It has been analyzed the correspondence between national and international accounting systems in the public sector. It has been grounded the necessity of development of IPSAS 136 "Biological assets" under IAS 27 "Biological Assets". Its structure and content are considered.

Introduction. The use of national accounting standards in the public sector, which are built on the basis of international facilitate objective and reliable information display is considered. Development of Standard 136 "Biological assets" for the public sector (agricultural research institutions) will help to establish a single order of accounting and disclosure regarding agricultural activities and biological assets on the issues during the period of growth, production and reproduction, harvesting.

Purpose of the study is to identify the problematic issues of regulatory support of the development of accounting standards in the public sector; to justify the need to prepare IPSAS 136 "Biological assets" and offer its content.

Methodology. The methodological basis of the study can bocome general scientific and special methods of learning. In particular, the methods that have been used are the method of  causation and abstract logic. They have been used while analyzing regulatory support of developed national accounting standards in the public sector on the basis of  international ones in both the public and the commercial sectors. Methods of synthesis, comparison, analysis and synthesis have been applied for the determination of the structure and contents IPSAS 136 "Biological assets".

Results. The conducted studies indicate partial compliance of Ukrainian standards of accounting and reporting in the public sector with international ones. In particular, the following principles are not used: the priority of economic substance of transactions on their legal form; the concept of future economic benefits and potential usefulness; the classification of assets and liabilities, income and expenses is done in a different way; it has not been identified as a separate category of objects such assets as investment property and assets heritage, provisions, contingent liabilities and contingent assets; it has not been carried out the evaluation of objects according to fair value; estimation of liabilities at fair value is not available. In general standards of accounting and reporting in the public sector meet IFRS requirements at composition and structure and will be improved in the process of their implementation. As among the approved standard there is no IPSAS 136 "Biological assets" then it has been proposed to provide  7 chapters in its structure: provide "general provisions" (determination of scope of the activity); "recognition and measurement" (conditions when biological asset and / or agricultural products are recognized as asset); "inability to estimate reliably the fair value" (depending on the conditions for obtaining a biological asset); "income and expense of agricultural activities" (the essence of the recognition of revenue, costs and their composition); "result of agricultural activities" (structure of surplus or deficit for the period in which they arise); " information disclosure" (identification of key components that are disclosed in the financial statements); "transitional provisions" (consistency of accounting policies). 

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