Home  Journals  International Accounting  8(254) - 2013 February

Biological assets: economic interpretation, evaluation, problem

Available online: 25 February 2013

Subject Heading: ON THE WAY TO THE INTERNATIONAL STANDARDS

JEL Classification: 

The development of market relations in the modern conditions in the agricultural sector of the economy suggests the need to create an effective system of management of agricultural organizations, which is inextricably linked with the proper organization of accounting. It is recognized that accounting is aimed at providing basic information needs of both internal and external users of accounting information for the adoption and implementation of objective economic decisions. Therefore, the information specified in the present conditions must have certain properties and quality characteristics, which requires to make more active steps to reform the accounting in agriculture in accordance with generally recognized principles and requirements of International Financial Reporting Standards (IFRS).

Keywords: biological assets, IAS 41, fair value, FDR, "Accounting for biological assets and agricultural products"

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ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

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