Accounting for Leases of Biological Livestock Assets

The purpose of the article is the analysis and assessment of options of animals lease, disclosure of accounting for lease transactions and settlements between landlords and tenants. Biological livestock assets can be transferred in the financial and operating leases. The specific features of the lease are due to the fact that: a) the animals, as living organisms require constant care, regardless of their legal and de facto owner; b) a significant part of animal products produced in the farms of citizens who are not required to keep records and prepare financial statements. Taking the example with cows the article offers the procedure for determining the rent for the facility and financial costs in connection with the installments for the period of the lease. Disclosed the method of accounting calculations for the tenant and the landlord, which are legal entities. The problems of identification and registration of farm animals are considered. It is proved that under the conditions of the lease the registration of farm animals should be carried out by the holder of animals as owner or tenant, which owns them under the terms of finance lease.