 2007-2015 roky vid 16.01.2007 №34 Retrieved from https://zakon.rada.gov.ua/laws/show/34-2007-%D0%BF#Text.

Rukovodstvo po statystyke ghosudarstavennыkh fynansov 2001 ghoda [2001 Guide to Public Finance Statistics ]. Retrieved from https://www.imf.org/external/pubs/ft/gfs/manual/rus/index.htm.

Svirko S. V. (2013). Rozvytok ocinky nefinansovykh aktyviv u bjudzhetnykh ustanovakh: istorychni tradyciji ta suchasni tendenciji [Development of valuation of non-financial assets in budgetary institutions: historical traditions and modern trends] Nezalezhnyj audytor [Independent auditor], 5. 23–34. Retrieved from http:// nbuv.gov.ua/UJRN/Na_2013_5_6. [in Ukrainian].

Sistema natsionalnykh schetov 2008 ghoda (SNS-2008). [System of National Accounts 2008 (2008 SNA)] Retrieved from https://unstats.un.org/unsd/nationalaccount/docs/SNA2008 Russian.pdf. [in Russian].

Cherkashyna T. V. (2017). Nefinansovi aktyvy: ocinka i klasyfikacija u derzhavnomu sektori [Nonfinancial assets: valuation and classification in the public sector] Prychornomorsjki ekonomichni studiji. 2017. Vyp. 23. p. 201-206. - Rezhym dostupu: http://nbuv.gov.ua/UJRN/bses_2017_23_39. [in Ukrainian].

Jurchenko, O. B. (2020). Aktyvy sub'jektiv derzhavnogho sektoru ekonomiky: ponjattja, klasyfikacija ta metodychni zasady orghanizaciji obliku [Assets of public sector entities: the concept, classification and methodological principles of accounting] Ekonomichnyj prostir [Economic space], (161), 140-146. https://doi.org/10.32782/2224-6282/161-26 [in Ukrainian].




DOI: https://doi.org/10.35774/ibo2021.03-04.040

Refbacks

  • There are currently no refbacks.


Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.


Ліцензія Creative Commons

"Scientific Club "SOPHUS"
West Ukrainian National University
Higher Education Institution "Podillia State University"