REPRODUCTION OF FIXED ASSETS
Palavras-chave:reproduction, fixed assets, depreciation policy, state support
The relevance of research is conditioned by objective need for management of reproduction processes. Fixed assets turnover takes place through depreciation charges in which respect the depreciation policy is one of the methods of managing its reproduction. Theoretically depreciation is a source of simple reproduction, whereas in practice it can be a source of extended reproduction due to time shifting of depreciation reserve generation and replacement of fixed assets. In fact however it does not resolve even the objectives of simple reproduction due to inappropriate use. The research is directed at revealing new tools of depreciation policy, and grounding the distribution of functions of state and economic entities in management of fixed-assets reproduction. The paper specifies the role of depreciation policy as a tool for reproduction management, identifies the peculiar features of economic and accounting approach to understanding of depreciation essence and their discrepancy in settling reproduction objectives. It was established that despite the theoretical existence of the uniform, progressive and digressive methods of depreciation, presently there is not a single depreciation method in Russia referring to the progressive ones. It was suggested to introduce into practice the inflation indexation of depreciation, which refers to progressive methods – the depreciation norm grows in time interval of charging thereof. Project proposals were simulated and correlated with the actual data on the example of agricultural organizations of Kostroma oblast in Russia. It was established that depreciation indexation by 8% per year will indirectly raise the amount of state subsidies by 1.7% without direct payments through reduction of taxable base and amounts of taxes withdrawn. The method of indexed depreciation is attractive for economic entities. In this respect the state can use an additional tool of economic regulation: to oblige the enterprises selecting this method to use the depreciation reserve as per designation. Introducing the proposed depreciation method into practice allows resolving a number of objectives simultaneously: secure protection of depreciation reserve from inflation, fulfill the functions of simple and extended reproduction through depreciation. Indexed depreciation being one of the forms of state support can be introduced selectively, for instance for agricultural manufacturers only. The presented method is a tool of state support that does not refer to the measures influencing directly the production enhancement and trade restriction, and does not have hindrances for usage as per the rules of the World Trade Organization.
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