CLASSIFICATION OF PROPERTY, PLANT AND EQUIPMENT OF PUBLIC INTEREST ENTITIES

Abstract

Introduction. Modern conditions for the development of economic activity have long gone beyond the borders of Ukraine, there is an increase in the number of entities that apply international accounting and reporting standards for their financial reporting. This influenced the introduction of regulatory innovations in Ukraine and the emergence of a specific economic category "public interest entity". Which require developments in the accounting and reporting process of such entities, in particular the classification and accounting of property, plant and equipment. Purpose. The purpose of the article is to development the classification of property, plant and equipment of public interest entity. Methods. Among the general scientific methods used to achieve the goal of the article, the following were used: an analytical method – for decomposing public interest entities on types in order to provide descriptions that allow them to be linked, classification method – for creating a classification of property, plant and equipment of a public interest entity, logical method – in the construction of research results. Results. The interpretation of the definition of "public interest entity" in national and international normative documents on accounting and auditing was studied. An overview of the definition of the term "public interest entity" in European countries was made and other public interest entity defined at the national level were highlighted. The definition of property, plant and equipment according to international accounting standards was studied and a comparison with national standards was made. The peculiarities of environmental and social assets are considered and taken into account. Conclusion. The classification of property, plant and equipment of public interest entities was developed according to the following features: form of appearance, groups, valuation model, cost transfer, nature of operation, level of aggregation, way of obtaining benefits from use, purpose of forming integrated reporting, need for improvement. This classification is the basis for these business entities, which can carry out its further development in connection with the requirements of all users of accounting information.