The article is devoted to the study of the influence of subsidies in agriculture on the financial result and the cost of production, including through VAT. The important task of accounting for VAT has been solved. Standard approaches were developed to reflecting VAT when receiving subsidies, depending on the purpose and organization of financing. The article discusses the system of correspondences on the accounting of value added tax when receiving a subsidy, depending on the purpose and timing of receipt of budget funds.
In this article we have considered the problems of classification and recognition of a specific type of asset, namely cattle embryos, as well as analyzed the characteristic features of this type of asset. We also substantiated its recognition as a biological asset in accordance with IFRS 41 "Agriculture". The possibility of applying the approach to embryos' valuation by means on fair value has been proved based on the convergence of selection calculations' methods and the income discounting method. The calculations have shown that the evaluation of the embryos depends on conditions and patterns of their usage. The results of the study will allow more reasonably forming professional judgment in the primary recognition of the biological asset and its valuation at the reporting dates in the financial statements.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.