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The achievability of sustainable reporting practices in agriculture

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  • Belinda R. Williams
  • Trevor Wilmshurst

Abstract

This research investigates the process of change in moving from a domestic accounting standard, AASB 1037, relating to self‐generating and regenerating assets (SGARAs) to an international standard, AASB 141. It focuses on the achievement (or nonachievement as it may be) of sustainable reporting practices for these agricultural assets. This paper finds that the transition to AASB 141 has allowed firms the discretion to change how they value their agricultural assets in comparison to the domestic standard. Consistency may have been achieved to a limited extent with the introduction of this financial accounting standard but comparability appears not to have been. Further, there is very limited understanding of the reporting of these assets from a user's perspective. It is concluded that this lack of consistency, comparability and understandability will not help achieve sustainability in the reporting practices of agricultural assets. Copyright © 2009 John Wiley & Sons, Ltd and ERP Environment.

Suggested Citation

  • Belinda R. Williams & Trevor Wilmshurst, 2009. "The achievability of sustainable reporting practices in agriculture," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 16(3), pages 155-166, May.
    • Handle: RePEc:wly:corsem:v:16:y:2009:i:3:p:155-166
    DOI: 10.1002/csr.190
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    References listed on IDEAS

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    1. Brian Booth & R. G. Walker, 2003. "Valuation of SGARAs IN THE Wine Industry: Time for Sober Reflection," Australian Accounting Review, CPA Australia, vol. 13(31), pages 52-60, November.
    2. Kathleen Herbohn, 2006. "Accounting for SGARAs: A Stocktake of Accounting Practice Before Compliance With AASB 141 Agriculture," Australian Accounting Review, CPA Australia, vol. 16(39), pages 62-76, July.
    3. K.F Herbohn & J.L Herbohn, 1999. "Accounting for Forests in Social, Economic and Political Contexts," Accounting Forum, Taylor & Francis Journals, vol. 23(4), pages 408-440, December.
    4. Kathleen F. Herbohn & Ronald Peterson & John L. Herbohn, 1998. "Accounting for Forestry Assets: Current Practice and future Directions," Australian Accounting Review, CPA Australia, vol. 8(15), pages 54-66, May.
    5. Carlin Dowling & Professor.Jayne Godfrey, 2001. "AASB 1037 Sows the Seeds of Change: A Survey of SGARA Measurement Methods," Australian Accounting Review, CPA Australia, vol. 11(23), pages 45-51, March.
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