Accounting for Forestry Enterprise's Activity: State and Perspectives

The article is devoted to the disclosure of actual problems of accounting in forestry enterprises, because the forestry executes the important ecological, economic, political and social functions. The purpose of the study is to identify the problems of accounting in forestry enterprises and justify the directions for their solution. The branch features that affect the organization of accounting were disclosed. In particular, they are: the use of biological forest assets, a long operational production cycle – growth of forest plantations, forest management is carried out by various bodies. The authors analyzed the state and problems of accounting in the forestry sector, among which: lack of trustworthy forest valuation methods for accounting purposes; non-recognition of biological assets in accounting and financial reporting; shortcomings in the calculation of finished products; incompleteness of statistical reporting and others. Based on the results of the study, the actual tasks of accounting for forestry enterprise's activity were determined. They include the development of methods for assessing of forest resources, the methods for accounting of forest biological assets, methods for calculating of products value, approving the National Accounting Standard 'Forestry', improving of statistical reporting in forestry sector by supplementing it with indicators that relate to the initial and fair value of forest biological assets, expenditures on protection, reproduction of forests, development of the forest infrastructure in terms of own and budgetary funds. It was revealed that for the purpose of trustworthy valuation of forest biological assets it is advisable to combine existing methods of estimating fair value and actual (historical) cost based on a certain sequence of actions.