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Encyclopedia of accounting - Grachev RE
Section II Part 1
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Encyclopedia of accounting - Grachev RE Section II Part 1
Gratuitous receipts and gratuitous disposal of the OS
Before we take account of (to put on the balance sheet) fixed assets received free of charge, it should be assessed at fair value.
Quote from P (C) BU 7: "10. The initial value of gratuitously received fixed assets is equal to their fair values at the date of receipt ".
As is known from P (S) BU 19, fair value - is the amount by which it is possible to carry out an exchange of assets between knowledgeable, willing and independent parties. Thus, it should be understood that the fair value can be equated to a market. The market value of the asset at the time of posting it on the balance sheet is determined by examining the market prices of similar objects with the same level of wear.
plant and equipment problems with the evaluation does not occur with the donation of objects. After each object is eliminated from the balance sheet, already has quite a reliable estimate. And the cost will be a major part of the costs incurred by the company in connection with such disposal.
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