IAS 41 and beyond for a sustainable EU agriculture

Daniel Buda (), Hoinaru Razvan (), Mocanu Mihaela () and Roman Aureliana-Geta
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Daniel Buda: Babes-Bolyai University, Cluj-Napoca, Romania
Hoinaru Razvan: London, Queen Mary, University of London
Mocanu Mihaela: The Bucharest University of Economic Studies, Bucharest, Romania
Roman Aureliana-Geta: The Bucharest University of Economic Studies, Bucharest, Romania

Proceedings of the International Conference on Business Excellence, 2019, vol. 13, issue 1, 829-839

Abstract: Titles on IAS 41 are not very common in the literature and in this sense there is a limited understanding of the standard and the agri-business, especially when connected with accounting and sustainability. Far too many scholars when taking into consideration natural capital, place too much emphasis on abiotic products (wind, solar, etc) which have a different economic behaviour than the biotic ones (biological assets). The topic of IAS 41 is important, as agriculture is one of the strategic sectors for human living and it needs to be accounted for in careful manner. Our article connects accounting with agriculture, sustainability and non-financial reporting for an integrated perspective. There are certain intrinsic challenges that IAS 41 presents, especially when dealing with FVA, but there are also greater needs for materiality in the sustainable agricultural development in the EU legislation. Authors think that there is place for improvement whiten the standards and the future of EU farming should not leave accounting behind, making a call for a more integrated approach and understanding.

Keywords: IAS 41; agri-business; sustainability; non-financial reporting; financial reporting (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:poicbe:v:13:y:2019:i:1:p:829-839:n:73

DOI: 10.2478/picbe-2019-0073

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