OREANDA-NEWS. July 29, 2009. Irina Yutskovskaya, Director of the Accounting Advisory Department, FBK and Natalya Yaschinskaya, Lead Expert of Valuation Department, FBK took part in partner conference of internet portal “1C:Consulting”. On-line they were answering questions of 1C user-partners, associated with primary recognition and further valuation of the entity’s assets, reported the press-centre of FBK.

In the framework of the conference FBK experts answered in details the questions on procedure for revaluation of assets and booking assets cost variation in financial statements (http://www.fbk.ru/library/orfo_library/). So there was set a question whether financial investments in capital of subsidiaries should be depreciated. According to Irina Yutskovskaya the fact that the issuer is a subsidiary of share holder does not exempt organization from booking their cost.
 
Conference participants also wondered how time differences and deferred taxes that occurred due to transactions referred to capital should be treated. Irina Yutskovskaya drew attention to the fact that entities can set order for reflecting tax consequences of such economic transactions by economic policy independently. Russian organizations, Irina Yutskovskaya notes, are recommended the way where entity recognizes deferred tax in the period of revaluation of fixed asset at the expense of the same capital items at which expense the very revaluation is recognized – additional capital or retained earnings.
 
One question of users concerned features of revaluation of property located on rented land plot. When answering it Natalya Yaschinskaya noted that expenses for purchase of tenant right to land plot are only one component of structure of cost of fixed asset (real estate unit). According to her words, when revaluating real estate units located on rented land plot, when entity does not allot cost of tenant right to separate accounting item, market cost of real estate unit, determined as result of revaluation should include cost of tenant right to land plot.

Participation in partner conference “1C:Consulting” logically continued research of complicated and vexed matters in revaluation of fixed assets which FBK experts conducted in June 2009.