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Revaluation of Fixed Assets

According to the standard number 7 of Accounting "Fixed Assets": "A company may overestimate the fixed asset if the residual value of the object differs significantly from its fair value at the balance sheet date. In case of revaluation of fixed assets at the same date the revaluation of all objects of fixed assets, which belongs to the object, is made. Revaluation of fixed assets of that group, which objects have suffered through in the future, should be made with such regularity that their residual value on the balance sheet date is not materially different from fair value. "

Classification of fixed assets

For accounting purposes, fixed assets are classified into the following groups:

1. Fixed Assets
1.1. Plots.
1.2. Capital costs for land improvement.
1.3. Buildings, structures and transmission devices.
1.4. Machinery and equipment.
1.5. Vehicles.
1.6. Tools, equipment, inventory (furniture).
1.7. Animals.
1.8. Perennial plantings.
1.9. Other fixed assets.

2. Other non-current assets
2.1. Library funds.
2.2. Low value non-current assets.
2.3. Temporary (denotified) facilities.
2.4. Natural Resources.
2.5. Inventory containers.
2.6. Subjects of hire.
2.7. Other non-current assets.

3. Incomplete capital investments



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