ACCOUNTING OF INVESTMENT PROPERTY: COMPARATIVE ANALYSIS OF AR(S) AND IAS

Abstract

Purpose. Comparative analysis of the accounting regulation of investment property in accordance with the requirements of national accounting (accounting) standards and international accounting standards, determine common and distinctive features between them. Methodology of research. To achieve the purpose of this paper following methods have been applied: comparison (in establishing common and distinctive features of accounting regulation of investment property); grouping and systematic approach (when systematizing regulatory documents regulating the issues of accounting for investment property); details (for the establishment of objects that are not considered investment property). Findings. A comparative analysis of the provisions of national and international accounting standards has been carried out in terms of determining the content, recognition, appraisal and accounting of investment property. The common and distinctive features of the regulation of accounting of investment property in national and international accounting standards are determined. In particular, it was discovered that the common provisions in these standards are: definition of the content of the concept of "investment property" as an object of accounting; establishment of a list of objects that are not considered investment property, and excellent recognition in the accounting of investment real estate as an asset; the establishment of criteria for delimitation when an item of fixed assets can be assigned at the same time to operational and investment real estate. Originality. The main common and distinctive features of the accounting regulation of investment property are systematized, which in aggregate will provide solution at the theoretical and applied levels of the complex of tasks connected with the improvement of the organization and methods of accounting for property transactions. Practical value. The results of the research can be used in making of managerial decisions regarding the assignment of property to investment property and the development of enterprise accounting policies. The established common and distinctive features of accounting regulation of investment property allow us to recognize the positive international experience that should be applied in reforming legislative acts regulating.