APPLICATION OF THE COST APPROACH IN THE ASSESSMENT OF BREEDING BIOLOGICAL ASSETS AT FAIR VALUE

Abstract: the paper focuses on the development of the concepts of formation of a qualitative system of monitoring and accounting of biological assets. In particular, such aspects as the structuring of accounting not only for agricultural products or processing complex, but also the possibilities for the formation of appropriate accounting information are considered. The authors show that on the basis of interaction with other objects, they provide the production of environmentally friendly goods and services. In livestock breeding, biological assets include breeding animals, which are used primarily to obtain other animals for commercial purposes or to create a gene pool of the corresponding breed. Responsibility in relation to other participants of agricultural activity forces breeding farms to create appropriate conditions for keeping and breeding animals, allowing to achieve not only high productivity, but also their ecological purity. Livestock breeding is characterized by a variety of breeds of bred cattle, ensuring the sustainability of agribusiness. A specific feature of breeding animals is their ability to transmit to future generations economically valuable qualities. The qualitative presentation of information on breeding biological assets in the reporting depends on the reliability of their assessment.

Keywords: asset, animals, agriculture, management, accounting

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