Analysis of Fixed Asset Accounting in Public Service Institutions under the New Accounting System

Xue Yang and Yan Gao ()
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Xue Yang: China Institute of Geo-Environment Monitoring
Yan Gao: China Institute of Geo-Environment Monitoring

A chapter in Proceedings of the 9th International Conference on Financial Innovation and Economic Development (ICFIED 2024), 2024, pp 4-9 from Springer

Abstract: Abstract With the implementation of the new government accounting system, there have been significant changes in the accounting of fixed assets in public service institutions. Financial professionals are required to adjust their fixed asset accounting methods to align with these new changes. This paper provides a detailed analysis of key aspects encompassed in fixed asset accounting, including asset classification, asset recognition and measurement, depreciation policies, asset impairment losses, asset disposal, and information disclosure. The aim is to explore the impact of the transformation in fixed asset accounting under the new accounting system on accounting practices in public service institutions. This research intends to assist financial professionals in accurately understanding the new government accounting standards and promote precision, standardization, and scientific management in the accounting of fixed assets in public service institutions.

Keywords: New accounting system; Public service institutions; Fixed assets; Asset accounting (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-408-2_2

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DOI: 10.2991/978-94-6463-408-2_2

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