Work

The methods of valuation in agricultural accounting

Year: 2010

Type: article

Abstract: This paper deals with the valuation of the biological assets and agricultural production. There are analyzed two approaches: Czech and international. The International Accounting Standards are emulative of more authentic presentment of economic processes in agricultural activities than Czech accounting legislation. From the comparison the both approaches accrued some differences, which can influent the financial statements of enterprises. The causation of main difference appears an application of fair value, which is prescribed for biological assets and agricultural production in international accounting standards. In international accounting standards is preferred principle of fair and true view, while in Czech accounting is preferred prudence principle.

Source: Agricultural Economics (Zemědělská ekonomika)

DOI: 10.17221/1487-agricecon

Author: Jaroslav SEDLÁČEK

Institution: Masaryk University

Language: Czech

Topic: Accounting Theory and Financial Reporting

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Zero hunger

Open Access status: gold

Estimated APC paid: $609