Klasyfikacja i wycena środków trwałych na Łotwie
Classification and valuation of fixed tangible assets in Latvia

Summary/Abstract: The aim of the research is to analyze the criteria of classification and valuation of fixed tangible assets currently used in Latvia. As in many other countries also in Latvia the valuation and revaluation of fixed tangible assets has turned out to be a serious problem, and is becoming more and more complicated. The main obstacle is the lack of a unified approach. Latvian normative documentation contains essential contradictions regarding the classification of assets, without any indication into what group of assets and into what balance sheet position the individual items of fixed assets must be entered. Most commercial companies in Latvia do not carry out the revaluation, and in their accounting the assets without any residual value may be found.

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