Methodical Approaches to Accounting and Controlling Agricultural Enterprises’ Property under Martial Law
Journal Title: Oblik i finansi - Year 2024, Vol 1, Issue 2
Abstract
The full-scale military invasion significantly affected the operation of the agricultural sector of the Ukrainian economy, in particular, the management of the assets of business entities. New challenges and threats have appeared related to the destruction of property, its occupation, theft, change in value or write-off. Accordingly, this requires adapting methodical approaches to accounting for the property of agricultural enterprises to the new economic conditions. The article's purpose is to reveal methodical approaches to the accounting of the property of agricultural enterprises, which will ensure the reliability, transparency, relevance and quality of accounting information in martial law conditions. Also, the research aims to identify key models of property accounting in the agricultural sector during the war. The authors analyze the existing legal framework aimed at regulating issues related to the control over property under martial law. Possible models of recognition/termination of accounting of property damaged due to hostilities, stolen or located in temporarily occupied territories, and which are aimed at ensuring proper accounting, control and management of property in martial law conditions, were identified. The key models of recognition and accounting of property (non-current assets, capital investments and stocks) are highlighted depending on the consequences of military actions, which demonstrate how various management decisions made by the management of the enterprise in martial law conditions affect the status of assets. Such models emphasize the importance of implementing a clear and transparent accounting policy that considers the impact of extraordinary circumstances on the enterprise's property and control over it. The accounting, tax and legal consequences of seizure and forced alienation of property under martial law were characterized. Properly organized accounting will help the management of the enterprise make decisions regarding restoration, insurance, and loss replacement, and it will also avoid negative tax and accounting consequences.
Authors and Affiliations
Stanislav Vasylishyn & Yuliia Nezhyd
Keywords
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- EP ID EP741947
- DOI 10.33146/2307-9878-2024-2(104)-5-14
- Views 70
- Downloads 0
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