Accounting for Leases of Biological Livestock Assets

Petro Suk ()
Additional contact information
Petro Suk: National University of Life and Environmental Sciences of Ukraine, Kyiv, Ukraine

Oblik i finansi, 2015, issue 2, 52-58

Abstract: The purpose of the article is the analysis and assessment of options of animals lease, disclosure of accounting for lease transactions and settlements between landlords and tenants. Biological livestock assets can be transferred in the financial and operating leases. The specific features of the lease are due to the fact that: a) the animals, as living organisms require constant care, regardless of their legal and de facto owner; b) a significant part of animal products produced in the farms of citizens who are not required to keep records and prepare financial statements. Taking the example with cows the article offers the procedure for determining the rent for the facility and financial costs in connection with the installments for the period of the lease. Disclosed the method of accounting calculations for the tenant and the landlord, which are legal entities. The problems of identification and registration of farm animals are considered. It is proved that under the conditions of the lease the registration of farm animals should be carried out by the holder of animals as owner or tenant, which owns them under the terms of finance lease.

Keywords: biological livestock assets; lease; depreciation; financial accounting; zootechnical accounting (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.afj.org.ua/pdf/271-oblik-orendi-biologichnih-aktiviv-tvarinnictva.pdf (application/pdf)
http://www.afj.org.ua/en/article/271/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:iaf:journl:y:2015:i:2:p:52-58

Access Statistics for this article

Oblik i finansi is currently edited by Valeriy Zhuk

More articles in Oblik i finansi from Institute of Accounting and Finance Contact information at EDIRC.
Bibliographic data for series maintained by Serhiy Ostapchuk ().