Audit and economical analysis

Table 60

Classification aspects of basic tools

	Classification aspects
Basic tools	fixed assets - tangible assets held for use by the enterprise for long-term economic activity in the course of production, works or services, or for the use of administrative and socio-cultural tasks
Depreciation	value of depreciation in the form of regular distribution and transfer of the amortized cost of an asset into the cost of the goods (works, services), based on the function of the fixed assets during the useful life
Useful service life	the amount of goods (works and services) that an entity expects to use for the asset, or the entity intends to use the asset. The duration of useful life for fixed assets included in commissioning, completion, completion, modernization and technical re-equipment of equipment, complete with construction, completion of these works is included is the period of time when the enterprise expects the basic means to be used, or the amount of goods (works, services) that the enterprise expects to obtain from the use of these fixed assets
Initial value	with respect to taxes, fees and charges applicable to the supply and installation, installation, start-up and other expenses that are directly related to the payment of taxes paid and non-indemnified tax (s) the cost of repairs (construction and completion) of fixed assets or the cost of procurement
Current value	the value of the underlying market value of a specific date or the amount sufficient to make the arrangement between the independent parties willing to engage in a transaction,
Residual value	the starting (recovery) value of fixed assets, deducting the accumulated amortization sum
Stop value	the estimated amount of assets that will be deducted at the end of the expected useful life at the end of the expected useful life

When accepting assets as non-material assets by accounting, simultaneously, the following conditions must be met:

a) lack of physical and material properties;

b) the duration of the useful life of the asset exceeding 12 months for the production of goods (for performance of works or services) or for the administrative or other functions of the enterprise, or the duration of the useful life of the enterprise exceeding 12 months should be used. At the same time, the value of the asset is at least fifty times the minimum wage established by the Republic of Uzbekistan for one unit (total). The head of the enterprise shall also be entitled to set in the structure of intangible assets a lesser amount of assets for accounting purposes;

c) the entity does not intend to sell the asset at a later date;

d) reliability, ie availability of duly certified documents (patents, certificates, other protecting documents, patent, contract of acquisition), confirming existence of an asset and exclusive right to it.