Abstract
Fixed assets (FAS) occupy the central place in the asset structure of any company, as they provide the main activity of the organization. The quality of financial statements depends on the accuracy of the assessment and recognition of the FA in tax and accounting, as well as affecting the financial result and management decision-making. The purpose of the study is to analyze and disclose the theoretical and practical aspects of the recognition and reflection of FA in accounting, in order to develop proposals for improving accounting methodology and harmonization of reporting in the Republic of Kazakhstan. To achieve the objectives of the study, the methods of legal and comparative analysis, logical construction, systematization and generalization were applied. The study revealed differences in approaches to the recognition of FA in accounting. Based on the results of the study, the following key results were identified: differences in the recognition of financial assets in accounting, depreciation methods, the need to unify approaches to write-off and disposal of assets, and the impact on financial results. Additionally, the article reveals the essence of the concept of FA for accounting purposes. Recommendations are given on improving the effectiveness of FA accounting development. However, there are many unresolved issues, especially regarding the depreciation of assets and their impact on the financial performance of the organisation. Finding relevant practical solutions is necessary, as is the introduction of new innovative tools. Therefore, the continuation of scientific research in this direction will allow us to deepen our understanding of the features of FA accounting.