BIOLOGICAL ASSETS IN FINANCIAL STATEMENTS: CHALLENGES AND APPLICATIONS OF IAS 41 IN SERBIA
Ključne reči:
poljoprivredni sektor, fer vrednost, MSFI, MRS, finansijsko izveštavanje
Sažetak
Poljoprivredne aktivnosti, zbog svojih specifičnih karakteristika, regulišu se posebnim standardom – Međunarodnim računovodstvenim standardom 41 – Poljoprivredne aktivnosti, koji pravi jasnu razliku između biološke imovine i poljoprivrednih proizvoda. Svrha ovog rada je razmatranje prikazivanja i vrednovanja biološke imovine u finansijskom izveštavanju javnih društava na teritoriji Republike Srbije. Pored toga, izvršena je analiza sadržaja revizorskih izveštaja uzorkovanih društava kako bi se utvrdila usklađenost finansijskog izveštavanja o biološkoj imovini sa regulatornim okvirom. Istraživanje je sprovedeno na dva uzorka, pri čemu je prvi obuhvatio 582 javna društva sa Beogradske berze tokom 2017. godine, dok je drugi uključio analizu sadržaja revizorskih izveštaja 397 javnih društava iz 2018. godine. Rezultati istraživanja pokazuju da je u sektoru poljoprivrede, šumarstva i ribarstva najčešća stavka vrednost biološke imovine, pri čemu je 17 javnih društava iskazalo vrednost biološke imovine u skladu sa MRS 41. Analiza revizorskih izveštaja otkrila je da su uzorkovana društva generalno bila usklađena sa MRS 41 i drugim regulatornim okvirom prilikom izveštavanja o biološkoj imovini.
Reference
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Argilés, J., Bladon, J., Monllau, T. (2009). Fair value versus historic cost valuation for biological assets: Implications for the quality of financial information. Working Papers in Economics 215, Universitat de Barcelona. Espai de Recerca en Economia.
Argilés, J., Slof, E. (2001). New opportunities for farm accounting. The European Accounting Review, 10(1), 361– 383.
Aryanto, Y., (2011). Theoretical Failure of IAS 41: Agriculture, 2011, Available at: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1808413. (Accessed on 17.9.2020).
Athanasios, V., Stergios, A., Laskaridou, E. (2010). The importance of information through accounting practice in agricultural sector-European data network. Journal of Social Sciences, 6(1), 221–228.
Barlev, B., Haddad, J. (2003). Fair value accounting and the management of the firm. Critical Perspectives on Accounting, 14(4), 383-415.
Beke-Trivunac, J. (2019). Računovodstveni standardi izveštavanja o održivom poslovanju, Ecologica, 93(1), 31-37.
Canadian Institute of Chartered Accountants (1986). Comptabilité et Information. Financière des Produc- teurs Agricoles. Toronto.
Cvetković, A., Marić, M. (2019). Značaj finansijske podrške i druge pomoći države razoju organske poljoprivrede u Republici Srbiji. Ecologica, 94(1), 212-217.
Deloitte, (2019). IAS 41 — Agriculture, Available at: https://www.iasplus.com/en/standards/ias/ias41. (Accessed on 17.7.2020).
Dobrunik, T., & Volchek, R. (2024). Features of accounting valuation of biological assets of agrobusiness entities. International scientific conference on accounting ISCA 2024, (pp. 81-87). Chisinau.
Dowling, C., Godfrey, J. (2001). AASB 1037 sows the seeds of change: A survey of SGARA measurement methods. Australian Accounting Review, 11(1), 45-51.
Elad, C. (2004). Fair value accounting in the agricultural sector: Some implications for International Accounting harmonization. European Accounting Review, 13(4), 621-641.
Elad, C. (2007). Fair value accounting and fair trade: An analysis of the role of International Accounting Standard No. 41 in social conflict. Socio-Economic Review, 5(4), 755-777.
Feleagă, L., Feleagă, N., RăIleanu, V. (2012). Theoretical considerations about implementation of IAS 41 in Romania. Theoretical and Applied Economics, 19(2), 31-38.
Fischer, M., Marsh, T. (2013). Biological Assets: Financial recognition and reporting using US and international accounting guidance. Journal of Accounting and Finance, 13(2), 57-74.
Goncalves, R., Lopes, P., & Craig, R. (2017). Value relevance of biological assets under IFRS. Auditing and Taxation, 29, 118-126.
Herbohn, K. (2006). Accounting for SGARAs: A stock take of practice before compliance with AASB 141 Agriculture. Australian Accounting Review, 16(1), 63–77.
Herbohn, K., Herbohn, J. (2006). International Accounting Standard (IAS) 41: What are the implications for reporting forest assets? Small-scale Forest Economics, Management and Policy. 5(2), 175-189.
IFRS (2019). IAS 41 Agriculture. Available at: https://www.ifrs.org/issued-standards/list-of-standards/ias-41-agriculture/. (Accessed 17.7. 2020).
Khushvakhtzoda, K., & Nazarov, D. (2021). The fuzzy methodology’s digitalization of the biological assets evaluation in agricultural enterprises in accordance with the IFRS. Mathematics, 9(8), 901.
Kljajic, M., Jovanovic, M., & Mizdrakovic, V. (2024). Biological assets management: Valuation and disclosure . FINIZ 2024 - Social Media and Contemporary Business (pp. 21-25). Belgrade: Singidunum University.
Kljajic, M., Mizdrakovic, V., & Milojevic, M. (2021). Mandatory audit of financial statements: Does agricultural sector differ from others? Ekonomika poljoprivrede, 68(2), 407-422.
Koiv, K., Lobjakas, L., Parts, V., Visberg, A. (2001). International accounting standard - Agriculture. Proceedings of International scientific conference dedicated to 50th Anniversary of the Estonian Agricultural University, Tartu (Estonia), Available at: https://agris.fao.org/agris-search/search.do?recordID=EE2003000021
Lotfy, M., Abdel Basset, W., & Amin Rasha, M. (2018). Using the fair value method in the assessment of biological assets in order to increase the efficiency aind effectiveness of the finaincial statements. Journal of Environmental Science, 41(2), 425-445.
Mates, D., Grosu, V. (2008). Evaluating and recognising biological assets and agricultural activities according to IAS 41. Lucrări Ştiinţifice, 51(1), 457-462.
Mates, D., Grosu, V., Hlaciuc, E., Bostan, I., Bunget, O., Domil, A., Moraru, M., Artene, A. (2015). Biological assets and the agricultural products in the context of the implementation of the IAS 41: A case study of the Romanian agro-food system. Archives of Biological Sciences, 67(2), 705-714.
Mirovic, V., Milenkovic, N., Jaksic, D., Mijic, K., Andrasic, J., & Kalas, B. (2020). Quality of biological assets disclosures of agricultural companies according to international accounting regulation. Custos e @gronegócio online, 15(4), 43-58.
Penttinen, M., Latukka, A., Meriläinen, H., Salminen O., Uotila, E. (2004). IAS fair value and forest evaluation on farm forestry. Proceedings of Human dimension of family, farm and community forestry international symposium, 67-80.
Savic, B., Obradovic, N. (2020). Izazovi finansijskog izveštavanja o biološkoj imovini. Oditor, 6 (1), 7-21.
Sedláček, J. (2010). The methods of valuation in agricultural accounting. Agricultural Economics, 56 (1), 59-66.
The American Institute of Certified Public Accountants (1996). Audits of Agricultural Producers and Agricultural Co- operatives. New York
Vukmirović, N., Arsenović, D., Lalić, S., Milovanović, D. (2012). Evaluation of accounting acquisition of biological assets and property. Third International Scientific Symposium "Agrosym Jahorina 2012, 723-728.
Yahiya Radhi Saleh, D. (2022). Measurement and disclosure of biological assets in accordance with local bases and international standards. Journal of Positive School Psychology, 6(7), 4892-4901.
Argilés, J., Bladon, J., Monllau, T. (2009). Fair value versus historic cost valuation for biological assets: Implications for the quality of financial information. Working Papers in Economics 215, Universitat de Barcelona. Espai de Recerca en Economia.
Argilés, J., Slof, E. (2001). New opportunities for farm accounting. The European Accounting Review, 10(1), 361– 383.
Aryanto, Y., (2011). Theoretical Failure of IAS 41: Agriculture, 2011, Available at: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1808413. (Accessed on 17.9.2020).
Athanasios, V., Stergios, A., Laskaridou, E. (2010). The importance of information through accounting practice in agricultural sector-European data network. Journal of Social Sciences, 6(1), 221–228.
Barlev, B., Haddad, J. (2003). Fair value accounting and the management of the firm. Critical Perspectives on Accounting, 14(4), 383-415.
Beke-Trivunac, J. (2019). Računovodstveni standardi izveštavanja o održivom poslovanju, Ecologica, 93(1), 31-37.
Canadian Institute of Chartered Accountants (1986). Comptabilité et Information. Financière des Produc- teurs Agricoles. Toronto.
Cvetković, A., Marić, M. (2019). Značaj finansijske podrške i druge pomoći države razoju organske poljoprivrede u Republici Srbiji. Ecologica, 94(1), 212-217.
Deloitte, (2019). IAS 41 — Agriculture, Available at: https://www.iasplus.com/en/standards/ias/ias41. (Accessed on 17.7.2020).
Dobrunik, T., & Volchek, R. (2024). Features of accounting valuation of biological assets of agrobusiness entities. International scientific conference on accounting ISCA 2024, (pp. 81-87). Chisinau.
Dowling, C., Godfrey, J. (2001). AASB 1037 sows the seeds of change: A survey of SGARA measurement methods. Australian Accounting Review, 11(1), 45-51.
Elad, C. (2004). Fair value accounting in the agricultural sector: Some implications for International Accounting harmonization. European Accounting Review, 13(4), 621-641.
Elad, C. (2007). Fair value accounting and fair trade: An analysis of the role of International Accounting Standard No. 41 in social conflict. Socio-Economic Review, 5(4), 755-777.
Feleagă, L., Feleagă, N., RăIleanu, V. (2012). Theoretical considerations about implementation of IAS 41 in Romania. Theoretical and Applied Economics, 19(2), 31-38.
Fischer, M., Marsh, T. (2013). Biological Assets: Financial recognition and reporting using US and international accounting guidance. Journal of Accounting and Finance, 13(2), 57-74.
Goncalves, R., Lopes, P., & Craig, R. (2017). Value relevance of biological assets under IFRS. Auditing and Taxation, 29, 118-126.
Herbohn, K. (2006). Accounting for SGARAs: A stock take of practice before compliance with AASB 141 Agriculture. Australian Accounting Review, 16(1), 63–77.
Herbohn, K., Herbohn, J. (2006). International Accounting Standard (IAS) 41: What are the implications for reporting forest assets? Small-scale Forest Economics, Management and Policy. 5(2), 175-189.
IFRS (2019). IAS 41 Agriculture. Available at: https://www.ifrs.org/issued-standards/list-of-standards/ias-41-agriculture/. (Accessed 17.7. 2020).
Khushvakhtzoda, K., & Nazarov, D. (2021). The fuzzy methodology’s digitalization of the biological assets evaluation in agricultural enterprises in accordance with the IFRS. Mathematics, 9(8), 901.
Kljajic, M., Jovanovic, M., & Mizdrakovic, V. (2024). Biological assets management: Valuation and disclosure . FINIZ 2024 - Social Media and Contemporary Business (pp. 21-25). Belgrade: Singidunum University.
Kljajic, M., Mizdrakovic, V., & Milojevic, M. (2021). Mandatory audit of financial statements: Does agricultural sector differ from others? Ekonomika poljoprivrede, 68(2), 407-422.
Koiv, K., Lobjakas, L., Parts, V., Visberg, A. (2001). International accounting standard - Agriculture. Proceedings of International scientific conference dedicated to 50th Anniversary of the Estonian Agricultural University, Tartu (Estonia), Available at: https://agris.fao.org/agris-search/search.do?recordID=EE2003000021
Lotfy, M., Abdel Basset, W., & Amin Rasha, M. (2018). Using the fair value method in the assessment of biological assets in order to increase the efficiency aind effectiveness of the finaincial statements. Journal of Environmental Science, 41(2), 425-445.
Mates, D., Grosu, V. (2008). Evaluating and recognising biological assets and agricultural activities according to IAS 41. Lucrări Ştiinţifice, 51(1), 457-462.
Mates, D., Grosu, V., Hlaciuc, E., Bostan, I., Bunget, O., Domil, A., Moraru, M., Artene, A. (2015). Biological assets and the agricultural products in the context of the implementation of the IAS 41: A case study of the Romanian agro-food system. Archives of Biological Sciences, 67(2), 705-714.
Mirovic, V., Milenkovic, N., Jaksic, D., Mijic, K., Andrasic, J., & Kalas, B. (2020). Quality of biological assets disclosures of agricultural companies according to international accounting regulation. Custos e @gronegócio online, 15(4), 43-58.
Penttinen, M., Latukka, A., Meriläinen, H., Salminen O., Uotila, E. (2004). IAS fair value and forest evaluation on farm forestry. Proceedings of Human dimension of family, farm and community forestry international symposium, 67-80.
Savic, B., Obradovic, N. (2020). Izazovi finansijskog izveštavanja o biološkoj imovini. Oditor, 6 (1), 7-21.
Sedláček, J. (2010). The methods of valuation in agricultural accounting. Agricultural Economics, 56 (1), 59-66.
The American Institute of Certified Public Accountants (1996). Audits of Agricultural Producers and Agricultural Co- operatives. New York
Vukmirović, N., Arsenović, D., Lalić, S., Milovanović, D. (2012). Evaluation of accounting acquisition of biological assets and property. Third International Scientific Symposium "Agrosym Jahorina 2012, 723-728.
Yahiya Radhi Saleh, D. (2022). Measurement and disclosure of biological assets in accordance with local bases and international standards. Journal of Positive School Psychology, 6(7), 4892-4901.
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2025/10/14
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