The methods of valuation in agricultural accounting

Jaroslav Sedláček
Additional contact information
Jaroslav Sedláček: Faculty of Economics and Administration, Masaryk University, Brno, Czech Republic

Agricultural Economics, 2010, vol. 56, issue 2, 59-66

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.

Keywords: biological assets; agricultural production; recognition of assets; methods of valuation; accounting procedure; fair value; historical cost; impairment; cost model; fair value model (search for similar items in EconPapers)
Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://agricecon.agriculturejournals.cz/doi/10.17221/1487-AGRICECON.html (text/html)
http://agricecon.agriculturejournals.cz/doi/10.17221/1487-AGRICECON.pdf (application/pdf)
free of charge

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:caa:jnlage:v:56:y:2010:i:2:id:1487-agricecon

DOI: 10.17221/1487-AGRICECON

Access Statistics for this article

Agricultural Economics is currently edited by Ing. Zdeňka Náglová, Ph.D.

More articles in Agricultural Economics from Czech Academy of Agricultural Sciences
Bibliographic data for series maintained by Ivo Andrle ().