RECORDING OF STATE GRANTS RECEIVED FOR LIVESTOCK FARMING

Abstract

This article examines the forms of state financial support for the livestock sector in the Republic of Uzbekistan, in particular, the economic substance of subsidies, state grants and other types of state aid and their reflection in accounting. A comparison of national and international approaches to accounting for state aid in livestock farming is provided. Based on the requirements of NAS No. 10 - "Accounting for State Aid and Clarification of Information on It", IAS No. 20 - "Accounting for State Grants and Disclosure of Information on State Aid", as well as NAS No. 5 - "Fixed Assets", IAS No. 41 - "Agriculture", a procedure for recognizing, measuring, reflecting as income and reflecting state subsidies and grants in financial statements has been developed. Accounting entries are also presented using hypothetical examples related to the acquisition of breeding livestock, partial reimbursement of costs for the maintenance of biological assets and the financing of livestock projects.