Problems and solutions of accounting and evaluation of biological assets in Latvia

Iluta Arbidane and Iveta Mietule
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Iluta Arbidane: Rezekne Academy of Technologies
Iveta Mietule: Rezekne Academy of Technologies

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Abstract: Activities in the field of agriculture deal with plants and animals constituting biological assets of the sector. From the point of view of accounting and valuation, biological assets is a scarcely investigated topic in Latvia, as well the object of the research only in general terms is reflected in Latvian legislation. That leads to confusion and uncertainty in evaluation and accounting of biological assets in the practical accounting. The subject of the study: evaluation and accounting of biological assets. The aim of the study is to explore and analyse problems of accounting and evaluation of biological assets in Latvia and to propose solutions. One of the research tasks is to explore the current legal base for evaluation and accounting of biological assets provided in the national legislation, to evaluate how it complies with the international accounting standards and to analyse the experience of other countries. The challenging issues of evaluation and accounting of biological assets in Latvia are defined in the research, possible solutions for improving the quality of accounting of biological assets are developed proposing the necessary amendments to the legislation and revisions to the methodological documents. Methods of the research: monographic/descriptive method, document analysis, and graphical analysis.

Keywords: biological assets; evaluation; accounting; agricultural (search for similar items in EconPapers)
Date: 2018-09-30
New Economics Papers: this item is included in nep-acc, nep-cis and nep-tra
Note: View the original document on HAL open archive server: https://hal.science/hal-01947873
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Citations: View citations in EconPapers (2)

Published in Entrepreneurship and Sustainability Issues, 2018, 6 (1), pp.10-22. ⟨10.9770/jesi.2018.6.1(1)⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01947873

DOI: 10.9770/jesi.2018.6.1(1)

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