Valuation of Biological Assets as the Element of Accounting Method

Domestic accounting, which approaches the internatinal and European standards, requires particular attention to be taken to measurement of biological assets from the point of view of existance of difference approaches thereto. The purpose of the article is to analyze organizational and methodological framework of measurement of biological assets at fair and initial value as stated in the international standards and regulatory and legal documents of post-soviet and European countries, to determine areas of concern in application thereof. The norms stated in the international standards in corporate and state sectors are compared in relation to the methods of measurement of biological assets. It deals with the analysis of the organizational and methodological framework of measurement of biological assets and agricultural products in post-soviet countries. It discloses the problematic aspects related to measurement of biological assets at fair value in certain European countries. It is found that the state of development of the national economy, accounting tendency, level of development of the regulatory support in the aggregate result in certain difficulties of application of accounting measurement of biological assets at fair value.