Home  Journals  International Accounting  6(138) - 2010 June

Recognition of feed crops production in progress according to ifrs in agro-industrial complex organizations

Available online: 7 June 2010

Subject Heading: PROBLEMS OF ACCOUNTABILITY

JEL Classification: 

The notion of fair value is widely used in 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 the problem of determining fair value of immature biological assets at the date of reporting before their full ripening and the beginning of harvesting. In the present article we suggest a method of feed crops production in progress evaluation based on the stages of crop development and the nutritive value of the subsequent foodstuff, 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

View all articles of issue

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

Journal current issue

Vol. 27, Iss. 4 April 2024

Archive