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Chinese Model of Land Use Accounting: Lessons for Ukraine

Author

Listed:
  • Serhiy Ostapchuk

    ('Institute of Agrarian Economics' National Scientific Center, Kyiv, Ukraine)

Abstract

One of the most effective methods for solving economic problems is the study of foreign experience. The article is devoted to the disclosing the basics of accounting for land-use in China and determining the prerequisites for the introduction of an effective model of accounting for land-use in Ukraine. Attention is focused on the legal and accounting aspects of land relations in China. The analysis of methodological bases of the accounting of the rights to use land which are contained in the Chinese Accounting Standards is carried out. It was revealed that Chinese enterprises do not reflect land in the financial statements, but show in the balance the right to use land, which is classified as an intangible asset. The cost of such right is determined by calculating the costs associated with its acquisition. Therefore, the rights holder in China can more quickly capitalize lease payments as assets in the balance sheet than recognize them as expenses, even if in economic terms it is an operating lease. The accounting of the expenses related to the right occurs due to the annual accrual of depreciation for its cost. Based on the study of China's experience, the prerequisites for effective construction of accounting of agricultural lands and the rights to use land in Ukraine was determined.

Suggested Citation

  • Serhiy Ostapchuk, 2017. "Chinese Model of Land Use Accounting: Lessons for Ukraine," Oblik i finansi, Institute of Accounting and Finance, issue 2, pages 57-62, June.
    • Handle: RePEc:iaf:journl:y:2017:i:2:p:57-62
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    References listed on IDEAS

    as
    1. Volodymyr Shevchuk, 2013. "Assets as Accounting, Control and Analysis Objects: Ecology&Economic Identification and Interpretation," Oblik i finansi, Institute of Accounting and Finance, issue 1, pages 66-73, March.
    2. Ma, Shuang & Mu, Ren, 2017. "Forced off Farm? Labor Allocation Response to Land Requisition in Rural China," IZA Discussion Papers 10640, Institute of Labor Economics (IZA).
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    legal status; land relations; accounting for land-use; right to use land; agricultural land; Chinese Accounting Standards;
    All these keywords.

    JEL classification:

    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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