• Ingrida Balaboniene Kauno technologijos universitetas
  • Lina Dagiliene Kaunas University of Technology
  • Violeta Mykolaitiene Kaunas University of Technology
  • Giedre Vecerskiene Kaunas University of Technology



environmental accounting, state-owned land, fair value, public sector


The paper presents accounting peculiarities of one of the most important State-owned property groups - the State-owned land. The financial reports submitted by the National Land Service under the Ministry of Agriculture and State Enterprise (SE) Center of Registers are not unanimous. According to the State Control, it was determined in the Ministry of Agriculture that the National Land Service indicated the improperly calculated fair value of the State-owned land (the coefficient of change in the value of one hectare was applied). It was indicated in the audit report that the method for determination of the land’s fair value used at present is unsuitable because it does not show the changes in possible values of all the land, cannot guarantee the objective determination of the land’s fair value, and does not satisfy the requirements of the clause 42 of the 12th Standard of Accounting and Financial Accountability in Public Sector. The State Control considers that the value of land lots would be determined more precisely according to the data of the map of land’s values, which are used by SE Center of Registers to determine average market value. According to the date of the SE Center of Registers, from total 2548,1 thousand ha of the State-owned land present in the beginning of the year 2012, only 1079,0 thousand ha, or 42,3 percent of the State-owned land was registered in the Register of Real Estate (35,6 percent in the beginning of the year 2011), and this misrepresents the data about financial situation of the State-owned land.

The problem of determination of the fair value of State-owed property is stressed in the works of the Lithuanian scientists. The real value of the State-owned land was calculated by assessing the different land areas prices in each municipality. The analyzed volume of non-registered State-owned land and their assessment in fair value would allow showing the real and correct financial value of the State-owned land.

Objective of the article is to analyze the accounting aspects of the State-owned land and to present the calculations of fair value of the State-owned land for the year 2013.







Accounting, Auditing, Taxation and Governance