Monetary form of fixed assets. For a more complete description of the state of the means of labor, certification of each worker should be carried out. Use of fixed assets

Almost any industrial enterprise has fixed assets and fixed assets. What are these resources?

What are fixed assets?

Under fixed assets it is customary to understand the share of production assets used in the process of releasing goods by an industrial enterprise for a long time. For example, it can be machine tools, cars, robots.

As fixed assets wear out, their value is written off to production costs through depreciation. In accordance with the legislation of the Russian Federation, fixed assets include only those resources that are to be used for 1 year or more.

What are fixed assets?

Under fixed assets can be understood:

fixed assets, which are reflected in accounting in value form;
tangible fixed assets (while intangible assets are classified as intangible assets).

Thus, fixed assets can have the same economic characteristics as fixed assets: long-term use - from 1 year or more, as well as write-off as expenses as they are depreciated. It can be noted that in accounting, the indicators of the value of fixed assets minus the corresponding write-offs form net fixed assets.

Comparison

The main difference between fixed assets and fixed assets is the order in which these terms are applied in relation to the context.

So, if we talk about accounting, then it most often uses the concept of "fixed assets". The term "fixed assets" is usually used in the context of economic analysis.

In some Russian laws, the term "fixed assets" is used synonymously with the concept of tangible fixed assets, while intangible assets are referred to differently - as intangible assets.

Having determined what is the difference between fixed assets and fixed assets, we reflect the conclusions in the table.

2.2.1. Characteristics of production assets

The means of labor (machines, equipment, buildings, vehicles) together with the objects of labor (raw materials, materials, semi-finished products, fuel) form the means of production. Expressed in value terms, the means of production are the production assets of enterprises. Distinguish between fixed and circulating funds.

Fixed production assets are means of labor that take part in the production process for a long time and at the same time retain their natural form. Their cost is transferred to finished products in parts, as the use value is lost.

Revolving assets are those means of production that are completely consumed in each new production cycle, completely transfer their value to the finished product and do not retain their natural form during the production process.

Along with production, there are non-productive fixed assets - social property. These are residential buildings, children's and sports institutions, canteens, recreation centers and other objects of cultural and everyday services for workers, which are on the balance sheet of enterprises and do not directly affect the production process.

2.2.2. Classification, structure and valuation of fixed assets

Depending on the production purpose, fixed assets are divided into groups:
- buildings - industrial buildings, warehouses, offices, garages, etc .;
- structures - roads, overpasses, fences and other engineering and construction structures that create the necessary conditions for the implementation of the production process;
- transmission means - power lines, communications, pipelines;
- machines and devices - power machines and equipment, working machines and equipment, measuring and regulating devices and laboratory equipment, computers;
- vehicles - all types of vehicles, incl. interfactory, interdepartmental and intrashop;
- instruments;
- production equipment and accessories;
- household equipment;
- other fixed assets.

These groups form the active and passive parts of fixed assets. The active part includes transmission devices, machines and equipment, the passive part includes buildings, structures, vehicles that are not directly involved in the production process, but are a necessary condition for it.

The ratio between individual groups and parts of fixed assets characterizes their structure, which is important in the organization of production. The most effective is the structure where the specific gravity of the active part is greater.

The structure of fixed assets is influenced by such factors as specialization and concentration of production, features of the production process, the level of mechanization and automation, the geographical location of the enterprise, etc.

There are several types of valuation of fixed assets.

The initial cost of fixed assets is the sum of the costs of manufacturing or purchasing funds, their delivery and installation.

The replacement cost is the value of assets at the time of their last revaluation.

Residual value is the difference between the original or replacement value of fixed assets and the amount of their depreciation.

Salvage value is the value of the sale of worn-out and retired fixed assets (for example, the price of scrap).

2.2.3. Reproduction of fixed assets

Fixed assets located at enterprises are gradually wearing out. Distinguish between physical and moral deterioration.

Physical wear and tear means material wear and tear of fixed assets under the influence of the labor process, the forces of nature (erasure of working bodies, corrosion of metal parts and structures, rotting of wooden parts, weathering, etc.).

The physical wear and tear of fixed assets is directly dependent on the load, the quality of care, the level of organization of production, the qualifications of workers and other factors. It is determined by the ratio of the actual and standard service life of fixed assets. For a more accurate determination of wear, an examination of the technical condition of fixed assets is carried out.

The obsolescence of fixed production assets is understood as their inconsistency with the modern level of technology, a decrease in the technical and economic feasibility of their operation.

In order to compensate for the depreciation of fixed assets and accumulate the necessary funds for the reproduction and restoration of fixed assets, a system of depreciation deductions is used.

Depreciation is called cash compensation for the depreciation of fixed assets. Depreciation deductions are one of the elements of production costs and are included in the cost of production.

The amount of depreciation, expressed as a percentage of the initial (book) value of each type of fixed assets, is called the depreciation rate and is calculated by the formula:

where F p (b)- the initial (book) value of fixed assets;
F l- the liquidation value of fixed assets;
T cl- service life of fixed assets.

The annual amount of depreciation deductions for the renovation of fixed assets is calculated by multiplying the average annual cost of fixed assets by the corresponding depreciation rates and correction factors to them, taking into account the specific operating conditions of certain types of labor instruments.

The amount of depreciation deductions is determined three methods: uniform, uniformly accelerated and accelerated (when 2/3 of the initial value of fixed assets is transferred in the first three years, and then the remainder is transferred evenly).

There are various forms of simple and extended reproduction of fixed assets.

Forms of simple reproduction - repair (current, average, capital and recovery), modernization of equipment (improving it in order to prevent technical and economic aging and increase technical and operational parameters to the level of modern production requirements) and replacement of physically worn out and technically obsolete means of labor.

Forms of extended reproduction of fixed assets:
- technical re-equipment (at a qualitatively new level) of the operating enterprise;
- reconstruction and expansion;
- New construction.

2.2.4. Production capacity of the enterprise

The production capacity of the enterprise is the maximum possible annual (daily, shift) output of products (or the volume of raw materials processing) in the nomenclature and assortment, subject to the fullest use of equipment and production areas, the use of progressive technology and organization of production. To measure production capacity, natural and conditionally natural meters are used (tons, pieces, meters, thousands of conventional cans, etc.).

There are three types of power:
- design (provided for by a construction or reconstruction project);
- current (actually achieved);
- backup (to cover peak loads).

When determining the current capacity, the input (at the beginning of the year), output (at the end of the year) and the average annual capacity of the enterprise are calculated.

The average annual capacity of the enterprise is calculated according to the formula:

where M n.h.- capacity at the beginning of the year;
M input.- capacity introduced during the year;
M select.- retired power;
n 1, n 2- the number of months from the date of commissioning or disposal of capacity, remaining until the end of the year.

The amount of power depends on many factors: the number of installed equipment, the technical standard for the productivity of the leading equipment, the possible fund of equipment operation time and the use of production facilities throughout the year, the range, range and quality of manufactured products, standards for the duration of the production cycle and labor intensity of manufactured products (services performed) etc.

The production capacity of the enterprise is determined by the capacity of the leading production workshops, sections or units, i.e. by the capacity of leading industries.

In general, the production capacity of the leading workshop can be determined by the formula:

or ,

where a- equipment productivity per hour;
T- annual fund of equipment working time, hours;
m- the average annual amount of equipment;
t- labor intensity of manufacturing a unit of production, hour.

2.2.5. Efficiency of reproduction and use of fixed assets and production capacities

To characterize the reproduction of fixed assets, the following indicators are used:

The main indicators of the use of fixed assets are:
1) the coefficient of extensive use of equipment is determined by the ratio of the actual number of hours of operation of the equipment to the number of hours of its work according to the plan;
2) the shift factor of equipment operation - the ratio of the total number of machine-days worked per day to the number of installed equipment;
3) the coefficient of intensive use of equipment is determined by the ratio of the actual performance of the equipment to its technical (passport) performance;
4) the coefficient of integral use of equipment is equal to the product of the coefficients of intensive and extensive use of equipment and comprehensively characterizes its operation in terms of time and productivity;
5) capital productivity - an indicator of output per one hryvnia of the average annual cost of fixed assets;
6) capital intensity - the reciprocal of the return on assets. It shows the share of the cost of fixed assets attributable to each hryvnia of manufactured products. Return on assets should tend to increase, and capital intensity - to decrease;
7) the capital-labor ratio is determined by the ratio of the average annual cost of fixed assets to the average number of industrial production personnel of the enterprise for the year.

The enterprise also calculates the design capacity utilization factor and the current capacity utilization factor.

The main directions for improving the use of fixed assets and production capacities: reducing equipment downtime and increasing the coefficient of its shift; replacement and modernization of worn out and outdated equipment; introduction of the latest technology and intensification of production processes; rapid development of newly commissioned capacities; motivation for the effective use of fixed assets and production facilities; development of a joint-stock form of management and privatization of enterprises, etc.

2.2.6. Working capital of the enterprise

Along with the main production assets, circulating production assets are involved in the production process.

The revolving funds include:
- production stocks - raw materials, auxiliary materials, purchased semi-finished products, fuel, packaging, spare parts for equipment repair, low-value wearing tools, as well as household inventory;
- work in progress - objects of labor that are in production at different stages of processing in the divisions of the enterprise;
- semi-finished products of own manufacture - objects of labor, the processing of which is fully completed in one of the divisions of the enterprise, but subject to further processing in other divisions of the enterprise;
- deferred expenses, which include the costs of preparing and mastering new products, innovation and invention, as well as other costs incurred in this period, but which will be included in the cost of production in the subsequent period.

The ratio between individual groups, elements of circulating assets and their total volumes, expressed in shares or percentages, is called the structure of circulating assets. It is formed under the influence of a number of factors: the nature and form of the organization of production, the type of production, the duration of the technological cycle, the conditions for the supply of fuel and raw materials, etc.

On average, at industrial enterprises of Ukraine in the total volume of circulating assets, the share of inventories is about 70%, and work in progress and home-made semi-finished products - 25%.

The main condition for the formation and use of circulating assets is their regulation.

Consumption rates are considered to be the maximum permissible absolute values of the consumption of raw materials and materials, fuel and electrical energy for the production of a unit of production.

Rationing the consumption of certain types of material resources provides for the observance of certain scientific principles. The main ones should be: progressiveness, technological and economic feasibility, dynamism and ensuring the reduction of norms.

When establishing norms and standards for the planned year, it is recommended to use an experimental-statistical and calculation-analytical method.

When analyzing the work of an industrial enterprise, various indicators of the useful use of material resources are used:
- indicator (coefficient) of the output of finished products from a unit of raw materials;
- indicator of consumption of raw materials per unit of finished products;
- the utilization factor of materials (the ratio of the net weight or mass of the product to the standard or actual consumption of structural material);
- the utilization factor of the area or volume of materials;
- the level of waste (losses), etc.

Common sources of savings in material resources are: a decrease in the specific consumption of materials; reducing the weight of products; reduction of losses and waste of material resources; use of waste and by-products; recycling; replacement of natural raw materials and artificial materials, etc.

After studying the materials in Chapter 6, the student should:

know

The essence of fixed assets and working capital as material resources of the company;

be able to

Analyze the structure of the firm's fixed assets and the factors affecting it;

own

The composition of the working capital and working capital of the company and the factors affecting its changes.

Fixed assets of the company. The essence and value of fixed assets

The successful functioning of the company is possible with the effective use of all property and, first of all, fixed assets and working capital.

■ Fixed assets (OF)- these are material values used as means of labor, which act in unchanged natural form for a long period of time and in parts transfer their value to the cost of products, works, services.

In the practice of accounting and statistics, fixed assets include labor instruments with a service life of at least one year and a cost not less than the established standard. Depending on the nature of the participation of fixed assets in the process of expanded reproduction, they are divided into production and non-production fixed assets.

Production fixed assets function in the sphere of material production, repeatedly participate in the production process, wear out gradually, and their value is transferred to the manufactured product in parts as it is used. They are replenished by capital investments.

Non-productive fixed assets - residential houses, children's and sports facilities, other cultural and household facilities that are on the balance sheet of the enterprise. Unlike production fixed assets, they do not participate in the production process, their value disappears in consumption. They are reproduced at the expense of the firm's net profit.

The role of fixed assets in the labor process is determined by the fact that, in their totality, they form the production and technical base and determine the enterprise's capabilities for the production of products, the level of technical equipment of labor. The accumulation of fixed assets and an increase in the technical equipment of labor enrich the labor process, impart a creative character to labor, and raise the cultural and technical level of society.

The overwhelming and most important part of the material resources of society is embodied in fixed assets. They constitute the main part of the country's national wealth.

Fixed production assets should be systematically updated. The growth of fixed assets, especially tools of labor, and the improvement of their quality on the basis of the latest technical and scientific achievements increase the technical equipment of labor, are the most important condition for the production of high-quality products with lower labor costs, an increase in labor productivity and a decrease in production costs.

Composition, structure, types and valuation of fixed assets

Despite its economic homogeneity, fixed assets differ in their intended purpose and service life. Fixed production assets are classified according to the following criteria:

- by types (groups): land plots and natural resources owned by the enterprise on the basis of property rights; building; structures; transmission devices; cars and equipment; measuring and control devices, devices and laboratory equipment; Computer Engineering; vehicles; tools and devices with a service life of more than 12 months; production and household equipment; on-farm roads; capital investments in land improvement and in rented buildings, premises, equipment and other objects related to fixed assets, etc .;
- according to the degree of activity in the production process: active and passive;
- by belonging: own and rented;
- for participation in the production process: cash, installed, working according to plan and actually working, reserve and spare, mothballed.

The enterprise distinguishes between the production (species) and age structure of fixed assets.

Production (specific) structure of fixed assets Is the share of certain types of fixed assets in their total value (in percent).

The most important factors affecting the specific structure of fixed assets are:

- the scope of the enterprise;
- the nature of the products, works, services;
- the level of mechanization and automation of production;
- the level of specialization of production;
- the volume of production;
- the territorial location of the enterprise.

The higher the share of the active part of fixed assets, the higher the output, other things being equal, the higher the rate of return on assets. Therefore, improving the structure of fixed assets is considered as a condition for the growth of production, reducing the cost of production, increasing the firm's cash savings.

The ratio of individual age groups of active fixed assets (in percentage) represents the age structure of fixed assets. In the practice of industrial enterprises, active fixed assets are divided into the following age groups: equipment with a service life of up to 5 years, from 5 to 10 years, from 10 to 15 years, from 15 to 20 years, over 20 years.

Factors affecting the age structure of fixed assets:

- the age of the enterprise;
- progressiveness of products;
- enterprise development strategy;
- innovation and investment policy of the enterprise;
- the financial condition of the enterprise.

The structure of fixed assets can be improved by:

- equipment renewal and modernization;
- improving the structure of equipment by increasing the share of progressive types of machine tools and machines, especially machines for performing finishing operations, automatic and semi-automatic machines, universal modular machines, automatic lines, machine tools with numerical control;
- optimal use of buildings and structures, installation of additional equipment in free areas;
- Correct development of construction projects and high-quality implementation of construction plans for enterprises;
- elimination of excess and little-used equipment and installation of equipment that provides more correct proportions between its individual groups.

For the effective management of fixed assets, their objective assessment is of great importance. In the practice of accounting and analysis of fixed assets, natural and monetary forms are used. When evaluating fixed assets in kind, the number of machines, their productivity, capacity, the size of production areas and other quantitative values are established. This data is used to calculate the production capacity of an enterprise, plan a production program, etc.

Monetary, or value, assessment of fixed assets is necessary for planning the expanded reproduction of fixed assets, determining the degree of wear and tear and the amount of depreciation, indicators of the use of fixed assets, calculating their structure, compiling the balance sheet of the enterprise.

There are the following types of valuation of fixed assets.

Full initial cost fixed assets - this is the sum of the costs of manufacturing or acquiring funds, their delivery, intermediary and consulting services, installation work, etc. It is used to determine the depreciation rate and the amount of depreciation charges, profit and profitability of enterprise assets, indicators of their use. At this cost, the newly acquired funds are credited to the balance sheet of the enterprise.

Replacement cost- these are the costs of reproduction of fixed assets in modern conditions; it is established during the revaluation of funds. Enterprises have the right not more than once a year (at the beginning of the reporting year) to revalue fixed assets at replacement cost by indexation or direct recalculation with the attribution of the arising differences to the additional capital of the company, unless otherwise provided by the legislation of the Russian Federation.

During operation, fixed assets wear out and gradually lose their original (replacement) value. To assess their real value, it is necessary to exclude from them the cost of the depreciated part of the funds. This will be residual value fixed assets, which is the difference between the initial or replacement cost of fixed assets and the amount of their depreciation.

Liquidation value fixed assets - this is the cost of selling worn-out and discontinued fixed assets (often the price of scrap).

Depreciation and amortization of fixed assets

There are two types of wear and tear - physical and moral.

Under physical wear and tear understand the gradual loss of fixed assets of their initial use value, which occurs not only during their functioning, but also during their inactivity (destruction from external influences, atmospheric influences, corrosion). The physical wear and tear of fixed assets depends on the quality of fixed assets, their technical improvement (design, type and quality of materials, the quality of the construction of buildings and installation of machines), the characteristics of the technological process (the value of the speed and cutting force, feed, etc.), the time of their operation. (the number of days of work per year, shifts per day, hours of work per shift), the degree of protection of fixed assets from external conditions, the quality of maintenance of fixed assets and their maintenance, from the qualifications of workers and their relationship to fixed assets.

Physical wear and tear occurs unevenly even for the same elements of fixed assets. Distinguish between full and partial depreciation of fixed assets. At complete depreciation, existing assets are liquidated and replaced by new ones (capital construction or current replacement of worn-out fixed assets), partial wear and tear is reimbursed by repair. The physical wear and tear of fixed assets can be calculated by the ratio of the actual service life to the standard, multiplied by 100. The most correct method is to examine the condition of the object in kind.

Obsolescence- this is a decrease in the cost of machinery and equipment under the influence of a reduction in socially necessary costs for their reproduction (obsolescence of the first form) or a decrease in their value as a result of the introduction of new, more progressive and cost-effective machines and equipment (obsolescence of the second form). Under the influence of these forms of obsolescence, fixed assets become backward in terms of their technical characteristics and economic efficiency.

Obsolescence of the second form can be considered as partial and complete wear and tear, as well as its latent form. With partial obsolescence, there is a partial loss of the use value and value of the machine. Its gradually increasing size in individual operations eventually reaches such values when it becomes expedient to use it in other operations, in other production conditions, where it will still be quite effective. Full obsolescence means complete depreciation of the machine, when its further operation becomes unprofitable. An outdated car is either disassembled for spare parts, or written off as scrap metal. The latent form of obsolescence implies the threat of depreciation of the machine due to the fact that there is a task to develop new, more productive and economical equipment.

In modern conditions, accounting for obsolescence is becoming increasingly important. The emergence of new, more advanced types of equipment with increased productivity, better service and operating conditions often makes it economically feasible to replace old fixed assets even before they are physically worn out. Untimely replacement of obsolete equipment leads to the fact that more expensive and poorer quality products are produced on them compared to those manufactured on more advanced machines and equipment, and this is absolutely unacceptable in conditions of market competition.

It is possible to eliminate wear by renewing fixed assets.

Depreciation- this is the transfer in parts of the value of fixed assets during the standard service life or standard operating time for manufactured products and the subsequent use of this value to reimburse the consumed fixed assets. The transferred value of fixed assets in the composition of products leaves the sphere of production and enters the sphere of circulation. After the sale of products, a part of the amount of money corresponding to the transferred value of fixed assets goes to sinking fund, in which it accumulates to a value corresponding to the original cost. The amortization fund is used to purchase new fixed assets to replace worn-out ones.

Depreciable property is divided into depreciation groups in accordance with the period of its normative (useful) use. The enterprise determines the normative period of use independently on the date of commissioning of this facility based on the classification of fixed assets.

The useful life of an item is determined based on the expected life of the item, taking into account its productivity and capacity; expected physical wear and tear, depending on the mode and operating conditions and other factors; regulatory and other restrictions on the period of use (for example, use under a lease).

Fixed assets are combined into the following depreciation groups: Group I - with a period of use from 1 to 2 years inclusive; II - over 2 to 3 years inclusive; III - over 3 to 5 years inclusive; IV - over 5 to 7 years inclusive; V - over 7 to 10 years inclusive; VI - over 10 to 15 years inclusive; VII - over 15 to 20 years inclusive; VIII - over 20 to 25 years inclusive; IX - over 25 to 30 years inclusive; X - useful life over 30 years.

Depreciation is calculated using one of the following methods:

- uniform method (linear);
- the method of writing off the cost in proportion to the standard volume of products, works (method of units of production);
- the method of writing off the cost in proportion to the useful life of the object (method of the sum of numbers);
- diminishing balance method (double residual method). Application of any of the depreciation methods for

a group of homogeneous objects of fixed assets is produced during the entire standard period of use of objects. During the reporting year, depreciation deductions, regardless of the method used, are accrued in the amount of 1/12 of the annual amount.

1. Uniform method is the most common. Its essence is in the uniform accrual of the annual depreciation amount during the entire standard service life of the object. With this method, depreciation is calculated based on the initial cost of the fixed assets object and the depreciation rate calculated from the standard service life of this object.

Using the linear method, the annual depreciation rate for each depreciable property is determined by the formula

where is the annual depreciation rate to the original (replacement) value of the depreciable property (in percent); - the standard service life of the given object.

where is the amount of depreciation charges for the year; - the full initial cost of the object.

Example 6.1. An object worth 630 thousand rubles was purchased. with a standard service life of 5 years. The annual depreciation rate will be

The disadvantage of this method is that during the life of the equipment there are downtime, breakdowns and incomplete loading. This leads to the fact that in real production the equipment wears out unevenly over time. In addition, this method does not take into account the obsolescence of fixed assets.

2. Product unit method it is recommended to apply for those fixed assets, the wear of which is most influenced by the number of goods, works, services produced with their help (for example, for vehicles). With this method, the depreciation rate per unit of product (work, services) is determined by the formula

where is the depreciation rate per unit of production; - the normative quantity of products for a given object.

The amount of depreciation deductions for the year is determined by the formula

where is the actual or planned volume of production.

Example 6.2. The initial cost of the object is 840,000 rubles. The standard volume of production in value terms -

1,000,000 tons. Actual output in the billing period is 45,000 tons.

The depreciation rate per unit of production will be

The amount of depreciation deductions for the year will be

Methods 3 and 4 are methods of accelerated depreciation, since they make it possible to write off most of its value in the first years of the facility's service. These methods are recommended for those objects that quickly become obsolete and with an increase in their service life, the costs of their maintenance increase, the cost of their services (computers, communications, etc.) decreases.

3 Method of the sum of numbers. The essence of this method is that the annual depreciation rate decreases with an increase in the standard service life of the object.

The annual depreciation rate is determined by the formula

where is the next year of the standard service life of the object (years are taken in reverse order); - the sum of the number of years of the standard service life of the object (years are taken in reverse order).

The amount of depreciation deductions for the year is determined by the formula

Example 6.3. The initial cost of the object is 300,000 rubles. The useful life is 5 years.

The sum of the numbers of years of the standard service life of the object required to calculate depreciation with this method is determined as 1 + 2 + 3 + 4 + 5 = 15 (years).

The annual depreciation rate will be: in the 1st year:

in the 2nd year:

in the 3rd year:

in the 4th year:

in the 5th year:

The amount of depreciation deductions for the year will be: for the 1st year

for the 2nd year

for the 3rd year

for the 4th year

for the 5th year

4. Double residual method

Differences compared to the linear method.

1. The annual depreciation rate calculated in the 1st way is multiplied by the rate increase factor, which is equal to or close to 2:

where is the rate of increase in the norm.

2. The annual amount of depreciation deductions is determined not from the full initial cost of the object, but from its residual value at the beginning of each reporting year:

where is the residual value of the object.

Example 6.4. An object worth 50,000 rubles was purchased. standard service life of 4 years. The rate of acceleration of the norm is 2.

Annual depreciation rate

The annual rates of the depreciation amount are as follows:

for the 1st year: ; residual value - 300,000 (rubles);

for the 2nd year: ; residual value - 120,000 (rubles).

Forms of reproduction of fixed assets

With this method, depreciation is charged in two stages. At the first stage - using the double residual method until 80% of the total initial cost of the object is written off. At the second stage, when the residual value of the object reaches 20% of its full initial cost, depreciation is charged on it in the following order:

- the residual value of the object is fixed as its base value for further calculations;
- the amount of depreciation deductions for a month is determined by dividing the base cost by the number of months remaining until the end of the standard period of use of the object.

Reproduction of fixed assets is a complex process that includes the following interrelated stages: creation, consumption, depreciation, restoration and replacement.

The reproduction of fixed assets can be extended and simple.

Forms of extended reproduction of fixed assets:

- construction of new enterprises. The advantages of this form are that the enterprise is equipped with new equipment, can produce new types of products, and new jobs are created. The disadvantage is that large investments are required, their payback period is long, and the period for mastering production capacities is long;
- expansion of production is an increase in the volume of production at an operating enterprise due to the construction and commissioning of new workshops, buildings. Advantages: less investment per unit of production is required, capacities are quickly mastered. Disadvantage: a significant proportion of investment goes to passive funds;
- reconstruction of the enterprise - involves not only rebuilding and redeveloping workshops, but also re-equipping them with new equipment. Benefits: Most of the investment goes to active funds, less investment is required per unit of output. Disadvantage: stoppage of production for the period of reconstruction;
- technical re-equipment is the replacement of active fixed assets without changing the passive ones. Benefits: Almost all investments go to active funds. Disadvantage: outdated passive funds;
- modernization of equipment is the improvement of existing equipment by replacing its individual outdated parts with more progressive ones and (or) installing various devices that make it possible to increase labor productivity and product quality. Benefits: minimal investment. Disadvantage: The technique remains outdated.

Forms of simple reproduction of fixed assets:

- replacement of physically worn-out equipment with exactly the same or similar new one;
- equipment repair: a) routine (minor), which is carried out without stopping the production process, without disassembling equipment (elimination of minor breakdowns); b) medium (partial disassembly of equipment, replacement of individual worn out parts); c) overhaul (complete disassembly of equipment with the replacement of all worn out parts). As a rule, modernization is carried out simultaneously with a major overhaul.

Indicators of the use of fixed assets

All indicators of the use of fixed assets are divided into private and generalizing.

Private indicators characterize the efficiency of using only certain types of fixed assets. For example, the efficiency of using a blast furnace is characterized by the indicator: iron removal from 1 m2 of the blast furnace hearth. This indicator cannot characterize the efficiency of using any other types of fixed assets.

Generalizing indicators characterize the efficiency of using various types of fixed assets. Among these indicators, the following are most common.

Return on assets. The result of the better use of fixed assets is, first of all, an increase in the volume of production. Therefore, the generalizing indicator of the efficiency of fixed assets should be based on the principle of commensuration of the produced product with the entire set of fixed assets used in its production. This will be the indicator of output per 1 ruble of the cost of fixed assets (return on assets). To calculate the value of return on assets, the formula is used

where is the return on assets, rubles; - annual output of commercial products, rubles; - the average annual cost of fixed assets:

where is the cost of fixed assets at the beginning of the year; - the cost of the introduced fixed assets during the year; - the cost of retired fixed assets; NS - the number of months from the date of commissioning of fixed assets to the end of the calendar year; T - the number of months from the date of disposal of fixed assets until the end of the calendar year.

Capital intensity production - the reciprocal of the return on assets. It shows the share of the cost of fixed assets attributable to each ruble of manufactured products. If capital productivity should tend to increase, then capital intensity - to decrease.

Indicators of intensive use of fixed assets characterize their use over time.

The coefficient of extensive use of equipment (Ke) is determined by the ratio of the actual or planned number of hours of equipment operation to the effective fund of equipment operation time on average per year

where is the actual (planned) time fund of a piece of equipment on average per year, h; - effective (useful) fund of time for a piece of equipment on average per year, h.

The effective (useful) life of a piece of equipment is calculated as follows:

where is the number of calendar and non-working (weekends and holidays) per year, respectively; - the number of work shifts; - duration of the shift, h; % pr is the percentage of regulated downtime for equipment repairs.

Extensive use of equipment is also characterized by shift ratio its work, which is defined as the ratio of the total number of equipment worked out during the estimated period of machine-tool shifts to the total number of machines:

where is the number of worked-out machine shifts; M is the total number of cars.

Enterprises should strive to increase the shift factor of the equipment, which leads to an increase in output with the same available funds.

The main directions of increasing the shift of equipment operation:

- increasing the level of specialization of workplaces, which ensures an increase in the serial production and loading of equipment;
- increasing the rhythm of work;
- reduction of downtime associated with shortcomings in the organization of maintenance of workplaces, providing machine operators with workpieces, tools;
- the best organization of repair work, the use of advanced methods of organizing repair work;
- mechanization and automation of labor of basic and especially auxiliary workers. This will free up labor and transfer it from heavy auxiliary work to main work in the second and third shifts.

Equipment intensive use ratio is determined by the ratio of the actual (planned) volume of production on the main technological equipment to its capacity. To calculate this indicator, use the formula

where Uf (p) is the actual (planned) volume of production.

Integral equipment utilization factor characterizes its use in terms of time and power at the same time and is defined as the product of the coefficients of intensive and extensive use of equipment.

Ways to improve the use of fixed assets

The successful functioning of fixed assets depends on how fully extensive and intensive factors of improving their use are realized. Extensive improving the use of funds implies that, on the one hand, the operating time of the operating equipment in the calendar period will be increased, and on the other hand, the proportion of operating equipment in the composition of all equipment available at the enterprise will be increased.

The most important areas for increasing the operating time of equipment:

- reduction and elimination of in-shift equipment downtime by improving the quality of equipment repair service, timely provision of main production with labor force, raw materials, fuel, semi-finished products;
- reduction of all-day equipment downtime, increase of the shift ratio of its work.

An important way to improve the efficiency of the use of fixed assets is to reduce the amount of unnecessary equipment and the rapid involvement of unidentified equipment in production. The death of a large number of means of labor reduces the possibility of an increase in production, leads to direct losses of materialized labor due to their physical wear and tear, because after long-term storage equipment often becomes unusable. Other equipment in good physical condition turns out to be morally obsolete and is written off as physically worn out. Although the extensive way to improve the use of fixed assets has not yet been fully mastered, it has its limits.

Intensive improving the use of fixed assets presupposes an increase in the degree of equipment utilization per unit of time. An increase in the intensive load of equipment can be achieved by modernizing existing machines and mechanisms, establishing the optimal mode of their operation. Work under the optimal mode of the technological process ensures an increase in production without changing the composition of fixed assets, without increasing the number of employees and with a decrease in the consumption of material resources per unit of production.

The intensity of the use of fixed assets is also increasing through the technical improvement of tools of labor and the improvement of production technology, through the elimination of "bottlenecks" in the production process; reducing the time to achieve the design productivity of equipment, improving the scientific organization of labor, production and management, the use of high-speed methods, advanced training and professional skills of workers.

The development of technology and the related intensification of processes are not limited. Therefore, the possibilities of intensively increasing the use of fixed assets are not limited either.

An essential direction of increasing the efficiency of the use of fixed assets is the improvement of their structure. Since the increase in output is achieved only in the leading shops, it is important to increase their share in the total value of fixed assets. An increase in fixed assets of auxiliary production leads to an increase in the capital intensity of production, since there is no direct increase in output in this case. But without the proportional development of auxiliary production, the main workshops cannot function with full dedication. Therefore, the establishment of the optimal production structure of fixed assets at the enterprise is the most important direction for improving their use.

In a set of measures to improve the use of fixed assets, the correct application of economic levers and incentives is essential. The improvement of operational planning, automated accounting of work and a comprehensive analysis of the use of labor instruments are aimed at the same. The increase in capital productivity is facilitated by the improvement of the qualifications of employees, as well as material and moral encouragement of employees for the careful and efficient use of equipment.

Fixed assets of enterprises, recorded in monetary terms, represent fixed assets. Monetary value of fixed assets is reflected in the accounting at initial, replacement, full and residual value.

There are several types of assessments of fixed assets associated with their long-term participation and gradual wear and tear in the production process by changing the conditions of reproduction during this period: according to the initial replacement and residual value.

The initial cost of fixed assets is the sum of the costs of manufacturing or purchasing funds, their delivery and installation. It is used to determine the rate of depreciation and the amount of depreciation, profit and profitability of enterprise assets, indicators of their use.

Scientific and technological progress affects the change in the conditions and factors of production of fixed assets, and, consequently, the change in their production costs and, accordingly, current market prices and tariffs. Currently, inflation has a primary impact on the current prices and tariffs at which fixed assets are purchased.

Over time, fixed assets are reflected on the balance sheet of the enterprise according to a mixed assessment, i.e. at the current market prices of their creation or acquisition. Thus, the assessment of fixed assets at their original cost in modern economic conditions does not reflect their actual value, and therefore it becomes necessary to revalue fixed assets and bring them to a single cost measure. For this purpose, the assessment of fixed assets at replacement cost is used.

Replacement cost is the cost of reproduction of fixed assets in modern conditions; as a rule, it is established during the revaluation of funds.

As a result of the revaluation of fixed assets, their replacement cost increases sharply and, as a consequence, the financial and economic indicators of the enterprise deteriorate. Therefore, for enterprises whose financial performance may significantly deteriorate as a result of revaluation, depreciation indexation decreasing coefficients are applied.

During operation, fixed assets wear out and gradually lose their original (replacement) value. To assess their real value, it is necessary to exclude the cost of the depreciated part of the funds. This is how the residual value of fixed assets is determined, which is the difference between the original or replacement value of fixed assets and the amount of their depreciation.

There are two types of wear and tear - physical and moral.

Physical wear is understood as the gradual loss of fixed assets of their initial use value, which occurs not only during their operation, but also during their inactivity (destruction from external influences, atmospheric influences, corrosion) Physical wear and tear of fixed assets depends on their quality, their technical improvement ( construction, type and quality of materials, quality of construction of buildings and installation of machines); features of the technological process (values of speed and cutting force, feed, etc.); the time of their validity (the number of days of work per year, shifts per day, hours of work per shift), the degree of protection of fixed assets from external conditions; the quality of maintenance of fixed assets and their maintenance, from the qualifications of workers and their relationship to fixed assets.

Physical wear and tear occurs unevenly even for the same elements of fixed assets. Distinguish between full and partial depreciation of fixed assets. When fully worn out, existing assets are liquidated and replaced with new ones (capital construction or current replacement of worn out fixed assets). Partial wear and tear are reimbursed through repairs.

The physical deterioration of fixed assets can be calculated by the ratio of the actual service life to the standard, multiplied by 100. The most correct method is to examine the condition of the object in kind.

Obsolescence is a decrease in the cost of machinery and equipment under the influence of a reduction in socially necessary costs for their reproduction (obsolescence of the first form); as a result of the introduction of new, more progressive and cost-effective machinery and equipment (obsolescence of the second form). Under the influence of these forms of obsolescence, fixed assets become backward in terms of their technical characteristics and economic efficiency.

In modern conditions, accounting for obsolescence is becoming increasingly important. The emergence of new, more advanced types of equipment with increased productivity, better service and operating conditions often makes it economically feasible to replace old fixed assets even before they are physically worn out. Untimely replacement of obsolete equipment leads to the fact that more expensive and poorer quality products are produced on it in comparison with those produced on more advanced machines and equipment. This is completely unacceptable in a competitive market.

The main source of covering the costs associated with the renewal of fixed assets, in the transition to market relations, self-financing of enterprises are the own funds of enterprises. They accumulate over the entire service life of fixed assets in the form of depreciation charges.

In everyday practice, fixed assets are accounted for and planned at historical cost. It represents the cost of acquiring or creating fixed assets. Machines and equipment are accepted on the balance sheet of the enterprise at the price of their purchase, including the wholesale price of this type of labor, delivery and other procurement costs, installation and installation costs. The initial cost of buildings, structures and transmission devices is the estimated cost of their creation, including the cost of construction and installation work and all other costs associated with the implementation of work to put this object into operation.

Over time, fixed assets on the balance sheet of an enterprise are accounted for at a mixed estimate, i.e. at current prices and tariffs of the year of their creation or purchase.

Assessment of fixed assets at historical cost is needed to determine the amount of fixed assets assigned to a given enterprise.

The replacement cost expresses the cost of reproduction of fixed assets at the time of their revaluation, i.e. it reflects the costs of acquiring and creating means of labor in prices, tariffs in force during the period of revaluation of their reproduction.

To determine the replacement cost, fixed assets are regularly revalued using two main methods:

1) by indexing their book value;
2) by direct recalculation of the book value in relation to the prices formed on January 1 of the next year.

With their help, it is possible to achieve a uniform assessment of the fixed assets of industry in accordance with the modern cost of their restoration, which makes it possible to more accurately establish wholesale prices for means of production, lending for capital investments.

The full value of fixed assets (book value) is calculated without taking into account the value that is transferred in parts to finished goods.

Residual value is the difference between the original cost and the accrued depreciation (the value of fixed assets not transferred to the finished product). It allows you to judge the degree of depreciation of labor instruments, plan the renewal and repair of fixed assets. There are two types of residual value:

1) it is determined at the initial cost, determined as depreciation is charged;
2) at the replacement cost, determined by expert advice in the process of revaluation of means of labor.

The main production assets, participating in the production process, transfer their value in parts to the finished goods produced or services rendered. The monetary expression of the transferred part of the value of fixed assets is called depreciation. Depreciation is carried out to accumulate the necessary funds for the subsequent restoration and reproduction of fixed assets. Depreciation charges are included in the cost of goods and are realized when they are sold. The amount of depreciation deductions (as a percentage of the book value of fixed assets) is the depreciation rate (set on the basis of cost reimbursement and accumulation of funds for their subsequent full and partial restoration). The depreciation rate represents the ratio of the annual amount of depreciation to the initial cost of any means of labor, expressed as a percentage, and is calculated using the formula:

where: Fb - book value;

Fl - liquidation value;

Тн is the standard service life of the means of labor.

The level of depreciation depends on each component of this formula, but the main value is the standard service life of the means of labor. The lower limit of the depreciation rate is the period of wear and tear of the means of labor, at which subsequent overhaul becomes unnecessary. The upper limit of the depreciation rate is due to the shortest service life of fixed assets, at which the economic effect of replacing existing assets with new ones exceeds the efficiency of their modernization and repair.

Depreciation of fixed assets and intangible assets under the 1997 Law of Ukraine "On Taxation of Enterprise Profits", Article 8, is interpreted as a gradual attribution of costs for their receipt, production or improvement to reduce the adjusted profit of a taxpayer within the limits of depreciation deductions established by this Law.

Depreciation is a way of accumulating funds for the reproduction of fixed assets.

The amount of depreciation deductions (AB) is determined by the formula:

where: Фn - the cost of fixed assets,

Na is the rate of depreciation deductions as a percentage.

Depreciation methods:

Straight-line method, that is, depreciation is charged in equal parts over the years of the term of service.

The double-declining balance method is a depreciation method at a rate that is twice as fast as the straight-line depreciation method. In this case, depreciation is applied not to the original cost, but to its balance after write-offs in previous years.

Accelerated depreciation method - intended for fixed assets that belong to the third group of fixed assets, acquired after 1.01.99, and which are sent for the production of products with prices unregulated by the state. Accelerated depreciation rates:

1st year - 15%
2nd year - 30%
3rd year - 20%
4th year - 15%
5th year - 10%
6th year - 5%
7th year - 5%

The sum of years method is based on maximizing the rate of deductions in the first years of using fixed assets with their gradual decrease and minimization in the following years. In this case, depreciation deductions are annually reduced by a constant amount, which is called the difference.

Depreciation (depreciation) method, a cumulative method, in which the depreciation amount is distributed over the years during the standard operating life of an item of fixed assets through a cumulative number. The capitalization ratio consists of several components: risk-free rate, risk premium, low liquidity premium, investment management premium, compensation fund factor

Accrual of depreciation in proportion to the volume of production - the method of calculating depreciation based on the natural indicator of the volume of production in the reporting period and the ratio of the initial cost of the object and the estimated volume of production for the entire useful life of the object of fixed assets.

The half year principle is a depreciation method whereby all assets purchased during the year are depreciated as if they were purchased in the middle of the year.

Since July 1, 2000, accounting of fixed assets has been regulated by the Regulation (standard) of accounting 7 "Fixed Assets".

All indicators of the use of fixed assets are combined into three groups:

* indicators of extensive use of fixed assets, reflecting the level of their use over time;

* indicators of intensive use of fixed assets, reflecting the level of their use in terms of capacity (productivity);

* indicators of integral use, taking into account the cumulative influence of all factors.

The first group of indicators includes: the coefficient of extensive use of equipment, the coefficient of equipment shift, the coefficient of equipment utilization, the coefficient of the shift mode of the operating time of the equipment.

An important task of the national economy is to increase the utilization of fixed assets. The effectiveness of their use is characterized by a number of indicators. Indicators of the use of fixed assets in mechanical engineering are divided into two groups - generalizing and private.

The efficiency of the use of fixed assets in industry is determined by natural and cost indicators. General natural indicators:

* coefficient of the cost of equipment operation;

* indicators of equipment loading;

* the coefficients of using the fund of working time, the use of equipment for machine and auxiliary time.

Partial natural indicators give a one-sided characteristic of the efficiency of fixed assets, therefore they resort to cost indicators:

* capital productivity;

* capital intensity;

* capital-labor ratio.

Generalizing indicators depend on many technical, organizational and economic factors and express the final result of the use of fixed assets. These include capital productivity and capital intensity.

Return on assets for an enterprise or industry is determined by the ratio of commodity, gross or net, output to the average annual value of fixed assets. The rate of return on assets (output per 1 hryvnia of fixed assets) is calculated by the formula:

Ф ф = N B / Ф cf. , (1.3)

where: N B - annual output of marketable (gross), net production, UAH;

F Wed - the average annual cost of fixed assets, UAH.

The higher the return on assets, the better the fixed assets are used. The inverse of the rate of return on assets is called capital intensity and is the amount of fixed assets (in value) attributable to each hryvnia of manufactured products:

Private indicators characterize the level of use of fixed assets, depending on individual factors, for example, time, capacity (per unit of time), the degree of renewal.

The coefficient of extensive equipment utilization characterizes the level of its use in time and is determined for each group of the same type of equipment according to the formula:

k e.d. = F f.o. / F n. , (1.4)

where: F f.o. - time actually worked by the equipment, h;

F p. - the time of possible use of the equipment (regime, planned or actual fund of time), h;

One of the important indicators of equipment utilization is the shift ratio. The actual shift factor of the equipment is determined by the ratio of the number of machine shifts worked by the equipment of the enterprise, workshop per day, the number of installed equipment:

k o.m. = (h 1 + h 2 + h 3) / с 0, (1.5)

where: h1, h2, h3 is the number of actually worked machine shifts in shifts I, II and III;

с0 - the total number of machines and equipment at the disposal of the enterprise, workshop.

The shift ratio is currently not high enough. An increase in the shift ratio, even by a small amount, allows many enterprises to produce more products. In mechanical engineering, constant work is being carried out to increase the shift ratio and increase the number of hours of equipment operation.

The level of utilization of machinery and equipment in terms of power and productivity is characterized by the coefficient of intensive use, which in general form is calculated by the formula:

k r.m. = t tech / t fact, (1.6)

where t tech is a technically justified rate of time per unit of production (work);

t fact - actually spent time to change the unit of production (units of work).

The intensity of equipment loading is also characterized by the coefficients of its use in terms of machine time k m and power capacity k em. :

k m = t m / t pcs. ; k em = (M fakg - M h.x.) / M eff. , (1.7)

where: t m - machine time (in general);

t pcs. - piece time rate; Mfact - the actually used capacity of the equipment for the execution of the technological process;

Мх.х. - power consumed at idle;

M eff is the effective power of the equipment, equal to the product of the engine (drive) power by the efficiency (6).

Fixed assets are tangible assets that act in unchanged natural form for a long period of time and lose their value in parts as they wear out, are reimbursed only after several production cycles.

Fixed assets form the basis of the material and technical base of the organization, determine its technical level, range, quantity and quality of products, work performed, services rendered. Their composition reflects various material values used as means of labor in kind for a long time in the production of products, in the performance of work, in the provision of services or for the management needs of the enterprise. These funds must generate income for the company and cannot be used for resale.

The sources of the formation of the fixed assets of the enterprise are its financial resources. So, when an enterprise is founded, fixed assets are formed at the expense of the authorized capital. In the future, in the course of the enterprise's activities, fixed assets are replenished and updated at the expense of sales income and non-operating income.

The sources of the formation of fixed assets can also be loans, subsidies, etc.

The cost of fixed assets often constitutes a significant part of the total value of an organization's property, and due to their long-term use in the organization's activities, fixed assets over a long period of time have an impact on the financial results of activities.

The basic production assets of enterprises make an economic cycle, which consists of the following stages: depreciation of fixed assets, depreciation, accumulation of funds for the complete restoration of fixed assets, their replacement by making capital investments.

Any objects of fixed assets are subject to physical and moral deterioration, i.e. under the influence of physical forces, technical and economic factors, they gradually lose their properties, become unusable and can no longer perform their functions. The physical deterioration is partially restored through the repair, reconstruction and modernization of fixed assets. Obsolescence is manifested in the fact that outdated fixed assets in their design, productivity, efficiency, quality of products are lagging behind the latest models. Therefore, periodically there is a need to replace fixed assets, especially their active part.

A distinctive feature of fixed assets is their repeated use in the production process, preservation of the original appearance for a long period.

Under the influence of the production process and the external environment, they wear out gradually and transfer their initial value to the cost of finished products during their standard service life by charging depreciation at established rates. This transfer takes place in such a way that during the period of operation of fixed assets, they are reimbursed.

Reimbursement of fixed assets by including part of their value in the cost of output or work performed is called depreciation. This is a monetary expression of physical and moral depreciation of fixed assets. It is carried out with the aim of accumulating funds for the subsequent full or partial reproduction of fixed assets. The amount of depreciation deductions depends on the cost of fixed assets, the time of their operation. All fixed assets are subject to depreciation, except for land.

The amount of value included in production costs through depreciation is depreciation expense.

Depreciation deductions are made on the basis of depreciation rates, which are set for each type of fixed assets. They are determined by referring the amount of annual depreciation deductions to the cost of fixed assets.

Accounting for fixed assets is determined not only by the need to know what fixed assets and in what volume the enterprise has, but also by the requirements of the production economy. This is due to the fact that the share of fixed assets in the total amount of funds at the disposal of the enterprise reaches 70% or more. Consequently, the development of its economy depends on how they are used.

Accounting and planning of fixed assets is carried out in kind and in cash.

When evaluating fixed assets in kind, the number of machines, their productivity, capacity, the size of production areas and other quantitative values are established. These data are used to calculate the production capacity of enterprises and industries, planning the production program, reserves for increasing the production of equipment. For this purpose, inventory and certification of equipment, accounting for its disposal and arrival are being carried out.

For a more complete characterization of the state of the means of labor, certification of each workplace should be carried out, which is a comprehensive assessment of its compliance with regulatory requirements and best practices in such areas as the technical and economic level, working conditions and safety precautions. This form of accounting allows you to determine not only the material structure of fixed assets, but also their technical level, to draw up a balance of equipment.

Fixed assets of enterprises, recorded in monetary terms, represent fixed assets .

The procedure for classifying objects as fixed assets and their composition is regulated by legislative and other normative acts. To identify the assets of an organization as fixed assets, it is necessary to take into account their definitions contained in the accounting regulations, taking into account that these definitions have some differences.

Fixed assets are recognized as such at the moment of their acceptance for accounting.

According to clause 46 of the Regulation on accounting and financial reporting in the Russian Federation, fixed assets are a set of tangible assets used as means of labor in the manufacture of products, performance of work or the provision of services, or for managing an organization for a period exceeding 12 months , or a normal operating cycle if it exceeds 12 months.

In the normative acts that directly regulate the organization of accounting of fixed assets, there is no condition on the material content of an asset when it is recognized as an object of fixed assets.

In these documents, fixed assets are understood as assets that the organization does not intend to resell, which are capable of bringing economic benefits to the organization and are used by the organization for the production of products, performance of work, provision of services or for management needs for a long time ("useful life") exceeding 12 months or a normal operating cycle if it exceeds 12 months.

The final decision on which items and objects to take into account in the composition of fixed assets is made by the head of the organization, depending on the nature and conditions of its economic activity. Usually it is taken not for each subject separately, but in relation to a group of objects and is drawn up as an element of the accounting policies of organizations.

Monetary, or value, assessment of fixed assets is necessary to determine the total value of fixed assets, their dynamics, structure, planning extended reproduction of fixed assets, determining the degree of wear and the amount of depreciation deductions, economic efficiency of capital investments, i.e. without which it is impossible to judge the state of the enterprise's economy.

There are several types of assessments of fixed assets associated with their long-term participation and gradual wear and tear in the production process, changes in the conditions of reproduction during this period: in terms of initial, replacement and residual value.

Over time, fixed assets are reflected on the balance sheet of the enterprise according to a mixed assessment, i.e. at current market prices: creation or acquisition. Thus, the assessment of fixed assets at their original cost in modern economic conditions does not reflect their actual value, and therefore it becomes necessary to revalue fixed assets and bring them to a single cost measure. For this purpose, the assessment of fixed assets at replacement cost is used.

Replacement cost is the cost of reproduction of fixed assets in modern conditions; as a rule, it is established during the revaluation of funds.

During operation, fixed assets wear out and gradually lose their original value. To assess their real value, it is necessary to exclude the cost of the depreciated part of the funds. This is how the residual value of fixed assets is determined. , representing the difference between the original or replacement value of fixed assets and the amount of their depreciation.

Thus, the material base of the enterprise is formed by means of labor and objects of labor, which are combined into means of production. Labor instruments are accounted for in the form of fixed assets. Fixed assets in value terms represent fixed assets recorded in the accounting system. Depending on the purpose, fixed assets are divided into fixed production and fixed non-production assets. Fixed assets include those fixed assets that are directly involved in the production process or create conditions for the production process. The main non-production assets are the objects of the enterprise for cultural and domestic purposes, medical institutions, canteens, etc. Not all elements of the PPPF play the same role. Some of them are directly involved in the production process and therefore they are referred to the active part of the OPPF. Others ensure the normal functioning of the production process and represent the passive part of fixed assets. Also, OPPFs are divided according to the principle of functional and specific composition, by affiliation and depending on the sectors of the economy.