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Improving the accounting for cost capitalization transactions on biological assets

Vugar Mehdiyev Mukhtar, Ph.D., docent

vugarmehdiyev@yandex.ru

16466 ­ ­ AZ ­ ­ 43. April 2023 ­ ­­ ­ biological assets capitalization of costs

 

UOT: 338.43, 338.512: 636/637

The article explains the economic nature of biological assets, analyzes the current state of their accounting, and examines the issues of improving this area of accounting based on them. As biological assets are a part of the long-term assets of the enterprise, a number of characteristic business operations related to them may occur.Taken as a whole, the accounting issues of biological assets have been examined in the context of accounting and analytical procedures typical for other types of long-term assets existing in the enterprise and their characteristic features have been shown. The author pointed out that there are not enough scientific studies on the accounting of business transactions related to biological assets, as well as the capitalization of costs related to them, and it was emphasized that there is a serious need for research in this area of accounting. Here, the economic nature, characteristic features of capitalization operations related to biological assets, the content of business operations that may occur in this area, and the rules for their reflection in accounting are explained. At this time, new accounting correspondences for separate business operations were drawn up, and the issues of using the relevant provisions of international standards in these processes were explained. At the end, the results obtained from the research work were shown, and also suggestions were given for the improvement of this area of accounting.

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AUTHORS

 

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Idris. Hojatov

Ministry of Science and Education of the Republic of Azerbaijan, Institute of Dendrology

  junior researcher  

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Aygun. Salimova

Student of Azerbaijan State University of Economics (UNEC)

   

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Ramil. Aliyev

Ph.D. student of the Agricultural Research Center

   

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Ramil. Huseyn

Center for Economic Reforms and Communication

  Doctor of Economics  

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Aytekin. Huseynli

Ph.D. student of the Baku State University

   

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Gamar. Ibrahimova

Special Constructor Technology Bureau of the National Aerocosmic Agency

   

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Firdovsi. Fikratzade

Doctoral student at the Institute for Scientific Research on Economic Reforms

  Doctor of Philosophy in Economics  

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Rovshan. Guliyev

Azerbaijan State Economic University (UNEC)

  prof, dr  

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Arzu. Huseyn

Azerbaijan Tourism and Management University

  Ph.D., docent  

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Gurban. Mirzayev

Azerbaijan State Agrarian University

   

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Mushfiq. Tukanov

Ph.D. student of the Agricultural Research Center

   

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Fuad. Rzayev

Ph.D. student of the Azerbaijan Technical University

   

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Zohra. Abbasova

Ph.D. student of the Agro Researches Center

   

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Andriy. Popovych

Instytut Ekonomiki Rolnictwa i Gospodarki Żywnościowej, Warszawa, Polska / Agricultural and Food Economics State Research Institute, Warsaw, Poland

  Ph.D.  

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Vahid. Amrahov

Azerbaijan State Agricultural University

  Ph.D., docent  

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Fakhraddin. Aghayev

Vegetable Research Institute