Accounting, analysis and control of current biological assets of “Agrolife Transservice” LLC
Students Name: Mykhaliak Yuliia Petrivna
Qualification Level: magister
Speciality: Accounting and Taxation
Institute: Institute of Economics and Management
Mode of Study: part
Academic Year: 2023-2024 н.р.
Language of Defence: ukrainian
Abstract: Production of livestock products is one of the most important types of agricultural activity of most Ukrainian enterprises [1, 2]. Considering the significant role of biological assets of animal husbandry in providing the population with valuable food 6 products and the production process of agrarian enterprises, the study of the organization of their accounting becomes particularly relevant. NP(S)BO 30 defines a biological asset as livestock or vegetation, which in the course of biological transformations is capable of forming agricultural products and/or secondary biological assets, as well as bringing economic benefits in another way [3]. In IAS 41 «Agriculture» [4], a biological asset is defined as a living animal or plant. The purpose of the master’s qualification work is to generalize, systematize and compare the theoretical and methodological provisions of accounting, analysis and control of current biological assets of animal husbandry. In accordance with the purpose of the work, the following tasks were set: - generalize and systematize approaches to determining the essence and classification of biological assets of animal husbandry, their recognition and evaluation as an object of accounting; - provide a general description of the base enterprise and analyze the main economic indicators characterizing its economic activity; - to analyze the dynamics, composition and structure of current biological assets of animal husbandry in LLC «Agrolife Transservice»; – consider the practical aspects of documentation, analytical and synthetic accounting of current biological assets of animal husbandry in LLC «Agrolife Transservice»; - to formulate proposals for improving the accounting, analysis and control of current biological assets of animal husbandry in LLC «Agrolife Transservice». The object of the master’s qualification work is the organization of accounting, analysis and control of current biological assets of animal husbandry in LLC «Agrolife Transservice». The work substantiates that biological assets are one of the most important components of agricultural production, which determines its results and without which it cannot exist at all. In this context, it is important to properly organize the management of such assets, which cannot be done without an effective, high-quality and modern accounting system. 7 It has been established that the basic approach to the assessment of biological assets is their fair (or market) value, which is expressed as the amount for which this asset can be exchanged or a debt settled from a transaction between knowledgeable, interested and independent parties. In domestic practice, the market approach is mainly used. At the same time, three types of assessments of biological assets are distinguished: upon receipt; upon initial recognition; on the balance sheet date. The identification of discrepancies in the estimate made it possible to state the need to apply alternative estimates through the formation of relevant provisions of the accounting policy. In order to improve the accounting of current biological assets of animal husbandry in LLC «Agrolife Transservice», we propose to open analytical accounts 4 of order As part of such analysis, it is advisable to keep records of costs for the formation of biological assets of the corresponding subgroup. On the basis of the conducted analysis, it was concluded that for modeling the value of products of agricultural enterprises, it is necessary to apply a model of the dependence of the value of products of agricultural enterprises on the value of crop production and the value of livestock products. It is built on the basis of a correlationregression analysis of the costs of production of biological assets and animal husbandry products, is descriptive in nature and can be easily modified into an optimization one by introducing an objective function. Key words – current biological assets, formation of biological assets, accounting, analysis, control, animal husbandry. List of used literary sources. 1. Kachmar O. V. The essence of biological assets as objects of accounting and control. Global and national economic problems. 2018. Issue 23. P. 622-626. 2. Zhuk V. M. New methodological principles of accounting for agricultural activity and problems of practical application of P(S)BO 30 «Biological assets». Accounting and finance of agriculture. 2006. No. 6. P. 34-42. 8 3. Regulation (standard) of accounting 30 «Biological assets» dated November 18, 2005 No. 790. Database «Legislation of Ukraine» / Ministry of Finance of Ukraine. URL: https://zakon.rada.gov.ua/laws/show/z1456-05 4. International accounting standard 41 «Agriculture». URL: http://www.minfin.ua