Today, more and more requirements are imposed on the accounting (financial) statements of an organization, namely, on indicators that determine the reliability of the information contained in it. These requirements are related to the necessity of strengthening company’s position in the market, learning to use new technologies and production processes, as well as attracting investments for the development and prosperity of the organization. Accounting (financial) reporting is undoubtedly a way to manage the financial position of the organization and the results of its activities The paper reviews the economic and legal provisions determining the need to use assessment method during the formation of truthful financial results of the organization. An analysis of the statements truthfulness using the assessment method with reference to the balance sheet theory of accounting is carried out. The contradiction existing in the application of the assessment method is deduced, and an overview of the authors supporting the need for historical evaluation is given. The analysis of the latest changes in the Russian legislation affecting the issue of the assessment method is carried out; accounting entries for disclosing revaluation at the original and revalued cost are proposed. The use of the assessment method in accordance with the proposed guidelines allows to significantly increase the credibility to the approved indicators of the organization’s accounting (financial) statements, and also to identify substantial errors affecting the truthfulness of information.