Theoretical and Methodological Approaches to Determining the Essence of Forest Resources of Wood Origin and Improving their Classification for Accounting Purposes

Abstract

Wood-based Forest resources constitute a strategic component of the state’s natural and economic potential, ensuring environmental stability, economic growth, and social well-being. In the context of Ukraine’s transition to a “green” economy, the issues of effective management, rational utilization, and proper accounting representation of forest resources are gaining particular relevance. At the same time, the imperfection of the theoretical and methodological foundations of their essence and the absence of a unified classification complicate their identification, measurement, and representation within the accounting system.

The article systematizes approaches to interpreting the concept of “forest resources” in the works of domestic and foreign scholars, reveals their economic and ecological nature, and defines their place within the accounting system of biological assets. Emphasis is placed on the fact that wood-based forest resources have their own life cycle, which includes the stages of afforestation, maintenance, maturity, harvesting, and regeneration. It is proved that each of these stages generates specific accounting objects that require a differentiated methodological approach.

An analysis of current accounting practices demonstrated the inconsistency of existing approaches with the principles of accrual and matching of income and expenses, leading to distortions in the financial results of forestry enterprises. An improved classification of wood-based forest resources has been proposed, taking into account their life cycle and economic potential. This approach ensures the integration of environmental, biological, and financial aspects into the accounting system, enhances the analytical informativeness of reporting, and contributes to a more accurate assessment of asset value and transparency of management decisions. The obtained results form a theoretical basis for the further development of models for evaluating forestry biological assets and for the implementation of environmentally oriented accounting policies in corporate structures.