Abstract
This dissertation examines the theoretical foundations and practical aspects of recognizing biological assets as key components of both economic resource systems and the green economy. It analyzes the dual nature of biological assets as financially productive and ecologically regenerative and evaluates international and national accounting practices regarding their classification, recognition, and valuation. The research highlights the challenges faced by developing countries, particularly Uzbekistan, in implementing fair value accounting due to weak market infrastructure, institutional limitations, and insufficient integration of ecological data into financial systems. Empirical studies and case analyses confirm that effective biological asset management leads to improved financial performance and greater alignment with sustainable development goals. The study concludes with policy recommendations aimed at enhancing institutional capacity, accounting methodology, and the integration of biological assets into national green economy strategies.