Home  Journals  International Accounting  32(230) - 2012 August

Principles of recognition and estimation of biological assets

Available online: 23 August 2012

Subject Heading: ON THE WAY TO THE INTERNATIONAL STANDARDS

JEL Classification: 

With development of the market relations the need of formation for the agricultural sphere an effective control system became urgency. In research domestic regulations and the International Financial Reporting Standard (IFRS) regulating agriculture as a type of economic activity are compared, various aspects of the accounting of biological assets are analyzed, the technique of an assessment of biological assets at fair value is presented. The conclusion is drawn on the need of introduction of IFRS (IAS) 41 "Agriculture" in the Russian practice as the assessment of biological assets at fair value net settlement marketing expenses is the most effective and rational.

Keywords: biological actives, biotransformation, fair cost

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

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