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Abstract. The article analyzes the current regulatory documents that regulate the accounting of expenses in agricultural organizations in Russian practice, analyzes and analyzes the international experience of procedures for preparing and presenting financial statements of agricultural producers. It is established that the definition of the concept of «expenses» in the Russian accounting practice of agricultural organizations and in the Conceptual Basis of Financial Reporting is almost identical. The article presents the classification of production costs by 17 features, shows the main differences to the classification of costs in the Russian practice and in accordance with International Financial Reporting Standards. It is determined that IFRS entitle organizations to classify expenses in different ways depending on historical and sectoral factors, as well as on the nature of the organization’s activities, while the Russian practice of accounting for expenses requires an unambiguous allocation of expenses for ordinary activities and other expenses. The article discloses the procedure for recognition and measurement of expenses in IFRS and PBU 10/99. Analysis of the Russian accounting practice of recognizing expenses in agricultural organizations has shown that the conditions for recognizing expenses in PBU 10/99 and in the Methodological Recommendations on Accounting of Revenues, Expenses and Financial Results of Agricultural Organizations are identical. In the Conceptual Basis of Financial Statements, unlike RAS, there is no requirement for mandatory compliance with such a cost criterion as the existence of a contract, the requirements of legislation or the customs of business turnover. The article gives recommendations on bringing in the current in the Russian Federation Methodical recommendations on accounting of incomes, expenses and financial results of agricultural organizations for compliance with the requirements of PBU 10/99 and the Conceptual Framework of Financial Reporting. The results of the analysis presented in the article were used in the performance of the research work of the RGAU-MAAA named after K. A. Timiryazev commissioned by the Ministry of Agriculture of Russia «Updating of methodological recommendations on accounting in agricultural organizations» (Order of August 28, 2017 № 436).