PERPETUAL LEASE: FEATURES OF ACCOUNTING
Journal Title: Інноваційна економіка - Year 2017, Vol 67, Issue 1
Abstract
Purpose. To deepen the methods of recording rights to use the land for agricultural purposes under the perpetual lease contract. Methodology of research. Theoretical and methodological basis of the study is a systematic approach to the problem of accounting law to use the land for agricultural purposes. During the study were used general scientific methods – induction, deduction, synthesis, analysis, dialectical, historical, generalizations and specific methods of accounting – documentation, evaluation, accounting records. Finding. The results of the analysis of the practice of conducting perpetual lease contract found a significant interest of agricultural enterprises to use someone else's land for agricultural purposes under the perpetual lease contract. It is established that despite the fact that the perpetual lease is regulated by law, in accounting there are difficulties related to the display of this right, due to the lack of a clear mechanism of perpetual lease accounting. It is proven that in accounting a perpetual lease should be identified as an intangible asset. It was found that the documentary reflection of the right to use someone else's land agricultural enterprises to use the adapted standard forms of primary accounting of objects of intellectual property rights. Originality. It is proven legitimacy of the use of subaccount 122 «Right to use property» to display a perpetual lease in accounting. It is proposed agricultural enterprises charging fees for the use of someone else's land to reflect on the subaccount 915 «Rent for land». For the reflection in accounting of operations of payments to the land owners set to use subaccount 685 «Settlements with other creditors». It is proposed the period for which the land transferred for use under perpetual lease contract to equate to the useful term for depreciation purposes. Practical value. The results will contribute to the development of research methods and perpetual lease accounting will have a scientific basis for the further development of land market in Ukraine.
Authors and Affiliations
Tetiana Yurchenko
Keywords
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