Importance Subsequent measurement of non-financial assets is a complicated issue for both Russian and foreign companies due to numerous problems in reforming the national accounting system to converge with IFRS, and the imperfection of IFRS. The article considers the modern conceptual framework for subsequent measurement of non-financial assets. Objectives The aim of the study is to clarify the conceptual framework for subsequent measurement of non-financial assets. Methods The study employs methods of collection and processing of economic information, analysis, comparison and monitoring of scientific concepts presented in the works of Russian and foreign scientists. Results On the basis of the theoretical analysis, generalization and systematization of materials on the problem, the study refined the conceptual framework and offered unique definitions of the categories of asset measurement. The study proves that a reduction in the market value of an asset is not a necessary and sufficient criterion for the asset’s decrease in value for the organization, though the converse proposition is also true. Conclusions and Relevance The proposed definitions will enable to improve the theoretical basis for subsequent evaluation of assets to improve the quality of accounting information.
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