Information Support for the Accounting System of Agribusiness Entities Regarding the Impairment of Fixed Assets

Agribusiness companies today operate under conditions of a certain level of uncertainty. This is due to the consequences of the Covid 19 pandemic, sanctions pressure on business, the consequences of political events and other external factors that affect the value of the company’s assets. The information generated in the company’s financial statements must meet the qualitative characteristics outlined in the Conceptual Framework for the Presentation of Financial Reporting—relevance, truthful presentation, prudence, comparability, etc. When reflecting the economic state of agribusiness entities, it is necessary to take into account the local features of their functioning and clearly understand the risks, that this business generates. Taking into account the combination of these factors, questions regarding the mechanisms/techniques for conducting checks for impairment of a company’s fixed assets are relevant, since their share in the structure of assets of agricultural organizations reaches 50% or more. The purpose of the study is to determine the parameters of the information support of the company’s accounting system regarding the order of depreciation of fixed assets. Within the framework of the manuscript, we have summarized various opinions, points of view and existing experience in the field of carrying out procedures for impairment of fixed assets. Our findings extend previous research in this area and conclude that the impairment test is a process that requires informed decision-making in the selection of tools to conduct it and critical evaluation of the results obtained. The proposed research has theoretical and practical implications in various areas of decision making related to accounting and company management.