This article scientifically covers the issues of improving the process of revaluation of fixed assets. In particular, a comparative analysis of national and international standards for revaluation of fixed assets is carried out, their similarities and differences are revealed. Also, methods of revaluation of fixed assets are classified and the procedure for their application in practice is described. Scientifically based proposals are developed on the consistent sequence of organization and implementation of the revaluation process, and relevant conclusions are formulated.

In the modern global economy, changes in the market occur rapidly. As a result, the terms of updating products offered to the market by business entities have been reduced. The spread of new products in the markets and their constant improvement create problems for market participants associated with product innovations. The spread of technological progress throughout the world has led to the convergence of the quality and technical characteristics of products manufactured in different regions. In such circumstances, the role of costs in achieving a competitive advantage and sustainable development has increased. There is a need to use costs economically and manage them effectively. The use of modern cost management methods is a particularly urgent task for the purpose of effectively organizing costs and increasing the competitiveness of products. Today, scientists in developed countries have developed a number of modern methods of planning and managing costs, and a comprehensive study of these methods and their application to the activities of business entities is an important task. This scientific work attempts to understand the modern methods of cost management currently used.