PROBLEMS AND FUTURE OF ACCOUNTING FOR LAND RESOURCES IN UKRAINE

Mykhailo Prodanchuk, Serhii Ostapchuk

Abstract


Introduction. On July 1, 2021, the land market will start operating in Ukraine. This means that agricultural land will become a market commodity, and it motivates researchers and practitioners to rethink the current provisions of accounting for land and, as a result, to develop effective accounting mechanisms for fixing the state, value and movement of land capital in a market environment. Methods. The authors used the following methods of scientific knowledge to ensure a comprehensive study of the problems of accounting for land resources as analysis and synthesis, abstracting, induction, comparison method, tabular method. The method of modelling and idealization was applied to substantiate promising areas for solving the problems of accounting and analytical support for land management. The authors rely on modern world trends in the development of accounting and the transformation of its traditional paradigm. Results. The existing problems of accounting for land were systematized. In particular, the main problem areas of accounting for land are: 1) the inconsistency of the existing methodology with the economic and biological nature of the land as a specific asset; 2) an imperfect method of monetary valuation of land for accounting purposes; 3) the limited analytical information necessary to control rational land use; 4) the indicators of financial statements for land assets no longer satisfy the growing information needs of stakeholders. The subjective priority of assessing the value of rights to use agricultural land was disclosed. The prospects for the development of accounting for land based on identifying key areas for its improvement were substantiated. Discussion. The directions of development of accounting and analytical support for land management presented in this work are based on an analysis of the latest global trends in the evolution of accounting and reporting. They are a guideline for scientists and researchers in the formation of research topics and the basis for the formation of new hypotheses regarding the future of accounting for land in Ukraine.

Keywords


accounting for land resources; agricultural land; monetary valuation of land; non-monetary meters; non-financial and integrated reporting

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References


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DOI: https://doi.org/10.35774/ibo2020.02.071

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"Scientific Club "SOPHUS"
West Ukrainian National University
Higher Education Institution "Podillia State University"