Fixed asset accounting guide : for hydrogen CapEx investments
Junnila, Juha (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024060420846
https://urn.fi/URN:NBN:fi:amk-2024060420846
Tiivistelmä
The purpose of the thesis is to prepare a Fixed Asset Accounting Guide for hydrogen CapEx investments. This thesis aims to utilize the author’s real-life financial controller experience. A further objective is to collect the essentials of the Finnish Accounting Standards, fixed asset accounting and tax laws, new regulations and decrees, and to create the fixed asset guidebook for accounting professional use.
The basis of the theoretical part of the thesis was the credible and trustworthy accounting and taxation regulation information sources for a Finnish limited liability company, such as Finland’s official law book and the tax administration’s official websites. The thesis’s theoretical part is also based on selected accounting theory books, which present investment analysis, investment finance, and project CapEx accounting, including investment planning methods, decision-making stages, and calculation models.
The prepared Fixed Asset Accounting Guide concentrates on researching and clarifying hydrogen investment CapEx projects implemented by Finnish limited liability companies, accounting, present taxation and reporting points of view, collecting essential legislation, and narrating the taxation effects of the fixed assets, as well as giving clarifying examples with active links to sources.
The Fixed Asset Guide also presents new and relevant regulations of the International Accounting Standards/International Financial Reporting Standards and the United States’ Generally Accepted Accounting Principles’ regulations of fixed assets. These can be utilized in the international parent company-Finnish subsidiary reporting situations. The guide narrates the essential facts of the Environmental, Social, and Coporate Governance Data reporting that will become mandatory practice in 2024 for listed companies and certain companies' value chains.
The result of this thesis is a clarifying and supportive investment accounting guidebook in English for accounting personnel in the scope of a Finnish limited liability company. The guidance instructs readers in applying the different laws and the instructions of the tax administration in accounting practice. The timing of this guidebook is relevant since hydrogen investment projects are starting in Finland in 2024.
The basis of the theoretical part of the thesis was the credible and trustworthy accounting and taxation regulation information sources for a Finnish limited liability company, such as Finland’s official law book and the tax administration’s official websites. The thesis’s theoretical part is also based on selected accounting theory books, which present investment analysis, investment finance, and project CapEx accounting, including investment planning methods, decision-making stages, and calculation models.
The prepared Fixed Asset Accounting Guide concentrates on researching and clarifying hydrogen investment CapEx projects implemented by Finnish limited liability companies, accounting, present taxation and reporting points of view, collecting essential legislation, and narrating the taxation effects of the fixed assets, as well as giving clarifying examples with active links to sources.
The Fixed Asset Guide also presents new and relevant regulations of the International Accounting Standards/International Financial Reporting Standards and the United States’ Generally Accepted Accounting Principles’ regulations of fixed assets. These can be utilized in the international parent company-Finnish subsidiary reporting situations. The guide narrates the essential facts of the Environmental, Social, and Coporate Governance Data reporting that will become mandatory practice in 2024 for listed companies and certain companies' value chains.
The result of this thesis is a clarifying and supportive investment accounting guidebook in English for accounting personnel in the scope of a Finnish limited liability company. The guidance instructs readers in applying the different laws and the instructions of the tax administration in accounting practice. The timing of this guidebook is relevant since hydrogen investment projects are starting in Finland in 2024.