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The methods of valuation in agricultural accounting

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  • Jaroslav SEDLÁČEK

    (Faculty of Economics and Administration, Masaryk University, Brno, Czech Republic)

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.

Suggested Citation

  • Jaroslav SEDLÁČEK, 2010. "The methods of valuation in agricultural accounting," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 56(2), pages 59-66.
    • Handle: RePEc:caa:jnlage:v:56:y:2010:i:2:id:1487-agricecon
    DOI: 10.17221/1487-AGRICECON
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    References listed on IDEAS

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    2. Patrik Svoboda & Emil Svoboda, 2007. "Tangible fixed assets of a company pursuant to the czech accounting law and international accounting standards," Acta Universitatis Bohemiae Meridionales, University of South Bohemia in Ceske Budejovice, vol. 10(1), pages 57-65.
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    5. Richard Dietrich, J. & Harris, Mary S. & MullerIII, Karl A., 2000. "The reliability of investment property fair value estimates," Journal of Accounting and Economics, Elsevier, vol. 30(2), pages 125-158, October.
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