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Bearer Plants: Stakeholders’ View on the Appropriate Measurement Model

Author

Listed:
  • Maria Ionela Damian
  • Sorana Mihaela Manoiu
  • Carmen Giorgiana Bonaci

    (Babes-Bolyai University, Romania)

  • Jiri Strouhal

    (University of Economics, Czech Republic)

Abstract

While the importance of agriculture to the global economy seems to be generally acknowledged, financial reporting in the agricultural sector still generates intense debates. Our paper contributes to the debate on fair value measurement of biological assets by focusing on the proposed amendments to IAS 16 and IAS 41 (through the Exposure Draft Agriculture: Bearer Plants – International Accounting Standards Board (IASB) (2013)). The IASB is faced with analyzing whether applying IAS 16 would lead to more decision-useful financial reporting information on bearer biological assets compared to the current requirements in IAS 41. It therefore becomes interesting, at this stage, to analyze the feedback received by the IASB (through the stakeholders’ comment letters involved in its due process) to the recently published Exposure Draft. After discussing the proposed amendments and putting them into context, we develop a quantitative and qualitative analysis of the point of view of stakeholders responding to IASB’s call for comment letters. The implications of IASB’s forthcoming decision in relation to the proposed amendments, as well as stakeholders’ involvement, should be considered in the light of International Financial Reporting Standards’ (IFRS) widespread around the world.

Suggested Citation

  • Maria Ionela Damian & Sorana Mihaela Manoiu & Carmen Giorgiana Bonaci & Jiri Strouhal, 2014. "Bearer Plants: Stakeholders’ View on the Appropriate Measurement Model," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 13(4), pages 719-738, December.
    • Handle: RePEc:ami:journl:v:13:y:2014:i:4:p:719-738
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    Citations

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    Cited by:

    1. Daniel Buda & Hoinaru Razvan & Mocanu Mihaela & Roman Aureliana-Geta, 2019. "IAS 41 and beyond for a sustainable EU agriculture," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 13(1), pages 829-839, May.
    2. Hana BOHUSOVA & Patrik SVOBODA, 2017. "Will the amendments to the IAS 16 and IAS 41 influence the value of biological assets?," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 63(2), pages 53-64.
    3. Patrik Svoboda & Hana Bohušová, 2017. "Amendments to IAS 16 and IAS 41: Are There Any Differences between Plant and Animal from a Financial Reporting Point of View?," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 65(1), pages 327-337.

    More about this item

    Keywords

    Bearer plants; agriculture; biological assets; fair value; historical cost; comment letters;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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