Summary of Economic Doctoral thesis: Research on applying valuation models in fixed assets accounting in non-financial enterprises in Vietnam

Researching and proposing solutions to apply valuation model in fixed assets accounting in non-financial enterprises in Vietnam to provide useful information to users of information.

MINISTRY OF EDUCATION AND TRAINING

THUONGMAI UNIVERSITY

-

NGUYEN HONG NGA

RESEARCH ON APPLYING VALUATION MODELS IN FIXED ASSETS ACCOUNTING IN NON-FINANCIAL

ENTERPRISES IN VIETNAM

Major : Accounting Code : 934.03.01

SUMMARY OF ECONOMIC DOCTORAL THESIS

Ha Noi - 2021

The work was completed at: Thuongmai University

Science instructor:

1 Assoc Prof Dr Le Thi Thanh Hai

2 Assoc Prof Dr Ha Thi Thuy Van

INTRODUCTON

1 Rationale of the topic research

The thesis ensures the systematization and novelty of research under both theoretical and practical perspective by the grounds as follows:

Firstly, from theoretical perspective: the thesis is based on a new approach and

classifies the research problem Specifically, the thesis will study other valuation models

other than traditional cost model, clarify and determine the difference between valuation model and measurement basis Currently, the research and application of valuation models is towards two approaches: providing useful information to users in a prudent approach; provide complete and relevant information to the user Accordingly, the measurement and initial recognition of fixed asset accounting is based on historical cost, after the initial recognition, it is possible to choose historical cost or fair value The historical cost is currently the measurement basis, so in order to apply valuation models,

it is necessary to continue to study the use of fair value after the initial recognition

Secondly, from practical perspective: to study the application of the meaningful

valuation model to the enactment of legal regulations in Vietnam in the convergence relationship with international accounting standards In order to increase the degree of harmony between the regulations of Vietnamese technical expertise and international, it

is necessary to apply fair value for measurement after initial recognition.However, up to now, fair value studies in Vietnam are quite modest, especially there has not been any in-depth study on the application of fair value to measurement after initial recognition of fixed assets Therefore, this thesis is designed to evaluate the applicability of fair value

to the measurement after initial recognition in fixed asset accounting to provide orientations in the application of valuation model

Research on the application of valuation model in accounting of fixed assets in non-financial enterprises has implications for the application in enterprises at the practical level Because in the accounting and auditing strategy of Vietnam until 2030, the Government has set the requirements for businesses to continue to access and apply international financial reporting standards Based on that application roadmap, enterprises need to choose the application of valuation model in fixed assets accounting

to both suit the characteristics of their production and business activities and economic development conditions Vietnam's political, social, cultural, ensures the timeliness and appropriateness of information to interested subjects

From the above reasons, it can be seen that the research on the application of valuation models is an urgent issue in the current period Therefore, I have chosen the

topic "Research on applying valuation models in fixed asset accounting in non-financial

enterprises in Vietnam" as the research topic of the thesis.

2 Research purpose and mission

* Research purposes: Researching and proposing solutions to apply valuation

model in fixed assets accounting in non-financial enterprises in Vietnam to provide useful information to users of information

* Research mission : Systematizing and clarifying the theoretical basis of valuation models and accounting of fixed assets according to valuation models

Analyzing and evaluating the current situation of applying valuation models in Vietnam's fixed assets accounting regulations, surveying and evaluating the situation of applying valuation models in fixed asset accounting in non-financial enterprises main; at the same time assessing the impact of the factors on the application of fair value in fixed assets accounting - the foundation to determine the influence of the factors on the

applicability of valuation models in fixed assets accounting in non-financial enterprises

in Vietnam Proposing solutions and recommendations to apply valuation models in fixed assets accounting in non-financial enterprises in Vietnam in the period to 2025 and vision to 2030

3 Research subjects and scope

* Subjects of research: The research object of the thesis is the application of valuation models in fixed asset accounting and the factors affecting the application of fair value in fixed assets accounting, thereby determining the factors affecting the application of valuation models in fixed asset accounting in non-financial enterprises

* Research scope

- Regarding the research content:The study of applying valuation models in fixed assets accounting belongs to the research scope in terms of financial accounting, not in terms of management accounting; for the presentation of information on the separate financial statements, not for the presentation of information on the consolidated financial statements, Research on tangible fixed assets and intangible fixed assets, not for finance lease fixed assets, long term assets held for sale Therefore, the dissertation will study the factors affecting the application of fair value in fixed assets accounting, because this

is considered as a factor, as an important link to apply valuation models in fixed assets accounting

- About the research object: collecting data at large-scale manufacturing enterprises (over 200 billion VND), including listed and unlisted enterprises

- Regarding the research period: the thesis collects survey data in processing and manufacturing enterprises in Vietnam during the period from 2016 to 2020 and suggested solutions for the period up to 2025, vision to 2030

4 Scientific and practical significance

+ Regarding theoretical: researching and adding theoretical issues about valuation models in the accounting and fixed assets accounting according to each valuation model, researching experiences of countries in the world and drawing lessons for Vietnam about valuation models suitable for fixed asset accounting At the same time, the thesis also builds a research model, adjusts, develops and supplements a scale of factors to measure the impact on the application of fair value in fixed asset accounting in enterprises

+ Regarding practical: The thesis uses appropriate research methods including data collection methods and data analysis and processing methods to evaluate the current situation of applying valuation models in fixed assets accounting, assessing the impact level of factors to apply the fair value in accounting of fixed assets in non-financial enterprises The thesis has pointed out the achieved results, limitations and identified subjective and objective reasons for applying valuation models in fixed assets accounting Since then, the thesis gives practical recommendations and ensures convergence with international accounting standards

5 Structure of the thesis: The thesis content is structured into 5 chapters, including

Chapter 1: Overview of research situation

Chapter 2: Theoretical basis of applying valuation models in fixed assets accounting in enterprises

Chapter 3: Research methods

Chapter 4: Application of valuation models in fixed assets accounting in financial enterprises in Vietnam

non-Chapter 5: Orientation, opinion and recommendation in order to apply valuation models in fixed asset accounting in non-financial enterprises in Vietnam

CHAPTER 1: OVERVIEW OF RESEARCH SITUATION

1.1 Research on measurement basis and valuation models in accounting

1.1.1 Research on measurement bases in accounting

Barlev & Haddad (2003) in the study “Fair value accounting and the management of the firm” said that in order to be measurable in accounting, it is necessary to define the measuring basis The accounting's development has shown that there are basic measuring bases including: historical cost, general cost, current cost, output price and fair value Accordingly, the measuring bases used today are only historical cost and fair value Currently, fair value with useful characteristics when providing information is becoming the basis of measurement that countries around the world are aiming to apply to accounting objects when presenting information on the financial statements (Nur Barizah Abu Bakar & Julia Mohd Said, 2007) It can be seen that the above studies are theoretical studies on measurement bases that have not been deployed in experimental studies to be able to confirm the

necessity of applying fair value in accounting

1.1.2 Research on valuation models in accounting

The book "Some topics on accounting theory" by Mai Ngoc Anh et al (2014)

has explained in detail the valuation model and its components This is considered a work with very clear research direction on valuation models, but there is a lack of empirical research evidence to apply valuation model in practice In another study on

"The reassessment model after initial recognition for the elements of the financial

statements" Mai Ngoc Anh (2011b) said that the revaluation model has not been

applied in the Vietnamese accounting system and can only be applied when Vietnam has a complete asset market system, operating under a complete and transparent market mechanism However, these are theoretical studies of the authors, this

application requires specific experimental research

1.2 Research on the viewpoint of applying valuation model in fixed asset accounting

Oyadongha James & Ogoun Stanley (2013) in the study on “Revaluation Accounting and Decision Usefulness of Accounting Ratios” also said that in order to overcome the limitations of the cost model, it is necessary to apply the reevaluation model and conduct reassessment of fixed assets according to the real estate price because it will ensure appropriate information and accurately describe the real value

of assets in the enterprise In the qualitative research of Talnagiova Viktoria & Cerna Lubica (2011) on “Measurement of assets in financial statements of an industrial company” , the author shows that after initial recognition, enterprises can choose

between the cost model and revaluation model The impact of deferred corporate income tax on revaluation of fixed assets under fair value is recognized under IAS 12 – Income tax Erlend Kvaal (2005), when doing empirical research on “Topics in accounting for impairment of fixed assets” in some countries in Europe, analyzed a number of explanatory variables related to depreciation of fixed assets including: scale, accounting returns, accounting conservative and management change It is possible to summarize articles, research works that clearly research direction is to apply the cost model and revaluation model for fixed assets accounting in enterprises

In addition, there is a lack of specific analytical studies, whether or not to apply

valuation models in Vietnam, what basis to apply valuation models, if applicable, the conditions are required Therefore, the author of the thesis realizes that this is a research gap for the author to continue studying the applicability of valuation models

in fixed assets accounting in Vietnam

1.3 Research on applicability of valuation models in fixed asset accounting

* Research on the situation of fair value application in the current Vietnamese accounting system

In Le Hoang Phuc's study (2012) on "Current situation and orientation to use

fair value in the Vietnamese accounting system", the author used qualitative research

and showed the fair value and using fair value in accounting are scattered in accounting standards, patchy, lack of systematic nature; There is no official and unified guidance on measuring methods, and determining fair values in accounting

The author of the thesis realizes that this research direction should be inherited when studying the current situation of applying valuation models to the accounting of fixed

assets in the Vietnamese accounting system

* Studies on factors affecting the support for fair value application in accounting

- About the support to apply fair value in accounting in enterprises

Nguyen Ngoc Lan (2017) when researching "Applying fair value in accounting

in Vietnamese enterprises", the author approaches based on the perception of

enterprise managers to support the application The author of the thesis thinks that it

is necessary to inherit the research direction of Nguyen Ngoc Lan, to evaluate the possibility of applying the problem of practice in terms of awareness and voluntary application from the enterprise managers, helping the implementation of the application of solving problem solving effectively, avoiding the implementation of a

above research to make a consensus or reject the above point of view

- Research on perceptions of disadvantages when applying fair value in accounting

in enterprises

In quantitative research, Laux, C., & Leuz, C (2009) showed that the unfavorable perception when applying fair value is a positive effect with the application of fair value (beta number is 1,589) On the contrary, research by Nguyen Ngoc Lan (2017) concludes that perceptions of fair values have opposite effects with the dependent variable, the beta coefficient is (-1.032) The author of the thesis realizes that it is necessary to continue to study further and clarify more clearly in the research to clarify the above conflicting views

- Study of perceptions of coercive pressure and code compliance for fair value

The author Nguyen Ngoc Lan (2017) also concludes that enterprise managers' perception of coercive pressure, imitation mechanism and compliance pressure on the dependent variable are positive effects The author of the thesis realizes that it is

necessary to inherit it in order to continue researching and make a consensus or reject the above point of view

- The study of perceptions is complex and costly to apply fair value

Le Vu Ngoc Thanh (2017) has drawn the conclusion that the cost of measurement of the roadmap is perceived to be high but has no impact on the application of fair values On the contrary, the results of quantitative research by Nguyen Ngoc Lan (2017) showed opposite results Thus, the author of the thesis is therefore aware that it is necessary to clarify more clearly in his research to conclude agree or reject the above views

- Study the challenge of the environment when applying fair value

Tran Van Tung et al (2016) in the study "Evaluation of factors affecting the

application of fair value in accounting in Vietnamese enterprises" Through research,

the authors have shown that the factors have negative impacts on the application of fair values in accounting in enterprises The author of the thesis realizes that it is necessary to inherit the above studies for specific research and make a consensus or reject the above point of view

1.4 Identify research gaps and questions

From the problems raised above, the author of the dissertation still exists some gaps that need to be studied as follows:

- Research to clarify the difference between the measurement basis and

valuation model, clarifying the application of valuation model in the fixed assets

accounting on the basis of prudent approach and on the basis of providing appropriate

information

- Researching the current situation of applying the price calculation model in Vietnam's fixed assets accounting regulations, thereby making a comparison of valuation models application in accounting of fixed assets between Vietnamese and international accounting regulations

- Conducting empirical research on applying valuation models in fixed asset accounting in non-financial enterprises in Vietnam, studying the factors affecting the application of fair value in accounting of fixed assets, evaluating and giving

recommendations for applying valuation model in the accounting of fixed assets

* Research question

Question 1: What is the difference between a base measurement and valuation model How does fixed assets accounting follow valuation models in regulations How countries in the world have applied valuation model in fixed asset accounting, what lessons can be learned for Vietnam?

Question 2: In reality, how to apply the valuation models in Vietnam's accounting regulations and in non-financial enterprises in Vietnam What factors affect the application of fair value in fixed asset accounting?

Question 3: The application of valuation models in accounting of fixed assets

in non-financial enterprises in Vietnam should be done on the basis of a prudent approach or on the basis of providing appropriate information What solutions need

to be taken to apply valuation models in fixed asset accounting to provide useful information to stakeholders?

CHAPTER 2: THEORETICAL BASIS OF APPLYING VALUATION

MODELS IN FIXED ASSETS ACCOUNTING IN ENTERPRISES

2.1 Overview of fixed assets in the business

2.1.1 The concept of fixed assets in the business

Fixed assets are assets controlled by the enterprise, have a physical form or no physical form, have great value, can be reliably determined and used for a long time

not for sale and certainly bring future economic benefits to businesses

2.1.2 Classification of fixed assets

According to the manifestation form, fixed assets in enterprises are divided into two types of tangible fixed assets and intangible fixed assets By use purpose, fixed assets include fixed assets used for business purposes; Fixed assets are used for welfare, security and defense purposes; Fixed assets awaiting resolution such as fixed assets in dispute awaiting resolution, fixed assets received for protection or custody

of other subjects According to the use situation, fixed assets include fixed assets in use; Unused fixed assets; Unused fixed assets awaiting liquidation According to ownership, fixed assets include both owned and leased fixed assets

2.1.3 Characteristics of fixed assets in enterprises

Firstly, the monitoring of physical and value management will help avoid the phenomenon of loss or not being used, causing wastefulness leading to a decrease in profit in the period of the enterprise; Secondly, choosing the appropriate depreciation method of fixed assets will reasonably evaluate the level of depreciation to recover the invested value of the enterprise; Thirdly, information about changes in the fair value of fixed assets should be reflected in order to provide appropriate information

to users

2.1.4 Request for management, request to provide information of fixed assets

* Requires management of fixed assets in the business

Firstly, to conduct a reasonable classification to manage and provide accurate information on the existing situation of fixed assets in enterprises; Secondly, must firmly grasp the use of fixed assets to analyze and assess the capacity of fixed assets

in the production and business process; Thirdly, a scientific and reasonable method of depreciation of fixed assets must be built in the process of using fixed assets; Fourthly, it is necessary to monitor and determine the value of fixed assets in the following stages: formation stage, usage stage, disposal and disposal stage

* Requesting to provide information of fixed assets to users

For investors, information reflected on fixed assets on financial statements is important information to help them assess the level of risks and benefits as a basis for investment decisions; For banks and credit institutions, enterprises must prove their financial capacity to repay loans when they are due; For state management agencies, accounting information on fixed assets helps these agencies to check whether the enterprise is correct, sufficiently and accurately calculated or not

2.2 Overview of valuation models in accounting

2.2.1 Valuation model and its elements in accounting

Valuation model is characterized by factors including:

Assumptions of the valuation model: Each valuation model is based on basic

assumptions that are suitable with certain economic, political and social conditions

Measurement basis in valuation model: the basis for calculating prices is the

determination of what factors are included in the value of the accounting object

Application of a price basis to measure the value of a price object upon initial recognition, after initial recognition: Application of a price basis to measure

the value of a price object when making the initial recognition and after initial recognition, it is necessary to have appropriate process-based pricing techniques to

calculate and determine the value of the objects in different cases

Recognizing the effect of price calculation on financial statements: This is

the aspect showing the close relationship between the price calculation method and the fundamental issues of accounting, especially related to the recognition of revenue and expenses and business results

2.2.2 Research on valuation models in accounting

2.2.2.1 Cost model

The historical cost goal is to provide financial information to help owners / creditors assess the responsibility of using economic resources The theoretical basis for the use of the cost model is the theory of value movement Accordingly, the value

of materials, assets and labor shifts into the value of newly created goods Accounting under the cost model aims to preserve financial capital, that is, the amount earned after the initial monetary capital has been preserved The base price model is based on two basic assumptions that are continuous activity and a stable currency In the cost model, the accountant uses the cost-based basis for initial recognition and after the initial recognition The cost model is a traditional valuation model throughout the history of accounting with the advantage of ensuring the objectivity and reliability of information However, accounting under the cost model based on the assumption of continuous operation is not realistic because there is no enterprise that is an indeterminate activity in the future, businesses will sometimes have to stop working

2.2.2.2 General cost model

The general cost accounting is formed from the point of view of preserving financial capital, in which the accounting data should be adjusted to ensure the purchasing power of currency at different reporting time is stable The general cost model uses the cost basis for the initial measurement and recognition After initial recognition, the accountant uses price indexes such as consumer price (CPI) or commodity and service price indexes as the basis for the adjustment The general cost accounting developed during the period of increasing inflation in the 1960s-1970s, however up to now, these regulations have all expired

2.2.2.3 Current cost model

The current cost model is based on an unspecified future unit of continuity assumption In addition, accounting under current cost model also helps businesses reflect an opportunity cost saved by investing in assets in the past Under current cost model, assets are initially recognized at cost After initial recognition, the assets of the entity are evaluated at current cost Fluctuations in current cost are recorded in

operating profit as a factor presented separately on the financial statements In the period 1979-1986, the current cost model clearly revealed the limitations such as the recognition of profits due to an increase in the value of assets held for use, which was criticized as unreasonable, lack of objectivity due to transactions Sale has not happened yet; on the other hand, for used assets that exist in many sectors, then it is difficult to find a working market to determine their prices

2.2.2.4 Output price model

Accounting according to the output price model is based on the assumption that enterprises operate continuously and on the premise of effective market Under this model, output prices are determined to measure assets and liabilities initially recognized at market prices The researchers argue that the output price model has the advantage of reflecting the objectivity of having a working market for assets At the same time, the recognition of volatility of long-term assets ensures realism, not based

on assumptions However, the output price model has but the limitation is too focused on maximizing the realizable value of the asset, so it is not suitable for forecasting the ability to generate profits in the future, only suitable if the enterprise intends to liquidate assets

2.2.2.5 Fair value model

With the goal of meeting the appropriate information needs for making, fair value is arguably the most appropriate and the best pricing basis in forecasting future cash flows According to the fair value model, the accountant uses the fair value for initial recognition, and after the initial recognition, accounting reflects the change of fair value on the financial statements However, the integrated learning model also has some certain limitations In the absence of directly observable data on market prices, the measurement of fair value will be unreliable and subjective when it is based on the judgments and assumptions of the reporting entities In addition, the fair value model is popular only for inventories, investment properties, and financial instruments Meanwhile, to reflect the consumption of fixed assets such as factories, equipment workshops and intangible assets, a revaluation model should be applied

decision-2.2.2.6 Revaluation model

According to the revaluation model, the accountant uses the historical cost for initial recognition, and after the initial recognition, the accountant uses the fair value

to reassess the items on the financial statements In essence, the reevaluation model is

a variation of the fair value model to provide better and more complete information to users The fair value model only reflects the change in fair value at the time of revaluation on the financial statements Revaluation model shows current value of amortization and, above all, information changes in asset value, shows consumption

of assets during holding and use Therefore, the reassessment model provides more information than the fair value model and reflects the changing value of an asset

2.3 Accounting of fixed assets in the enterprise according to valuation models

2.3.1 Measurement and initial recognition of fixed assets

According to the International Accounting Standards Board (IASB), fixed assets are initially recorded at cost The cost of a fixed asset includes all costs necessary to make the asset ready for use (IAS 16, IAS 38) These costs include costs incurred when buying or constructing at the finalized price of the construction contract and other directly related costs

2.3.2 Measurement and recognition of fixed assets after initial recognition

* Measure and recognize fixed assets after initial recognition using the cost model

- Determination and recognition of depreciation of fixed assets: In essence,

depreciation is not an accounting object to be measured, it is only calculated during the period to systematically allocate the value of fixed assets in during the useful life

of the property

- Identification and recognition of costs incurred after initial recognition of

fixed assets: Repairs and regular maintenance will be recognized into operating

expenses in the period or to prepayment and amortized if the price great value For the costs of upgrading fixed assets, if there is certainly an increase in economic benefits in the future from the use of the property, the historical cost of the asset is recorded

- Determination and recognition of accumulated loss due to impairment of

fixed assets: Based on a prudent principle, when a fixed asset is impaired, such loss

should be recognized to present as an adjustment of value to a fixed asset Fixed assets on financial statement

Impairement of assets

Value in use

fixed asset in use In addition, temporary differences (taxable temporary differences

or deductible temporary differences) will appear with the revaluation of assets, reflecting the fluctuation of historical cost and depreciation of fixed assets due to reevaluate against the original carrying amount

2.3.3 Stop recording for fixed assets

The cessation of recognition of fixed assets is determined when the assets no longer bring economic benefits in the future, the enterprise liquidates and sells the fixed assets and converts the used fixed asset into investment property With the cessation of recognition of fixed assets, it does not distinguish whether it is the original price model or the revaluation model Because the recording of fixed assets

is actually written off the fixed asset, the enterprise will record a decrease in historical cost and depreciation of the fixed asset in the period

2.3.4 Presenting fixed asset accounting information on financial statements

* Present accounting information of fixed assets under cost model

Fixed assets must be stated at cost less accumulated depreciation minus loss due to impairment of asset value (if any) On the Notes to the financial statements, the enterprise must present contents related to each type of fixed asset including the basis for determining gross residual value; the depreciation method used; the useful life or the rate of depreciation used; gross residual value and accumulated amortization (plus accumulated losses due to impairment of assets) at the beginning and end of the period, new additions, assets acquired through business combination, loss due to impairment of recognition under IAS 36, impairment losses are reversed, exchange rate differences arising from conversion of financial statements from a functional currency to another reporting currency, other changes

* Present accounting information of fixed assets under revaluation model

In the balance sheet, fixed assets must be recorded at fair value minus accumulated depreciation and losses due to impairment of asset value (if any) On the Notes to the Financial Statements, in addition to the descriptive information about fixed assets similar to the original price model, the enterprise must also present information on how to measure: the time of re-evaluation, method of determining fair value, scope fair value is determined by reference to market prices or other pricing techniques In addition, the enterprise must also present information such as the effective date of the reevaluation, whether there is an independent party participating

in the evaluation or not, the residual reassessment

2 4 Factors affecting the application of valuation models in fixed asset accounting

2.4.1 Basic theoretical

2.4.1.1 Signalling theory

Signal theory aims to explain that managers will choose to apply fair values in fixed assets accounting, thereby providing investors with more relevant and reliable information to ensure their effectiveness capital mobilization of enterprises

2.4.1.2 Stakeholder theory

Applying stakeholder theory aimed at explaining the manager's behavior to choose or not to select a problem Stakeholders have an impact on an organization's

operations and the application of fair values in fixed assets accounting can therefore satisfy related parties' information needs

2.4.1.3 Institutional theory

Based on the basic regime, the reasonable application of value in accounting fixed assets is the lawful result desired by related parties when information fixed assets are presented to financial statements must be consolidated and reliable Based

on the initiation of the mechanism, to reasonably apply the value in the accounting fixed assets because the organization wants to arrest successful enforcement Based

on the fundamental scope, the fair application of value in accounting of fixed assets

is standard in the current international integration trend based on rules developed by

specialized accounting organization

2.4.1.4 Theory of Planned Behaviour

Based on planned behavioral theory, when managers apply fair values in fixed assets accounting, there is an awareness of the benefits and disadvantages of applying fair values (corresponding to receiving behavioral awareness), there is a need for perceptions of compliance pressures, coercive pressures and imitation mechanisms (corresponding to subjective standards), and there must be perceptions of the impact

of the regulatory environment , business, cultural, social, and training issues aimed at making a decision to apply fair value in accounting of fixed assets (corresponding to behavior control perception)

2.4.2 Outline of factors affecting the application of fair values in fixed assets accounting : Research on fair value application in fixed asset accounting has been

mentioned in typical works such as Laux & Leuz (2009), Muller et al (2011), Cairn et

al (2011) Accordingly, when studying the factors affecting the application of fair value in fixed assets accounting, the author of the thesis realized that these are perceptual factors based on enterprises' perspectives The author of the thesis

hypotheses are:

H1: Perception of benefits, improving the quality of information presented on financial statements, has a positive impact on the application of fair value in fixed assets accounting

H2: Perception of disadvantages when applying the standard of handling has negative impacts on the application of fair value in fixed assets accounting

H3: Perception of coercive pressure from credit and lending institutions has a positive impact on the application of fair value in fixed assets accounting

H4: Perception of the pressure to comply with regulations of professional accounting organizations has a positive impact on the application of fair value

H5: Awareness of the imitation mechanism has a positive impact on the application of fair value in fixed assets accounting

H6: Perception of barriers when applying good quality has a negative impact

on the application of fair value in fixed assets accounting

H7: Perception of the environmental impact of the application of standardized practice has a negative impact on the application of fair value in fixed assets accounting