Developing an Improved Methodology for the Presentation of Property, Plant and Equipment Information in Financial Statements

This article examines issues related to improving the accounting and financial reporting system in the country on the basis of international standards, enhancing the transparency of financial reporting information, and creating a reliable information environment for foreign investors. The study analyzes the procedures for recognizing property (land and buildings), plants, machinery, and equipment in financial statements, their movement, depreciation methods, as well as the disclosure of revaluation and impairment results in accordance with the requirements of IAS 16 “Property, Plant and Equipment” and IAS 36 “Impairment of Assets”. In addition, the feasibility of preparing internal reports on the movement of fixed assets to improve the reliability of information presented in the statement of financial position is substantiated.