Valuation of Biological Assets at Fair Value
Today the globalisation of the world market leads to the necessity of constructive interaction in the international market and forming common standards of accounting. Transnational corporations as a phenomenon of worldwide integration are businesses with units in different countries of the world. Sp...
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| Format: | Article |
| Language: | Russian |
| Published: |
Government of the Russian Federation, Financial University
2019-12-01
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| Series: | Мир новой экономики |
| Subjects: | |
| Online Access: | https://wne.fa.ru/jour/article/view/221 |
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| _version_ | 1849343562241540096 |
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| author | A. O. Beryoza |
| author_facet | A. O. Beryoza |
| author_sort | A. O. Beryoza |
| collection | DOAJ |
| description | Today the globalisation of the world market leads to the necessity of constructive interaction in the international market and forming common standards of accounting. Transnational corporations as a phenomenon of worldwide integration are businesses with units in different countries of the world. Special issues of information support of management in agricultural organisations have become very important in the conditions of the market economy. Clear and transparent accounting in such enterprises requires the existence of common international standards. Such standards could become International Financial Reporting Standards (IFRS). They are designed to provide an understanding of financial processes in different countries for the interaction between investors and potential investment projects located in different national accounting systems. The standard “Agriculture” has great importance for the Russian Federation. Agriculture is one of the leading sectors of our country, supplying products for both domestic and foreign market. Accordingly, the adoption of this standard and the implementation of its provisions is an important and urgent issue of today’s economic reality. Introduction of this standard leads to the formation of fundamentally new methodological bases of the accounting of agricultural activities based on the market value of assets because paragraphs 12–13 of this Standard states that during the initial and subsequent valuation of biological assets will be measured at their fair value fewer costs to selling. Thus, the need to allocate biological assets in the separate account-economic category, their reflection in the accounting at fair value by the provisions of IAS 41 has determined the relevance of the topic, goal, objectives and logic of the article. |
| format | Article |
| id | doaj-art-0c05c2dee47c42d88512ad2beb88a6b4 |
| institution | Kabale University |
| issn | 2220-6469 2220-7872 |
| language | Russian |
| publishDate | 2019-12-01 |
| publisher | Government of the Russian Federation, Financial University |
| record_format | Article |
| series | Мир новой экономики |
| spelling | doaj-art-0c05c2dee47c42d88512ad2beb88a6b42025-08-20T03:42:56ZrusGovernment of the Russian Federation, Financial UniversityМир новой экономики2220-64692220-78722019-12-01133597010.26794/2220-6469-2019-13-3-59-70211Valuation of Biological Assets at Fair ValueA. O. Beryoza0Lomonosov Moscow State UniversityToday the globalisation of the world market leads to the necessity of constructive interaction in the international market and forming common standards of accounting. Transnational corporations as a phenomenon of worldwide integration are businesses with units in different countries of the world. Special issues of information support of management in agricultural organisations have become very important in the conditions of the market economy. Clear and transparent accounting in such enterprises requires the existence of common international standards. Such standards could become International Financial Reporting Standards (IFRS). They are designed to provide an understanding of financial processes in different countries for the interaction between investors and potential investment projects located in different national accounting systems. The standard “Agriculture” has great importance for the Russian Federation. Agriculture is one of the leading sectors of our country, supplying products for both domestic and foreign market. Accordingly, the adoption of this standard and the implementation of its provisions is an important and urgent issue of today’s economic reality. Introduction of this standard leads to the formation of fundamentally new methodological bases of the accounting of agricultural activities based on the market value of assets because paragraphs 12–13 of this Standard states that during the initial and subsequent valuation of biological assets will be measured at their fair value fewer costs to selling. Thus, the need to allocate biological assets in the separate account-economic category, their reflection in the accounting at fair value by the provisions of IAS 41 has determined the relevance of the topic, goal, objectives and logic of the article.https://wne.fa.ru/jour/article/view/221accountinginternational standardsfair valuebiological assets |
| spellingShingle | A. O. Beryoza Valuation of Biological Assets at Fair Value Мир новой экономики accounting international standards fair value biological assets |
| title | Valuation of Biological Assets at Fair Value |
| title_full | Valuation of Biological Assets at Fair Value |
| title_fullStr | Valuation of Biological Assets at Fair Value |
| title_full_unstemmed | Valuation of Biological Assets at Fair Value |
| title_short | Valuation of Biological Assets at Fair Value |
| title_sort | valuation of biological assets at fair value |
| topic | accounting international standards fair value biological assets |
| url | https://wne.fa.ru/jour/article/view/221 |
| work_keys_str_mv | AT aoberyoza valuationofbiologicalassetsatfairvalue |