Revaluation of fixed assets according to Federal standard accounting "Fixed assets"

The article discusses the procedure for revaluation of fixed assets and the reflection of its results in accounting in accordance with the Federal Accounting Standard 6/2020 «Fixed Assets». According to the standard, an economic entity can fix in the accounting policy the method of accounting for fixed assets: at historical cost or at revalued cost. If the latter is chosen, the organization has the right to apply one of the revaluation methods for a group of fixed assets: basic or acceptable. The sequence of calculations and the reflection on the accounting accounts of adjustments to the initial cost and depreciation charges are disclosed by examples of practical situations.