publication . Article . 2015

Accounting of Long-Term Biological Assets

Valeriy Mossakovskyy; Vasyl Korytnyy;
Open Access
  • Published: 01 Jan 2015 Journal: Accounting and Finance, issue 1 March, pages 31-36
The article is devoted to generalization of experience in valuation of long-term biological assets of plant-growing and animal-breeding, and preparation of suggestions concerning improvement of accounting in this field. Recommendations concerning accounting of such assets are given based on the study of accounting practice at specific agricultural company during long period of time. Authors believe that fair value is applicable only if price level for agricultural products is fixed by the government as it is the case in a number of countries (USA, China, Germany and some other); increases in the value of long-term biological assets according to Accounting Provis...
free text keywords: fair value, valuation of long-term biological assets, increases and decreases in value of assets, investment activity fund sources, jel:M41
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