Abstract:

The article talks about the author’s methodology of calculating the useful life of some types of fixed assets, which factors in the future structure of the company’s consumption of the assets’ economic benefits. The methodology removes the conflict of interest between the users and compilers of IFRS reports. The basis of the research is practical aspects of information disclosure in the accounting policy and its reflection in an IFRS report of companies from various industries. It will also help establish a useful life for specific classifications typical of the energy, telecommunications, air and rail transportation of cargo and passengers. We assume that the methodology can be expanded and applied for a wider number of fixed assets when defining their useful life.