Grigorii R. ALBOROVUdmurt State Agricultural University (UdSAU), Izhevsk, Udmurt Republic, Russian Federation g.r.alborov@mail.ru ORCID id: not available
Subject. This article considers the issues of defining the nature and classifying biological assets according to various criteria for their valuation and accounting in digital bookkeeping, as well as the issues of valuing and accounting for agricultural (biological) products harvested from biological assets, and determining the overall financial result from the biotransformation of biological assets. Objectives. The article aims to analyze the current procedure for accounting and evaluating biological assets and develop recommendations for digitizing accounting, fair value assessment of biological assets, and determining financial results from their biotransformation. Methods. For the study, we used analysis and synthesis, modeling, systematization, and generalization. Results. The article clarifies the essence of biological assets and their classification in a digital accounting information system. It offers recommendations on improving the structure of accounts, including accounts for recording biological assets and agricultural (biological) products in the context of digitalizing the agricultural economy, as well as methods for evaluating biological assets and agricultural (biological) products. Conclusions and Relevance. The conducted research and analysis of modern organizational and methodological aspects of accounting reveal the need for digitalizing the accounting of biological assets in agricultural organizations and implementing a methodology for their fair value assessment. The research results can be applied in both the theory and practice of accounting, financial accounting, and reporting.
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