Accounting of biological assets at their fair value

Автор: Shishkova T.V., Beryoza A.O.

Журнал: Juvenis scientia @jscientia

Рубрика: Экономика и управление

Статья в выпуске: 3, 2016 года.

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The article deals with the main problems of applying ISA 41 by the Russian agricultural companies in the accounting of biological assets at their fair value. The introduction of fair value accounting is accompanied by the emergence of a number of methodological and practical problems. Currently there are no approved approaches to the identification and documentary fixing of the market prices for agricultural products and biological assets to determine their fair value. But even fixation of any methods at the legislative level will not solve all problems. The important issues that hamper the practical implementation of evaluation of biological assets at fair value, is the lack of practice of the daily valuation of assets at fair value, not only in agriculture but also in other economic activities, inadequate external information support of accounting and analytical services, the complexity of the methodological approaches to determine the fair value of biological assets, their practical non-adjutancy. The proposed methodology of the author is aimed at the solution of this problem. It is designed to solve the problem of the lack of unified science-based approaches to determine the fair value of biological assets, facilitate the practical implementation of IAS 41 and the work of accounting and analytical services of agricultural organizations in Russia

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Accounting, international standards, fair value, biological assets

Короткий адрес: https://sciup.org/14110113

IDR: 14110113

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