Social Sciences
2 years ago

New accounting rules require companies to include dismantling costs in assets.

Buhuchet v sel skom hozjajstve (Accounting in Agriculture)
Change in estimated liabilities for the dismantling of fixed assets
Lyudmila Sotnikova

Paper Summary

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The article discusses how companies calculate and account for the costs of dismantling fixed assets. Starting in 2022, it became mandatory to include these estimated costs in financial reports. Some large Russian companies have already been voluntarily including these costs, especially for assets that need to be dismantled and the environment restored. The process of estimating and updating these costs can be challenging.