The climate change and food security are closely related to the effective use and conservation of agricultural land. This research is devoted to improving the methodological and methodical procedures for the IFRS’s application to the accounting of the land assets of agricultural enterprises, primarily for the needs of developing countries.Research of the accounting state of agrarian enterprises in Ukraine was carried out using statistical methods, methods of analysis and synthesis. Interviews of 3000 different accountants as to the land tenure of enterprises revealed methodological and methodical difficulties in applying IFRS to the land assets of agricultural enterprises. A special need consists in improvement of the valuation procedures for such assets. On the example of the United States and Ukraine, it has been established that, for the purpose of determining the fair value of agricultural assets, it is difficult for accountants to use generalized approaches to IFRS that do not take into account branch specifics and differences in socioeconomic environments in different countries. For developing countries with a strong agricultural potential, the most effective is the f the land potential of agricultural enterprises based on the rental income. Accordingly, the calculation methodology should be incorporated into their current accounting policy.Based on the simulation and forecasting technique it was determined, that valuation of the land assets of agricultural enterprises by the rental income method increases their cost by almost three times compared with the calculation based on the rental.The carried out studies form also the methodological framework for the further improvement of IFRS, including development of a separate industry-specific IAS (IFRS) “Agricultural Land”.
The role of reporting and statistics as a component of measuring the progress of sustainable development is constantly growing. Economic thought is increasingly based on the concept of wealth - the base of assets, as the foundation of creating well-being and aims to measure it, determine the size of investment attractiveness, and present it in analytical tables and reports as a component of modern business reputation. The approach of the World Bank involves the assessment of wealth according to three components: natural capital, manufactured assets, human assets. It was established that the national statistical methodology refers to the value of national capital: residential, non-residential buildings and structures, land and rights to natural resources, machinery and equipment, cultivated and intangible assets. At the same time, natural and human capital is not fully represented in the national wealth of Ukraine. Therefore, the goal of monetary measurement and capitalization of national wealth is seen as the direction of further development of the theoretical foundations of accounting. Accounting functionality is worth it to be defined as a macroeconomic tool for the capitalization of national wealth. The potential of a business entity, in our opinion, should be considered in the accounting field as a set of resources enterprise, which, depending on the type, is or is not an object of accounting and participates in the formation of the value of the enterprise. The methodological task for the formation of the policy of accounting capitalization is the generalization and certain ordering of the branches of the economy, in relation to which it is necessary to have separate sectoral norms of accounting and statistical reporting. Such a generalization should be based on industry factors that shape the value of products in the industry, the presence of specific accounting objects, principles of adaptation of existing accounting tools for specific business conditions. Economic services and management of enterprises can influence the level of capitalization of the enterprise due to the development of innovative accounting and financial technologies, proper presentation of the natural and economic potential of Ukraine in the global information space.
The publication focuses on prioritizing approaches to fair (market) valuation of agricultural land in financial and statistical reporting, as a factor in pricing its market turnover and capitalization in Ukraine's national wealth. Types of land valuation that are differentiated according to the purpose, methodology and purpose of the results are generalized. The procedure of soil boning, economic, regulatory and expert monetary evaluation of land plots is described. Priorities in approaches to land valuation for different purposes have been identified. It is concluded that the income approach, in particular the method of direct capitalization of rental income, is a priority in the assessment of agricultural land. Indicators for estimation of arable land by the method of capitalization of rent income, the procedure of their calculation of the source of information that we used in the process of testing these methodological approaches on a scale of Ukraine are generalized. A methodology for valuation of agricultural land for financial reporting purposes is proposed. The mechanism of introduction of the system of sectoral land valuation system, which is formed as an industry portal and functions under the regulatory and methodological support of state regulatory institutes with the aggregation of the available and most effective valuation methods and statistical databases, is substantiated. It is concluded that such a mechanism, with appropriate tools, will facilitate the capitalization of key domestic national wealth – agricultural land and provide for the possibility of price regulation of minimum and maximum prices when opening the relevant market. The priority approach to the assessment in this mechanism identified one that provides consideration of the value and market factor and the natural fertility and economic efficiency of the Ukrainian black earth.
The war causes dangerous and unpredictable conditions for using property, the impossibility of determining the period of its useful operation. The risks of losing property are considerable. In Ukraine, the property of agricultural enterprises is primarily uninsured. The only way out is the introduction of accelerated depreciation, which will adequately reflect the costs of the enterprise, associated with hostilities in the regions of Ukraine. The purpose of the article is to determine the methodical approaches and areas of regulatory and methodological support for changes in accounting policies for depreciation in the accelerated mode.The international and national methodology of depreciation calculation was analyzed. The legislative and normative changes for accounting policy of enterprises in terms of accelerated depreciation of fixed assets and clarifying the term of their useful life were substantiated. The mechanism of application of the method of accelerated reduction of the residual value of fixed assets was revealed. The necessity of the introduction of the regional policy coordinated with bodies of the State tax service concerning the application of the accelerated rates of depreciation in the territories where active military actions take place was proved. Although the national accounting standard 7 “Fixed assets” provides the possibility of doubling the depreciation rate and revising the useful life of fixed assets, it does not clarify the depreciation policy of wartime. Therefore, introducing the concept of “martial law” in national and international accounting standards is of paramount importance at the legislative level. The problem of repairing damaged property is exacerbated by the weakness of the market segment by its insurance.
Introduction. National wealth is a combination of natural, human, socio-economic, intellectual and other types of potential of the country, which is reflected in national accounts with the formation of relevant macroeconomic indicators. The study of nature and measurement of national wealth is an important subject of economic science. The understanding of the concept of wealth from the point of view of the economy changed depending on the social and economic development of society, the growth of its well-being and changes in values. A significant number of studies relate to the composition of national wealth, its evaluation and reflection in the system of national accounts. However, despite the fact that the category of wealth has been studied to a great extent by classical and contemporary scientists, the issue of accounting for this object is hardly raised. In this regard, in accounting, which is the main source of information for national accounts, these components are reflected to a limited extent (real estate, cultivated assets, intangible assets), or not reflected at all (residential buildings, land, rights to natural resources). Therefore, from the standpoint of accounting science, there is a need to form the theoretical foundations of wealth accounting. Purpose. The purpose of the study is to present a brief overview of conceptual approaches to understanding the essence of wealth, to present the definition of this category from the point of view of various authors - both domestic and foreign, to conduct a study of its economic nature, to clarify the theoretical foundations of wealth accounting. Materials and methods. The materials of the research are the works of domestic and foreign authors who conduct their scientific and practical research into the essence of wealth, issues of creation (formation), distribution, exchange and consumption of wealth. The methodological basis of the research is a systematic approach using the general scientific dialectical method: deduction and abstract-logical - to understand the essence of wealth as an economic category; analysis and synthesis - for a critical review of scientists' interpretations of the reflection of national wealth in the accounting system; logical generalization of results - for formulating conclusions. Results. The scientific article examines the economic essence of the category "wealth". The definition of this category from the point of view of various authors - both domestic and foreign - is given, and a study of its economic nature is carried out. The main characteristics that determine the peculiarities of the application of the "wealth" category are given, proceeding directly from the practical plane. The actual interpretation of the researched category, the economic essence, and the theoretical foundations of wealth accounting are formed. Discussion. In further scientific research, it is proposed to focus attention on defining the main approaches to the construction of wealth accounting methodology; outlining the problems of inconsistency in the methodology of monetary measurement of wealth in accounting and the system of national accounts. This will make it possible to fulfill the mission of the accounting institute in representing the national wealth in terms of sustainable development.
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