Alexander SUKHAREV1, Yulia SCHMIDT1, Irina ZHUPLEY2, Evgeniia ZADVORNEVA3 and Oksana IVANOVA4
1 Tver State University, Russia
2 Primorskaya State Agricultural Academy, Russia
3 All-Russian Scientific Research Institute of Agricultural Economics, Russia
4 Kostroma State Agricultural Academy, Kostroma, Russia
The article presents an analysis of the methodological aspects of using the fair value principle to assess assets and liabilities, in comparison with the historical cost approach. The idea of the need for a transition in a digital society to a multi-value valuation of assets and liabilities in accounting and financial reporting is expressed, which will provide more information about the financial and economic condition of the organization.