Before we start talking about the valuation of fixed assets, let us express an idea, the essence of which seems somewhat seditious. It lies in the fact that for an accountant the term “fixed assets” implies, first of all, a cost reflection of the availability of property capital that the organization has. The material content of this phrase in accounting is very secondary.

In fact, in accounting work there is no fundamental difference how many of any products are planned to be produced today on a specific machine installed in the workshop. Its material indicators serve in accounting work only as identifiers that allow one to “personify” an object. All accounting procedures in relation to any object are carried out in its monetary and value terms.

This is what makes the valuation of fixed assets particularly important for all aspects of the work of an accountant in accounting for fixed assets.

Types of fixed asset valuations

In the management activities of any organization it is used normatively installed system property value estimates used for various purposes cost measurements– accounting, analysis, forecasting, generation of accounting, statistical and tax reporting data.

Any private situations, such as sales, transfers against barter transactions, an organization receiving a loan under collateral schemes, determining the size insurance compensation or judicial settlement of property disputes are conducted on the basis of data determined in this property assessment system.

There are three basic types valuations applied to the fixed assets of an enterprise:

• Initial;
• Restorative;
• Residual.

Here we should immediately mention the term “book value”, used in accounting to denote valuation. In practice, it is often assumed that the initial and book values ​​are completely identical. However, this is not entirely true.

The borderline point that introduces differences between them is the case of revaluation of fixed assets. The cost of objects that have been revalued is the replacement value, and these objects are subsequently taken into account in the balance sheet.
Acquired after revaluation property objects are taken into account in their initial assessment. The amount at which both fixed assets are accounted for is the balance sheet amount. However, in terms of economic content, the book value of some is replacement value, while others are original.

This is evidence that in practice property accounting is carried out in a mixed form of assessments. Further, to denote the cost at which fixed assets are accounted for, we will use the concept of “book value”, if necessary indicating the category of its filling, initial or replacement.

Initial

Determines the value at which the property unit was registered as a fixed asset. The formation of the initial assessment of property is directly dependent on the method of its receipt.

When purchasing or creating or constructing, the initial amount is formed based on the total actual costs of acquisition or creation. In case of receipt in the form of a contribution to the authorized capital, the initial cost is established according to the assessment agreed upon by the founders. The basis for the formation of the initial amount upon receipt under exchange agreements (barter) is the amount transferred in exchange material assets. If the objects are received free of charge, the current market price of similar ones is recognized as the initial price.

In addition, in all cases, when forming the initial amount, the costs of delivery, storage and installation, as well as other expenses directly related to the implementation of the facility, are taken into account.
Thereafter, the original carrying amount generally remains unchanged. A change in the initial amount may occur in the process of its clarification during revaluation or undertaking measures that significantly change the condition of the object. In this case, such a change can be an increase, in cases overhaul or modernization, or reduction during partial liquidation.

Restorative

In practice, situations arise when the current book value no longer corresponds to the actual economic situation On the market. In this case, the organization can exercise its right to revaluate the property. During the revaluation, the balance sheet valuation of the fixed asset is adjusted taking into account data on market value costs of creating or purchasing an object identical to the revalued one.

As a result of revaluation, the replacement cost of fixed assets is established. It is the replacement amount from this moment that is accepted as their book value. To establish the amount of an object in a restoration assessment, various sources of information can be used, including:

• Information from manufacturing companies of identical objects;
• Information on price levels obtained in government organizations or special public sources;
• Expert assessment by independent specialists
• It should be noted that in the future, previously revalued fixed assets must be revalued so that there are no significant differences in the current replacement cost of the revalued objects.

Residual

For complete control economic processes has an important role economic information about the state of property capital. One of its main indicators is the residual valuation of property, defined as the difference between the book value (initial or replacement) value of fixed assets and the amount depreciation charges.

Thus, the residual valuation of an object reflects that portion of the cost of the fixed asset that has not yet been transferred to the manufactured product at the moment.

Based on the residual value, the degree of deterioration of the property is determined and the need for its renovation is identified. Funds with zero residual value should be removed from the property due to their economic inefficiency.

In cases of reconstruction, modernization, major repairs, or completion of fixed assets, their residual value increases in an amount calculated based on the amount of costs for these activities.

Some points related to the valuation of fixed assets in tax accounting

In both accounting and tax accounting, there is one system of categories - initial, replacement and residual values. However, it should be noted that the final results of the formation initial cost for accounting and tax registers may have differences.

This is often due to the moment of accounting for amount (exchange) differences that arise in the process of acquiring objects, the payment for which is determined in relation to foreign currency. The total (exchange rate) difference in such cases is determined as the difference between the ruble equivalent of the payment debt in foreign currency terms on the date of its occurrence and on the date of its repayment. The differences are calculated according to official rate established by the Central Bank of the Russian Federation.

In the Regulations defining the procedure for accounting for fixed assets, the difference between exchange rates that arose during the period of payments for the acquired property is included in the costs incurred by the enterprise upon receipt of fixed assets. At the same time, the tax code, namely Article 256, clearly interprets exchange rate differences as falling into the category non-operating income or expenses.

The result is an increase or decrease in the "accounting" original book value of the fixed assets relative to the original valuation calculated for tax purposes.

Article 264 of the Tax Code also provides food for discrepancies. A number of types of costs, in accordance with this article, attributable for tax purposes in accordance with this article to other expenses associated with production and sales, on the basis of PBU, can also be included in the initial cost of property.

It is equally important to consider the limitations imposed tax code, on the procedure for determining the restoration amount of the object. Chapter 25 establishes that inclusion in income or expenses taken into account for taxation includes only those results of revaluations that were taken into account before 01/01/2002.

The results of revaluations made later, or the results of revaluations made before the specified date, but accepted for accounting after it, are not accepted for determining the replacement cost and calculating depreciation for tax purposes.

During the period of operation of fixed production assets, changes may occur related to the acceleration of the scientific and technical process, which reduces the cost of the process of manufacturing means of labor, and in conditions of inflation, the initial cost of produced means of labor may increase. Therefore, it is necessary to eliminate the distorting influence price factor. For this purpose, fixed production assets are assessed at replacement cost.

Replacement cost shows what funds would have to be spent at prices and rates existing at the moment in order to acquire or build fixed production assets similar to those available.

To determine the replacement cost of fixed production assets, they are revalued using two main methods:

1) by indexing their book value,

2) by direct recalculation of the book value in relation to prices prevailing on January 1 of the next year.

3. Residual value– this is the initial cost of fixed assets (book value) minus depreciation, the amount of which is determined by the amount of depreciation charges for the entire service life of these fixed assets.

It allows you to judge the degree of wear and tear of labor equipment, plan the renewal and repair of fixed assets. There are two types of residual value:

1) it is determined according to the initial cost, determined according to the measure depreciation charges,

2) at replacement cost, determined by expert means in the process of revaluation of means of labor.

The residual value can be calculated using the formula:

From the rest = C n + C k * [(A n * C n *T)/100]

where C n is the initial cost of fixed assets,

C to – cost of major repairs over the entire service life of fixed assets,

A n – annual rate depreciation,

T – period during which fixed assets were operated, years.

4. Salvage value– the cost of selling worn-out and written-off fixed assets and is regulated only by the condition of fixed assets and the further possibility of their use; can vary (for equipment) from full replacement cost to selling the equipment at the price of scrap metal.

During the production process, fixed production assets are subject to moral and physical wear and tear.

Physical deterioration – loss of fixed assets of their use value. Physical wear and tear occurs both during the operation of fixed assets and during their inactivity.

Obsolescence of fixed assets– reduction of their cost under the influence of scientific and technological progress.

Obsolescence of fixed assets occurs before the onset of complete physical wear and tear.

Depreciation of fixed assets is carried out using one of the following methods of calculating depreciation charges:

1. linear;

With a linear method, depreciation is calculated evenly based on the original or replacement cost of the fixed assets and the depreciation rate calculated from the period beneficial use this object.

For example, an enterprise purchased equipment worth 120 thousand rubles, the useful life of which is 5 years, then the depreciation rate will be 100%: 5 = 20% per year. Annual amount of depreciation charges = 120 thousand rubles. * 20% = 24 thousand rubles.

2. reducing balance;

With the reducing balance method annual amount depreciation charges are determined based on the residual value of fixed assets at the beginning of the year and the rate of depreciation charges and sometimes using the acceleration factor established by law

The essence of the method used is that the share of depreciation charges attributed to the cost of production will decrease with each subsequent year of operation of the specified facility.

Residual amounts are written off to cost. Directly writing off this amount to cost or financial results may worsen it financial condition and level of profitability. To a certain extent, these losses can be compensated by the sale of under-depreciated equipment.

Foreign practice the use of non-linear methods of calculating depreciation (in particular, the USA) involves establishing the multiplicity of determining the declining balance. Using the double reduction method, annual depreciation charges (A) will be determined by the formula:

A = C o * N * 2,

С about – residual value of equipment for beginning of the years,

N – depreciation rate for the entire period of operation of the equipment,

2 – multiplicity of calculation.

3. write-off of cost based on the sum of the numbers of years of useful life;

When applying the method of writing off the cost by the sum of the numbers of years of the useful life, the annual amount of depreciation charges is determined based on the original cost of the fixed assets object and the ratio of the number of years, where the numerator is the number of years remaining until the end of the service life of the object, and the denominator is the sum of the numbers of years of the term services. Liquidation value is not used with this method, since the fixed asset item transfers its value completely over the period of useful use.

From the point of view of financial planning, this method is preferable because it allows you to write off most of the cost of fixed assets at the beginning of operation. Further, the rate of write-off slows down, which ensures a reduction in production costs.

Fixed assets in the system accounting organizations are valued at initial (book) and residual value.

Initial cost of long-term tangible assets deviates from their real value under the influence of inflation and other pricing factors. To eliminate this discrepancy, business entities revaluate fixed assets: they establish the replacement cost of the asset.

Determination of replacement cost

The value of the replacement cost of fixed assets is determined by adjusting their original (or previously revalued) price and the amount of depreciation charges for the period of operation. A distinction is made between total and residual (minus depreciation) replacement cost.

The method for calculating the replacement cost of an asset depends on the method used for revaluation. There are 2 ways to set the current price of an object:

1. Direct revaluation is a recalculation of the original cost based on documentary evidence: information on prices for products from other manufacturers, statistical publications, expert conclusions of subjects of valuation activities.
2. Indexation is a calculation using revaluation indices (coefficients). These indicators are developed annually by statistical authorities taking into account inflation by groups and periods of acquisition (creation) of fixed assets.

Display in accounting

Positive difference between restorative and book value an asset is displayed in the company’s accounting as an additional valuation of the asset, a negative one - as a markdown. Overvaluation leads to growth additional capital an enterprise formed by the amounts of additional valuations non-current assets, and the markdown refers to other costs.

The display of a markdown or revaluation depends on the fact of a revaluation in previous annual reporting periods and its results:

• the revaluation exceeds the previous markdown: the part of the revaluation covering the depreciation is included in income, and the remaining amount increases the amount of additional capital (by increasing the account credit);
• the markdown exceeds the previous revaluation: the part of the markdown covering the revaluation reduces the amount of additional capital (by increasing the debit of the account), and the remaining amount becomes other expenses.

The balance of the amounts of additional valuations exceeding the depreciation of objects that are disposed of from the company’s additional capital is transferred to the account of retained earnings.

Organization of revaluation

Enterprises independently determine the need for revaluation of their property. Such a decision is formalized by a directive (order) of the manager and is indicated in accounting policy. Revaluation is carried out at the end (last day) of the reporting period and no more than once a year.

In the process of revaluing an object, recalculation is performed for the entire group of fixed assets to which it belongs ( vehicles, buildings, machinery and equipment, etc.). A group that has previously been revalued is subject to systematic revaluation so that the book value does not deviate significantly from the actual price. If the difference between the original and current value is insignificant (less than 10%), revaluation is usually not performed.

Accounting for fixed assets at replacement cost helps effective management company, as it ensures the accuracy and reliability of the data financial statements, allows you to assess the real value of the company’s property and its functioning.

In theoretical terms, the full replacement cost of buildings refers to the cost estimate, the cost of constructing a copy of the appraised building as of the valuation date. During the assessment process, a situation may arise in which a structure includes obsolete building materials, technology or design that cannot be assessed at this time. In addition, some elements of the building may not comply with the current Building Codes and Regulations (SNiPs). In this case, it is customary to calculate the estimated cost of constructing a building of similar utility. In the latter case, the appraiser receives a cost estimate based on replacement cost. These estimates may vary significantly in the final value of the full replacement cost of buildings, as well as the composition and degree of depreciation taken into account in them.

The assessment of the full replacement cost of a building as of the valuation date can be carried out at the cost of reproduction or at the cost of replacement. The choice of the type of replacement cost for a specific appraisal assignment must be clearly explained in the report to avoid misinterpretation of the result obtained.

The cost of reproduction represents the cost estimate for the construction of an exact copy of the appraised building, taking into account all its shortcomings and redundant elements at current prices on the date of appraisal using the same building materials, standards, design, project, quality of work, etc.

In theory, the cost of reproduction is more convenient because it is easier to calculate. However, in practice, reproduction costs are sometimes difficult to determine because buildings may be constructed from materials that are currently out of production and priced at the relevant date.

At the same time, the cost of reproduction is more convenient for determining all types of wear and tear.

Assessing a building based on its reproduction cost requires special knowledge in the field of design and estimate work to ensure the reliability of the sources used.

Replacement cost is the estimated cost of constructing a building of equivalent utility to the property being assessed, using modern building materials, technology, current standards, design and design.

The use of replacement cost facilitates the assessment procedure, since it is based on modern information about the construction process, which is obviously more accessible and reliable. However, replacement cost eliminates the need to assess some types of functional deterioration, but other types of functional, physical and external deterioration still need to be determined. The choice of the type of value of buildings is sometimes determined by the purpose of real estate valuation.

Classification of construction costs

The total replacement cost of buildings includes direct and indirect construction costs, as well as business income.

Direct construction costs. Capital costs directly associated with the construction of physical structures (such as contract costs) are called direct costs.

Indirect costs. Capital costs that are indirectly related to the construction of facilities (for example, loan costs) and are not included in direct construction costs are called indirect costs. These include other types of costs, for example, salaries of specialists, the cost of loans, taxes during construction; operating expenses, such as rental fees, sales fees, marketing expenses.

Entrepreneurial remuneration allows you to take into account the reward for the risk experienced by the entrepreneur in connection with the implementation construction project. When calculating its value, appraisers analyze the developer's income and business profit, which corresponds to the difference between the total construction costs and the market value of the facility after it reaches its design capacity.

Direct construction costs

Direct construction costs include the full estimated cost of construction installation work, which, in turn, includes direct and overhead costs, as well as the profit of the contracting construction organization.

Direct costs include wages main construction workers, building structures and materials, as well as the costs of operating construction machinery and mechanisms.

Overhead costs are calculated according to standards as a percentage of direct costs and include such items as transportation costs, expenses for maintaining the administrative apparatus, etc.

The profit of the construction and installation contractor, set as a percentage of the total cost of construction and installation work, is specified in the contract agreements and paid by the customer (investor).

When calculating the direct and overhead costs of a construction contractor, the estimator should take into account the following considerations:

if the dimensions of the building are larger than typical, then more durable structures were most likely used;

the amount of costs directly depends on the quality of materials and work, so it is necessary to identify them on the building being assessed;

The level of competition between contractors in the local market affects cost estimates, since a contractor working at full capacity will inflate the price, and contractors experiencing a shortage of orders will usually offer lower prices for the same specification;

the level of overhead costs depends on the contractor's production capacity, since large organization can save on some costs, such as warehouse costs, maintenance of quality supervision, etc.

Indirect costs

Indirect costs include expenses necessary for construction, but not included in the construction contract. Indirect costs may include:

Design and survey work;

Valuation, consulting, accounting and legal services;

Loan financing costs;

All risks insurance;

Tax payments during construction;

Development costs;

Marketing expenses, sales commissions, transfer of ownership;

Administrative expenses of the developer, etc.

When calculating indirect costs The appraiser should take into account the following considerations:

If the assessment takes place in an unbalanced market, indirect costs may include additional commissions, marketing, administrative and other expenses that should be taken into account when assessing external aging;

Some types of indirect costs depend on the total volume and cost of construction, so it is advisable to evaluate them as a percentage of direct costs;

Other types of indirect costs depend on the type of property, must be estimated using the direct method and require a more detailed study of their structure.

Entrepreneurial income is part of the market value of a building, which represents the amount of entrepreneurial profit arising during the implementation of construction work, compensating for the risks arising and realized upon a change of owner. Business income (actually realized) is defined as the difference between the sale price or market value of the object and total costs. It should be borne in mind that in some situations the result may not correspond to market expectations. In addition, such a formulation of business income requires dividing the difference arising from the sale of real estate between land plot and buildings.

When analyzing entrepreneurial income, valuation theory distinguishes between the concepts of entrepreneurial incentive and entrepreneurial reward. The expediency of such a distinction is determined by the volume and distribution of functions for conducting construction work that are not assumed by the contracting construction organization. The composition of direct participants in the investment process directly related to the implementation of the project is the investor, the customer and the contractor.

An investor is a participant investment project who invests his own or other funds in it and receives ownership rights to it, which can be realized in the form of subsequent use, rental or sale.

The customer is an intermediary between the investor and other participants in the investment process (contractors, designers, suppliers of equipment, building materials, etc.). The customer performs coordinating and supervising functions.

A contractor is a construction or intermediary organization responsible for completing the scope of construction and installation work in full accordance with the project for the agreed amount.

In reality, the investor can take on the functions of the customer.

The entrepreneurial incentive encourages an investor to invest in real estate with the expectation of earning a market rate of return.

Entrepreneurial remuneration is compensation to the customer-coordinator for qualified overall project management. Entrepreneurial remuneration should be distinguished from the profit of the construction contractor and its overhead costs, since they are included in the full estimated cost construction and installation works.

The assessment report must clearly define business income, business profit and business incentive.

When calculating business income, the appraiser may encounter a number of problems. Firstly, the excess of the sales price over the total amount of construction costs is associated with the influence of many factors, so during the analysis it is very important to determine the share of the contribution of the investor and developer.

Secondly, since entrepreneurial income is realized only when real estate is sold, some experts correlate it with intangible assets. Analysis of transactions for objects sold several years after completion of construction requires an analysis of changes in value due to temporary changes in the market.

Third, construction technologies for comparable projects affect the ability to obtain data for comparison. Typically, appraisers can calculate business profit from actual costs for similar properties, such as condominiums and high-rise buildings. residential complexes. When calculating the value of such objects, business profit represents the developer's reward for the skilled work performed and the risks associated with the project, although this income may differ from what was expected. In large residential areas, however, this issue is

This is complex because the developer's profit may not reflect the proportional shares of the site and buildings in the value of the entire property. Residential land developers, for example, often profit from the value of the homes built on the planned sites rather than from the value of the sites themselves.

Fourth, business profits in some cases may be included in construction costs, so if the appraiser does not analyze the information, this factor will be taken into account twice.

Calculation of business income

Business income is an integral part of the market value of the buildings that make up the property. Typically, to calculate business income, based on an analysis of market transactions with similar objects, a certain standard percentage of business income is determined, which, depending on the initial base used by the appraiser, can be set to different values. So the basis for calculation can be:

Direct costs;

The amount of direct and indirect costs;

total amount direct, indirect costs and site costs;

Cost of the completed project.

The replacement cost of fixed assets is usually called the cost that is used when assessing any object related to fixed assets after the completion of the revaluation procedure.

That part of fixed assets that has a value within the established accounting policy organization of borders, which should not exceed 20,000 rubles per unit, can be reflected in accounting reports as a component of inventories of a material and production nature. In order to ensure the proper level of security of these documents, you will need to take care of organizing appropriate control over all their movements.

For tax purposes, all objects priced up to 10,000 rubles must be immediately written off as material costs.

The price of OS objects cannot be changed. True, it is worth taking into account a number of factors that allow this possibility: reconstruction of facilities, their modernization, incomplete liquidation, or carrying out work to retrofit fixed assets.

The revaluation procedure is carried out using direct conversion method or through documentary evidence of market value. The main objective of such procedures is to determine the present value of all property belonging to fixed assets by bringing the primary value to market prices and to the existing conditions during revaluation.

The revaluation procedure can be carried out either by primary, and by residual or restorative price.

According to the primary cost, fixed assets will be accepted for accounting. The initial price represents the amount of actual expenses of the enterprise that were spent on the purchase, construction or creation of fixed assets, in addition to VAT and other types of tax levies subject to reimbursement.

The primary price of fixed assets that was made as a contribution to authorized capital company is their monetary value, which is agreed upon by a collegial decision of the founders of the commercial structure.

The primary cost of fixed assets that were acquired by the company under a gratuitous donation agreement is their market value, current at the time of acceptance on the balance sheet.

The replacement cost of fixed assets corresponds to the amount of financial costs that the company is obliged to pay on the date of re-evaluation in the event that there is a need to replace an object.

You can determine the replacement price of an OS using:

1. Information on similar materials provided by the manufacturer itself.
2. Cost data obtained from statistical organizations or from sales representatives.
3. Information about the cost that is published in special literary and information publications.
4. Assessments carried out by BTI employees.
5. Expert opinions on the current value of the fixed assets.

Evaluation, revaluation and change

As part of accounting, it is regularly carried out fixed asset valuation procedure. Today it is customary to distinguish the following types of OS revaluation:

• at primary cost;
• at replacement price;
• at the residual price.

According to the existing procedure, all fixed assets must be reflected in accounting records according to their primary or replacement price.

Before revaluing fixed assets that are part of a certain homogeneous category of material objects, it is necessary to remember that a similar procedure will have to be performed on an ongoing basis in the future. This is done to ensure that the cost of these objects, reflected in accounting reports, does not have serious differences from the replacement price.

Before revaluing an operating system, some preparatory work is required. There is a process of issuing an order or other administrative document regarding the revaluation. In addition, you will need to prepare full list OS that will be subject to this procedure. In such a list it is necessary to indicate the following information:

• name of a specific object;
• date of its purchase or manufacture, construction;
• the date of acceptance of such objects for accounting in the organization’s accounting department.

In addition, it is necessary to verify the existence of such objects. As source data to organize revaluation can be:

• the original or current price if this object was already subject to revaluation as of December 31 of the previous reporting year;
• the volume of accrued depreciation charges as of the same date for the entire period of operation of the facility;
• documentary evidence of the current value as of January 1 of the reporting year.

The revaluation procedure involves recalculating the primary as well as the current value. If a specific object has already undergone the revaluation procedure, then checking the amount of accrued depreciation.

Existing calculation methods

There are several methods for calculating the replacement cost of an asset.

Comparative Unit Methodology is the process of calculating the cost of constructing one comparative building unit. The price of one comparative unit of an analogue is adjusted from the point of view of existing differences with the compared objects.

To calculate full price of the object in question, it is required multiply the adjusted cost of the comparison unit by the number of comparative units. Determination of the amount of costs is often carried out using reference and regulatory documentation, namely, the aggregated parameters of the construction price and the aggregated parameters of the replacement price.

Using the following formula you can calculate the cost immovable object:

Tso = Tsm2 * Po * Kop * Kon * Kom * Kov * Kopz * Konds, where

Tso– the price of the object undergoing the evaluation procedure, Tsm2– the cost of building one square meter squares, By – total area property that is being assessed, KOp– correction factor for the probability of detecting a discrepancy between the actual area of ​​the object and the data available from the BTI and the actual area of ​​the building (KOp = 1.1-1.2), CON– coefficient that takes into account the identified discrepancies between the object being assessed and the selected standard construction(for identical objects KOn = 1), KOHM– coefficient that takes into account the location of the real estate, KOv– time coefficient, which takes into account the difference between the cost of construction and installation work at the start of construction and the date of assessment procedures, KOpz– a coefficient that takes into account the profit margin of an organization acting as a developer, KONDs– coefficient that takes into account the amount of VAT.

One of the most important aspects when using such a technique, one can consider selection of a standard analogue. To do this correctly, you need to take into account the following factors, as the same functional purpose, similarity of existing physical parameters, approximate age, other parameters.

Method of dissection into individual components differs mainly from the comparative unit method in that the price of the building is calculated as the sum of the prices of each individual building element. Cost cost for each separate element calculated on the basis of both direct and indirect costs.

Z = (∑ Obj * Cj) * Kn, where

Tsz– the price of construction of an immovable object, Aboutj– volume of the j-th element, Tsej is the price of one unit of volume, Kon is a coefficient that takes into account the differences between a specific object and the selected standard building (for similar buildings Kon = 1).

Quantitative Research Methodology is the basis for using the previously described methods for calculating the size of the replacement cost of real estate. It allows you to obtain the most accurate data. At the same time, it is worth noting the fact that this method is the most expensive. In this regard, the person who will be involved in the assessment must have a sufficient level of knowledge and have appropriate theoretical training, supported by practical experience.