Fair value of biological assets in agribusiness companies’ reporting according to IFRS and AAOIFI standards

The article studies the practical experience of reflecting biological assets financed through sukuk (Islamic securities) at fair value in the financial statements of agribusiness companies published in accordance with International Financial Reporting Standards (IFRS) and the standards of AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) - an international organization that develops international standards of management, ethics, accounting, internal and external control and audit based on the principles of partnership (Islamic) financing. The purpose of the study is to identify more advanced methodological approaches to reflecting biological assets financed through sukuk in the financial statements of agribusiness companies compiled in accordance with International Financial Reporting Standards and AAOIFI standards, taking into account the developments of modern scientists and practical experience in applying fair value. The author identified differences in the requirements for presenting biological assets in accordance with International Financial Reporting Standards, AAOIFI standards and Russian Accounting Rules. As a result of the conducted research, the article adapts approaches to reflecting biological assets at fair value in the financial statements of organizations, taking into account the specifics of agricultural companies.