PROBLEMS OF CLASSIFICATION AND VALUATION OF FINANCIAL ASSETS

Abstract. The article discusses the main problems of the classification and valuation of financial assets, namely, in terms of inconsistencies in the approaches proposed by the International Financial Reporting Standards (IFRS) and the OECD Transfer Pricing Guidelines. The study found that in many countries that have begun to apply International Financial Reporting Standards, there are no uniform rules for the classification, assessment and determination of the fair value of financial assets. The need to address these issues is of particular importance in the context of the development of the OECD initiative to implement the BEPS. This determined the direction of the study and allowed formulating the aim of the study, which is to develop sound proposals for further development and improvement of IFRS provisions related to the classification and valuation of the fair value of financial assets. The methodological background of the research involved an institutional approach to the study of socio-economic processes and phenomena, as well as a system of principles and methods for creating and assessing value, which is based on philosophical, worldview, general scientific and special scientific methods. The study allowed systematising and classifying financial assets according to different features and characteristics. The proposed classification of financial assets makes it possible to determine the directions for improving accounting in terms of its arrangement based on the approximation of IFRS to the OECD Transfer Pricing Guidelines. The promising areas for further research include the development of a unified procedure for determining the real value of financial assets for taxation and accounting purposes. Keywords: financial assets, economic essence, classification, assessment, financial market, fair value. JEL Classification G12, D53 Formulas: 0; fig.: 1; tabl.: 1; bibl.: 25.