Natalia Trusova, Doctor of Economic Sciences, Professor, Professor of the Department of Finance, Accounting and Taxation, Dmytro Motornyi Tavria State Agrotechnological University, Zaporizhzhia, Ukraine

ORCID ID: 0000-0001-9773-4534
e-mail: trusova_natalya5@ukr.net

Alina Sakun, PhD in Economics, Associate Professor, Associate Professor of the Department of Entrepreneurship, Accounting and Finance, Kherson State agrarian and economics, Kherson, Ukraine

ORCID ID: 0000-0002-0910-4055
e-mail: agorg@ukr.net

Implementation of the depreciation policy in the formative component of the investment security of enterprises

Abstract. Introduction. The article examines the peculiarities of the implementation of the depreciation policy in the formative component of the investment security of enterprises. The synergistic implication of depreciation policy and investment security of the enterprise is presented.

Results. The methodical basis of the formative component of investment security of enterprises has been formed, which ensures the accumulative function of depreciation deductions and allows for the optimal distribution of cash flows, based on the accumulated value of derivative assets, in capital investments (minus the liquidation value of assets), during the entire period of their operation, taking into account investments in innovative technologies. It is proved that the accumulated val-ue of depreciation deductions in the value derivative of assets affects only the level of profitabil-ity of the enterprise and is an operational lever of investment security of enterprises while reduc-ing the tax pressure. This direction is realized by applying the method of accelerated depreciation (accelerated write-off of assets). The method of estimating the accumulated amount of deprecia-tion deductions in the value of the derivative of the company’s assets has been improved and the indicator “depreciation capacity” has been proposed.

Conclusions. The functional model of the degressive method of depreciation calculation is used, which ensures the calculation of the amortization process by the amount of profit, which depends on the volume of manufactured and sold products. The model makes it possible to determine the expendable in-vestment flow in operational activities, potentially close to the determined ones, according to the depreciation policy declared at the enterprise. At the same time, the accumulative function of the investment fund forms the aggregate value of the subject’s investment security in cyclical periods of asset reproduction and fluctuations in the value of the generated marginal profit.

Keywords: tourist business; regional social and economic destination; tourist product; tourist flows; tourist potential.

References:

1. Bondar, M.I., & Babich, V.V. (2016). Depreciation of non-current assets: accounting and taxation. Bulletin of Zhytomyr State Technological University. Series: Economic Sciences, 1 (55), 33-34 [in Ukraine].
2. Chumachenko, M. (2004). Depreciation deductions – a significant source of financing investments of the enterprise. Accounting and Auditing, 8, 6-8 [in Ukraine].
3. Consequences of the change in the cost criterion of fixed assets (2021).Retrieved from https://uteka.ua/publication/commerce-12-podatkovij-kodeks-komentari-ta432 rozyasnennya-38-naslidki-zmini-vartisnogo-kriteriyu-osnovnex-zasobiv-iz010915r [in Ukraine].
4. Eisner, R. (1952). Depreciation Allowances, Replacement Requirements and Growth. American Economic Review, 32, 31 [in English].
5. Fraumeni, B. (1997). The Measurement of Depreciation in the U.S. National Income and Product Accounts. Survey of Current Business, 7, 7-23. [in English].
6. Hulten, Ch.R. & Wykoff, F.C. (1981). The Estimation of Economic Depreciation Using Vintage Asset Prices: An Application of the Box-Cox Power Transformation. Journal of Econometrics, April, 81, 367-396. Retrieved from http://www.sciencedirect.com/science/article/pii/03044076(81)90101-9 [in English].
7. Jorgenson, D.W. (1974). The Economic Theory of Replacement and Depreciation. Econometrics and Economic Theory. London: Palgrave Macmillan. Retrieved from https://link.springer.com/chapter/10.1007/978-1-349-01936-6_10 [in English].
8. Kihel, V.R. (1999). Mathematical methods accepted solutions in an effective education.Kiev: IEUGP. [in Ukraine].
9. Khomyn, P. Ia & Pyrih, I.M. (2007). Depreciation: economic content and methods of reflection. Finance of Ukraine, 6, 22-30. [in Ukraine].
10. Levchenko, N.M.& Vorobiova, I.O. (2014). Depreciation policy as a component of enterprise strategy. Innovative economy, 4, 102-107. [in Ukraine].
11. Lyshchenko, O.H. & Pivnenko, V.V. (2015). Optimization of depreciation policy of the enterprise. Sustainable development of the economy, 4, 70-75. [in Ukraine].
12. Pedchenko, N.S. & Luhivska, L.A. (2014). Depreciation policy of the enterprise in the context of reforming the tax system. Science Bulletin of Poltava University of Economics and Trade, 6 (68), 74-84. [in Ukraine].
13. Shvets, N.V. (2016). Depreciation policy of the enterprise: problematic issues. Bulletin of the Volodymyr Dahl East Ukrainian National University, 6, 199-202. [in Ukraine].
14. Surriley, E. (1971). An Optimum Switching from Double-Declining Balance to Sum of theYear Digins Accounting Review, 46 (1971), 574-582. [in English].
15. Syisoev, A.V. (2006). Depreciation policy as a factor of investment development of the economy. Problems of forecasting, 1, 61-70. [in Ukraine].
16. Trachova, D. (2016). Role of state protectionism in depreciation policy formation. Baltic Journal of Economic Studies, 3(5), 351-356. [in English].
17. Vittih, V.A. (2003). Multiagent interaction models for building networks of needs and opportunities in open systems. Automation and telemechanics, 1, 177-185. [in English].