IMPROVING THE ACCOUNTING AND AUDITING OF BIOLOGICAL ASSETS BASED ON INTERNATIONAL STANDARDS
DOI:
https://doi.org/10.5281/zenodo.21195643Keywords:
biological assets, fair value, IAS 41, accounting, audit, internal control, working chart of accounts, biological transformation, agricultural economy, financial accounting.Abstract
This article examines the issues of improving the accounting and auditing of biological assets in
agricultural enterprises based on the requirements of International Financial Reporting Standards, particularly
IAS 41 “Agriculture.” The research employs the methods of scientific abstraction, comparative analysis,
grouping, and systematic analysis. A multifactor model for determining the fair value of biological assets is
proposed, combining market prices, biological transformation, productivity, and expected economic benefits.
The model is based on a system of working accounts, including 0180, 0181, 0182, 2600, 2610, 2620, 9071,
9072, 9171, and 9172. In addition, a system of internal control indicators for auditing biological assets is
developed. The results contribute to increasing the reliability of accounting information and financial reporting.
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