Abstracting and IndexingРИНЦReferativny Zhurnal VINITI RAS Worldcat Google Scholar Online availableEastvieweLIBRARY.RU Biblioclub |
Recognition of cash crops production in progress according to IFRS in agro-industrial complex organizations
Available online: 19 May 2010 Subject Heading: PROBLEMS OF ACCOUNTING JEL Classification:
According to IFRS, evaluation of assets at their fair value requires the existence of an active market for this kind of property. In the process of evaluating unfinished production in crop production industry, agricultural enterprises face with the problem of determining the fair value of immature biological assets at the date of reporting before their full ripening and the beginning of harvesting. This presents an actual question for the companies of agricultural sector which are going through the transition to the practice of financial reporting according to IFRS. In the present article we suggest a method of cash crops production in progress evaluation based on the stages of crop development, which allows to present objective information about the above-mentioned types of assets in agricultural companies. Keywords: unfinished production, biological assets, fair value, IFRS, RAS (Russian Accounting Standards), transformation, agricultural sector, agro-industrial complex, agricultural business, International accounting practices, accounting practices in agriculture, financial accounting |
ISSN 2311-9381 (Online)
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