Methodological problems of accounting of fixed assets

Accounting practices started to integrate as foreign investments was introduced inthe practice of Uzbekistan. Current accounting system included new conditions and principles.Moreover, new methods of accounting procedures, accounting records of transactions, and typesof statements were also introduced. Accounting has presently advanced to effectively take partnot as it were within the operations of economic entities but too within the checking, enlistment,examination, and collection of data on activities happening inside companies. After introducingnew terminologies for accounting, and implementing new principles and methods, different typesof accounting evolved, like financial accounting, management accounting, and cost accounting.This article focuses on one of the fundamental components of production accounting, which isthe enhancement of accounting of fixed asset. It examines issues related to the advancement ofaccounting for unused non-current assets in Uzbekistan, considering the specific characteristicsof economic entities. Recommendations for enhancement of forming the accounting policy inenterprises are provided. Additionally, a methodology for checking unused non-current assets andidentifying the tax base of property tax related in unused non-current assets is recommended. A newaccounts and a method to identify the book value of non-current assets for seasonal enterprisesare also proposed.