Issue №: 2(42)
The magazine deals with the problems of the agricultural sector of the economy in the context of integration and processes of globalization. Attention is paid to the issues of development of digital economy, rural territories, technologies of enterprise management and organization of accounting, problems of legal support of economic processes, market tendencies of development of various branches of economy. Particular attention is paid to green tourism as a promising segment of the national economy.
KEY ISSUES OF ACCOUNTING FIXED ASSETS MANAGEMENT OF OIL AND GAS ENTERPRISES: ANALYSIS OF FEATURES, COMPOSITION AND VALUATION
KAFKA Sofia – Doctor of Economic Sciences, Associate Professor, Head of the Accounting and Taxation Department, Ivano-Frankivsk National Technical University of Oil and Gas (76019, 15 Karpatska St., Ivano-Frankivsk, Ukraine, e-male: Kafka@i.ua).
The article deals with the key issues concerning the system of security of fixed assets at the enterprises of the oil and gas industry. The purpose of the article is to investigate the fixed assets features and composition at the the enterprises of oil and gas industry, to determine the approaches to their assessment at the stage of their receipt by the enterprise. The state, dynamics of value and the degree of depreciation of fixed assets in Ukraine for the year 2017 have been analyzed, their features have been distinguished at the enterprises of different branches of the economy. To ensure the effective operation of the enterprises of the oil and gas industry, significant assets are required, and the results of their activities to a large extent depend on the availability and condition of fixed assets that ensure economic sustainability of economic entities. Oil and gas companies include pipelines and related equipment in fixed assets, oil and gas assets, machinery and equipment, buildings, buffer gas, drilling and reconnaissance equipment and other fixed assets. Among the assets of NJSC "NAFTOGAZ OF UKRAINE" for the year 2017, non-current assets occupied 86% of the total assets of the company, of which 94% were fixed assets, what determines the reliability of their accounting as an important element of effective management of enterprises. The dynamics of value and composition of fixed assets of enterprises of the oil and gas industry of Ukraine for 2016-2017 have been determined according to separate economic segments. The cost of fixed assets of NJSC "NAFTOGAZ OF UKRAINE" as of December 31, 2017 amounted to UAH 491 482 million, respectively, according to economic segments, it is structured in such a way that their largest share is concentrated in the system of transportation and distribution of natural gas - almost 48%, for storage of natural gas - 34%, production and sale of natural gas - 12%, and the rest belongs to the economic activities related to oil: the production of crude oil and gas condensate, transportation of crude oil. The composition of fixed assets of extractive enterprises differs from their composition in refineries. Industrial features of mining industry with significant volumes of work related to the disclosure of layers of minerals are characteristic to chemical production with a significant cost of equipment. The main approaches to the evaluation of fixed assets objects at the stage of their entrance to the enterprise have been investigated. The reliability of the accounting information on fixed assets depends on their assessment. When they are received, they are valued at their original cost, that is, by the amount of cash paid or their equivalents or fair value, another form of indemnity granted to obtain the asset at the time of its acquisition or creation, or, if accepted, the amount that is distributed to that asset in the original recognized in accordance with the specific requirements of other IFRSs. After recognition, the entity should choose either a cost model or a revaluation model in its accounting policies and should apply this policy to the entire group of fixed assets. A cessation of recognition occurs after the release of an object or when it does not expect future economic benefits from its use or disposal. In this case, it is recognized as profit or loss.
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About the journal
С1 Economics and International Economic Relations (by specialization)
D1 Accounting and Taxation
D2 Finance, Banking, Insurance and Stock Market
D3 Management
D4 Public Management and Administration
D5 Marketing
D7 Trade
J3 Tourism and Recreation
Founded in 1997 under the name ”Bulletin of Vinnytsia State Agricultural Institute”. In 2010-2014 it was published under the name “Collection of Scientific Papers of Vinnytsia National Agrarian University”. Since 2015 “Economics, finance, management: current issues of science and practical activity” (Certificate of State Registration of Mass Media No. 21154-10954 PR dated 12/31/2014).
