THE ANALYSIS OF APPROACHES TO THE ESSENCE AND CLASSIFICATION OF FIXED ASSETS

Stupnytska T. Ph.D., Associate Professor Department of Accounting and Auditing E-mail: t.stupnitska@gmail.com Yevtushevska O. PhD, Associate Professor Department of Accounting and Auditing E-mail: olga163alex@gmail.com Pryimak V. The student of the fourth grade of Economy, Business and Control Faculty Odessa National Academy of Food Technologies Kanatna str., 112, Odessa, Ukraine, 65039 E-mail: priymak_vika@hotmail.com

Statement of the problem and its connection with important scientific and practical tasks. The main task of Ukrainian enterprises is to increase the efficiency of using the material and technical base of the enterprise in the conditions of acute shortage of investment resources. Therefore, enterprises need to invest their capital in long-term tangible assets. Effective use of them enables to increase production and influence on the final financial result of an enterprise. To do this, management of enterprise needs to implement control over the effective use of fixed assets. The necessary element of the organization of accounting and control of fixed assets is their economic definition and classification. One of the factors of the analysis is classification of fixed assets by various features. And choice of the correct criterion for classification affects the quality of the analysis.
Forming of the aims of the research. The purpose of the article is to analyze definition of the concept, economic content and classification of the category "fixed assets" according to regulatory and normativelegal acts, which is used in the field of Ukrainian legal field and in economic literature. Choice of the criterion for the classification of fixed assets leads to improved accounting practices in enterprises and influences the implementation of qualitative analysis.
Giving an account of the main results and their substantiation. Fixed assets are used by all economic entities to carry out their activities.
The concept of "fixed assets" is interpreted differently in contemporary research by domestic scientists. There are some differences in the normative-legal acts regarding the interpretation of this concept. Therefore, it is expedient to consider this issue in two directions: in accordance with the requirements of regulatory framework and scientific approach.
In Ukraine, the issue of accounting for fixed assets is regulated by such basic normative acts as the Tax Code of Ukraine [1] and the Regulation (Standard) of

ISSN 2312-847X
ЕКОНОМІКА ХАРЧОВОЇ ПРОМИСЛОВОСТІ Том 10, Випуск 2/2018 Accounting 7 "Fixed Assets" [2]. Today, most business entities are moving to the international accounting standards, so it is worth analyzing the essence of fixed assets in accordance with International Accounting Standard 16 "Fixed Assets" (Table 1). Table 1 The essence of the concept of "fixed assets" by normative -legal acts* Normative document Definition of fixed assets Tax Code of Ukraine [1] tangible assets, including mineral deposits for use in the subsurface areas designated by the taxpayer for use in the economic activity of the taxpayer the value of which exceeds 6000 UAH and is gradually reduced due to physical or moral depreciation and the expected useful life (exploitation) of which is more than one year from the date of commissioning.
R(S)AC 7 «Fixed assets» [2] long-term tangible assets that the enterprise uses for their use in the process of producing goods, rendering services, leasing to other persons, expected useful life (exploitation) of which is more than one year.
ISAC 16 «Fixed assets» [3] material objects used in the production or supply of goods or services, for leasing to other people or for administrative purposes, and are expected to be used in more than one reporting period. * Сompiled by the authors on the basis of source analysis After analyzing normative -legal acts, one can conclude that under "fixed assets" long-term tangible assets that should be used for more than one year. Only in Tax Code of Ukraine are meant a value criterion, is allo-cated according to which the non-current asset is included in the fixed assets.
In the economic literature there is also no single approach to the concept of the category "fixed assets" ( Table 2).
Тable 2 Definition of the category "fixed assets" in the economic literature* Author, source Definition of fixed assets Agres О.G. [4, p. 178] means of labor in the form of tangible assets that enterprise holds for use in the production process or the implementation of administrative or socio-cultural functions, the expected useful life of which is more than one year, without changing their forms and sizes, the cost of which is not less from the legal size and is gradually transferred to the extent of physical agitation and (or) moral aging on the value of finished goods by deducting depreciation Babich V. [5, p. 11] a set of means of labor, which function in the field of material production in the unchanged natural form for a long time and transfer their value to the newly created product in parts as they wear out.
Fixed assets -tangible assets held by an enterprise for the purpose of their use in the process of production or supply of goods, provision of services, leasing to other persons or for carrying out administrative and socio-cultural functions, the expected useful life (exploitation) of which is more than one year ( or operating cycle if it exceeds one year) Grechko S.М. [9, p. 24] non-current asset that is intended for economic activity, that is, is planned to be used in economic activity Kovaliov D. [11, p. 13] tangible assets that the enterprise generates in order to use them in the process of production or supply of goods, provision of services, leasing to other persons or for the implementation of administrative and socio-cultural functions and the expected useful life of which exceeds a year.
Nemish Yu.B. [13, p. 66] value of resources held by the entity for use in the production process, supply of goods and services, leasing to other persons or for implementation of socio-cultural functions, the expected life of which is at least one year, or determined by the limits of the operational cycle of more than one year, the cost of which decreases during use Pyrizhok Ye. [14, p. 397] tangible assets that the company holds in order to their use in the production or supply of goods, services, to lease to other persons or to carry out administrative and socio-cultural functions; estimated useful life (operation) is more than one year (or operating cycle , if it exceeds a year). Suk L.К., Suk P.L. It is clear from Table 1 that the majority of authors [6; 11; 12; 13; 14] took as a basis, the concept included in the normative legal acts of Ukraine, and modified it depending on the purpose of research and management of the enterprise activity.
Some authors, namely Grechko S.M., pay attention to the fact that "... fixed assets are needed for the future economic benefits of enterprises associated with the use of this object in the economic activity." [8, p. 24]. And Yalovegha L.V. determined that "fixed assets are needed for production in order to turn the subject of labour into a finished product". [19, p. 463] It is also worth noting that an important criterion for the recognition of the object of fixed assets, as scientists consider, is the term of their useful use, which lasts more than one year or the operating cycle, if it is more than one year. In our opinion, this position is correct, since enterprise buys or leases a fixed asset for long-term exploitation during the economic activity.
The necessary element for improving the organization of accounting of fixed assets is their classification. Its focus on all sectors of the national economy -definition of various groups of fixed assets and their association, is of the paramount importance for the organization of accounting, as different groups of fixed assets are allocated and they are united by common functions in the production process. After determining the purpose and classification of the fixed assets, it is possible to optimize their structure -to ensure their effective use, to promote the improvement of the state of production.
The classification of fixed assets is necessary for the correct representation of the revalued value of each item of the fixed assets, accounting and analysis. In the economic literature, different approaches to the classification of fixed assets are used (Table 3).  [6, p. 435], use the most common classification of fixed assets by the following features: by grouping by industry, by function, by affiliation, by use. But some authors suggest to classify even by the additional features.

Approaches to the classification of fixed assets in the economic literature (fragment)*
By functional purposes, Tkachenko N.M. considers fixed assets as industrial and productive, productive of other industries, non-productive (non-industrial) [17, p. 260-269].
By state of deterioration, Yu. O. Omelchenko proposed to classify fixed assets on new, usable, obsolete and replaceable ones. He believes that this "... will allow shareholders and other users to constantly have information about the state of fixed assets when making a decision to re-evaluate the property and update them in time" [18, p. 9].
The existing classification was also complemented by a team of authors (Mikhailov M.G., Telegun M.I., Kadetska A. M., Baranik O.O.). They highlighted the similarity between them, dividing fixed assets into similar and non-similar ones. According to the authors, such sign is necessary for information provision of assetswap operations [7, p. 190-194].
In determining the essence of fixed assets, scientists allocate different areas of their use. For example, Kovalenko O.V. [10, p. 21] believes that "... the sphere of use of fixed assets is only production processes". But fixed assets are involved both in the production process and in delivery of goods, provision of services, leasing to other persons, implementation of administrative or sociocultural functions. Therefore, such definition of fixed assets is narrow because it does not take into account other areas of their use.
The national accounting standards were developed taking into account the international standards, that is why R (S) A 7 "Fixed assets" [2] has a number of common points in IAS 16 "Fixed Assets" [3].
Definition of the concept of "fixed assets" according to national and international standards can be considered similar (Table 1), but when comparing approaches to the classification of this category there are significant differences. In R(S)A 7 "Fixed assets", classification of fixed assets for the purposes of their accounting is given, and IAS 16 "Fixed assets" distinguishes other classes of fixed assets (Figure 1). In the tax system, 16 groups of fixed assets and other non-current assets are allocated. They coincide with those presented in R(S)A 7 "Fixed assets". The difference lies in the fact that, according to each group, the mini-mum permissible useful lives are set. That is, a separate group of fixed assets can not be used less than it is established in Art. 145 of the Tax Code (Fig. 2) [1].

Fig. 2 -Classification groups of fixed assets under the Tax Code of Ukraine* * compilied by the authors on the basis of sources
In order to display information about fixed assets in the statistical and financial statements, the classification of fixed assets for the purpose of accounting and by types of economic activity is used (Fig. 3).
Thus, the financial statements (Form 5) use the classification of fixed assets for the purpose of accounting, and in statistical statement (Form 11-OZ) -by the types of economic activity. Conclusions and prospects of the further investigations. Thus in the article the analysis of issues of the economic concept of the category of "fixed assets" and their classification by scientific approach and normative and legal acts has been carried out. The analysis of normative -legal acts allowed us to conclude that under "fixed assets" long-term tangible assets are understood that should be used for more than one year, only Tax Code of Ukraine defines the value criterion by which a non-current asset is included in fixed assets.
The analysis of the essence of the category of fixed assets by the scientific approach has shown that today there is no single approach to the definition of the category of "fixed assets": most authors use the concept, which is given in R(S)A 7 "Fixed assets" -"long-term tangible assets that an enterprise uses for their use in the process of producing goods, rendering services, leasing to other persons, expected useful life (exploitation) of which is more than one year. Other scientists modify it depending on the purpose of research and management of the enterprise activity.
The analysis of the classification of fixed assets allowed to make the following conclusions: -according to the national standards, fixed assets are classified into groups for the purposes of their accounting, and according to the international standards, other classes are allocated; -the classification of fixed assets for the purposes of accounting and tax accounting for the relevant groups is investigated; -classification of fixed assets by forms of statistical and financial statements indicates that classification of fixed assets is used in the financial statement for the purpose of accounting and in the statistical reporting -by types of economic activity.
-the analysis of approaches to the classification of fixed assets in the economic literature suggests that domestic researchers mainly examine the classification of fixed assets by the following criteria: by affiliation, by functional purpose, by industry, by use. Use of the additional classification features leads to improved management of fixed assets, qualitative management analysis (including determination of reserves to increase efficiency of the enterprise as a whole) and accounting.

Forms of statements
Form №5 «Notes to annual financial statement» Form 11-OZ «Statement on availability and movement of fixed assets » By groups of fixed assets: -capital expenditures on improvement of land; -buildings, structures and transmitting devices; -machinery and equipment; -vehicles; -іnstruments, devices, inventory; -animals; -perennial plantings; -other fixed assets; -library funds; -minor non-negotiable tangible assets; -temporary (not title) buildings; -natural resources; -inventory packaging; -rental items; -other non-negotiable tangible assets.

By types of economic activity:
-assets distributed by FEA (food production and others); -assets not distributed by FEA (land parcels, investment property and the like).