PROBLEMS OF THE ORGANIZATION OF THE ACCOUNTING OF CAPITAL INVESTMENTS AND DIRECTIONS FOR THEIR SOLUTION

Abstract

Protection of investments at the state level requires the presence of political, financial, administrative and legal, economic stability as well as guarantees of investment protection. The domestic legal framework for investments, in particular capital ones, contains a number of gaps that must be eliminated at the enterprise level. Such decisions are often characterized by a high risk of non-recognition of expenses as capital when audited by tax authorities. The study is dedicated to finding possible ways to solve the problem of attributing costs for modernization, retrofitting, and reconstruction of fixed assets to capital investments. The definition of capital investments in regulatory documents was studied and the main boundaries of their identification were outlined. Based on the research of publications of recent years, the problems of accounting for the costs of modernization, reconstruction and retrofitting of fixed assets have been systematized. The components of the identification of capital investments for the purposes of accounting organization are determined depending on the methods: reproduction of the fixed capital, execution of works, sources of financing of the investment object. It is proposed to specify the object of fixed assets in the accounting policy of the enterprise from the point of view of the asset's ability to perform work, rather than specific functions. This will provide an opportunity to use low-value non-current assets as fixed assets. For the proper documentation of capital investment transactions, a document circulation schedule is proposed, which is formed taking into account the direction of costs to materially responsible persons and accounting objects. On the basis of the selected components of the organization of accounting for capital investments, a working plan of accounts is proposed to increase the analytics of accounting information in terms of methods of reproduction of fixed capital, methods of performing works and sources of financing. Ways to solve the problem of capitalization of costs for modernization, retrofitting and reconstruction of existing fixed assets are systematized. In order to substantiate the decisions made regarding the capitalization of costs during inspections by supervisory bodies and when resolving controversial issues regarding the legality of such actions, it is proposed to develop own classifiers or other regulations at the level of the enterprise's accounting organization.