The Role of Capital Assets in the Sustainable Development of Industrial Production

This contribution addresses the assessment of capital assets, the efficient usage of which is one of the factors contributing to the sustainable development of industrial enterprises. Based on an analysis of various approaches to interpreting the category of «capital assets», the author justifies the application of an accounting approach and identifies components of these assets according to the financial statements of an enterprise. Special attention is given to identifying the distinctive features of capital assets, including their long-term use, realization of production functions, and potential for generating investment income. This work highlights the factors related to the sustainable development of industrial enterprises and their relation to capital assets. The author examines stages of assessing sustainable development in the industrial production and proposes enhancing innovative sustainability by using the VACA (Value Added Capitalization) indicator, which characterizes the contribution of capital assets to the creation of added value for the enterprise. Using the VACA indicator, the efficiency of capital asset use is evaluated, focusing on the example of Russia’s processing industries. The author develops a factor model based on the methodology for calculating the VACA indicator and reveals the impact of capital asset cost and their efficiency on the creation of added value for Russian industrial enterprises.