ORGANIZATION OF ACCOUNTING PROCESS FOR EXPORT FOR FORESTS UNDER DOMESTIC AND INTERNATIONAL STANDARDS

Abstract

Forestry plays a significant role in the development of the Ukrainian economy. Forestry products of Ukraine are competitive both in their state and abroad. In connection with the gradual transition of national accounting legislation to international standards, there is an urgent need to study the existing differences regarding the specifics of accounting organization in forest enterprises.

Recent changes in accounting legislation, in particular the Law of Ukraine "On Accounting and Financial Reporting in Ukraine", make it possible to understand that there is a continuing trend towards approximation of requirements and provisions of domestic and international accounting and reporting legislation.

Currently only large enterprises are included in this list. But the further list of enterprises that will report on international standards will gradually increase and will be referred to medium-sized enterprises to which category, in its bulk, are forest enterprises.

Forestry is not attracting investors, because in order to make a profit for a certain time, and they want to get quick return on investment, the problem of attracting investors to forestry and assessing the efficiency of investments is extremely relevant.

In our opinion, in order to increase the contributions of foreign investors to the forestry, it is necessary to increase their investment attractiveness and to improve certain areas of forest policy, which will enable to obtain credit and tax preconditions for funding projects for the reproduction of forest resources. Increasing the investment attractiveness of forestry business, especially for foreign investors, can be by means of accounting and financial reporting according to international standards, that is, in the "language" understood by foreign investors.

Summarizing the above information, it should be noted that the characteristics of forestry enterprises are not sufficiently reflected in national standards in international accounting and reporting.

Equivalence of forestry activities with agricultural standards in accounting standards is not feasible, as the characteristics of these industries are inherent to each other and can not be subject to the same accounting principles and methods.

In our opinion, it is advisable to develop a separate accounting standard, analogous to agriculture, which describes the procedure and basic principles of accounting for forestry activities: accounting for the costs of activities, the formation of the initial value of forestry products, the distribution of accumulated costs between different types of products, etc.