Unification of Financial Statements for Presentation of Government Support Funds by Farm Enterprises

The article provides the analysis of forming the government-support-related accounting data - from the farm enterprise primary documents to the consolidated accounting and financial statements. Specifics of accounting and reporting according to various categories of multi-size farms have been defined. It has been found that separate financial statements do not provide users with relevant information on the scope of government support at the micro and macro level. The statements fail to present information in the context long-term and short-term support which does not comply with the International Financial Reporting Standards and requires the support to be separated according to the terms of delivery. According to the author the government support is not disclosed in separate items, therefore the need for unification of certain forms of financial statements and aggregation of information on the government support for various farms aimed at analytical assessment and control over the efficiency of the intended funds' use has been outlined.