Improvement of Farm Enterprises Financial Statements Regarding State Support

Natalia Zdyrko ()
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Natalia Zdyrko: Vinnytsia National Agrarian University

Oblik i finansi, 2013, issue 2, 16-24

Abstract: The procedure for farms financial statements preparation with particular disclosure of information as to the government support funds has been established. Changes in the forms of financial reporting according to farm category and size have been marked out. It has been found that certain forms of financial statements do not reflect relevant information required by users at micro and macro level in terms of public support. The statements lack disclosure of information on income received from realization of budget funds, flow of budget funds as per activity category, as well as current and non-current assets to be acquired by farm businesses for the budget funds gained. Since the state support is not stipulated by any particular items in financial statements, the author has made a proposal for unification of certain forms of financial statements and consolidation of information on the state support for various farms in order to provide analytical evaluation and control over the intended funds and their use efficiency.

Keywords: farms; government support; budget; intended use; the financial statements; IFRS (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2013
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