Application of fair value for non-financial assets valuation by higher education institutions: Status and prospects

Subject. This article examines the state-of-the-art and prospects for the use of fair value for the valuation of non-financial assets in higher education institutions. Objectives. The article aims to consider the areas of concern associated with the use of fair value for the valuation of non-financial assets in higher education institutions, in particular, for fixed assets, analyze the methods for determining fair value, and compare the main provisions for establishing fair value in accordance with the International Financial Reporting Standards and the Federal Accounting Standards for Fixed Assets for the Public Sector. Methods. For the study, I used comparison, systematization and generalization. Results. The article systematizes the main theoretical approaches to the study of issues related to the valuation of non-financial assets in accordance with the International Public Sector Financial Reporting Standards and Federal Accounting Standards. Relevance. The above basic provisions for the use of fair value for the measurement of non-financial assets by higher education institutions can be used for theoretical study of the issue, as well as in practical activities in State (municipal) budgetary and autonomous institutions.