Assessing innovations in inventory and fixed-asset accounting: Controversial issues and prospects for their solution

Subject. This article focuses on the issues associated with innovations in the regulation of accounting for inventories and fixed assets. Objectives. The article aims to identify the prospects for solving problematic issues of statutory regulation of accounting for inventories and fixed assets. Methods. For the study, I used critical analysis, synthesis, comparison, observation, and the method of analogy. Results. The article identifies the positive and controversial aspects of the innovations of Federal Accounting Standards (FSBU) 5/2019, (FSBU) 6/2020 and (FSBU) 26/2020 in relation to the valuation of inventories and fixed assets received free of charge in exchange for non-monetary assets, and made on account of contributions to the authorized capital, as well as in relation to the formation of the cost of inventories and fixed assets. The article substantiates the positive and problematic aspects of the new rules for the revaluation of fixed assets, accounting for their impairment and depreciation, as well as accounting for low-value fixed assets, and proposes ways to solve the problematic aspects of the considered regulations. Conclusions and Relevance. All the innovations considered in the article have both positive and debatable aspects, while the debatable aspects can be solved in the process of further reforming Russian accounting. The results obtained have both applied and theoretical areas of application in the field of financial accounting.