Biological assets: Impact of way of measurement applied on reported Profit or Loss of SMEs

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F16%3A43910900" target="_blank" >RIV/62156489:43110/16:43910900 - isvavai.cz</a>

Result on the web

<a href="http://www.kimba.ku.ac.th/icabr2016/fullpapers/icabr2016.pdf" target="_blank" >http://www.kimba.ku.ac.th/icabr2016/fullpapers/icabr2016.pdf</a>

DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Biological assets: Impact of way of measurement applied on reported Profit or Loss of SMEs

Original language description

Agricultural activity differs from other activities carried out by business units to achieve the profit. The specifics of biological character of transformation should be also reflected by the methodology for measurement and reporting of the agricultural enterprises' activities. There is the International Accounting Standard (IAS) 41 Agriculture for publicly traded companies reporting and the section 34 Specialized Activities in International Financial Reporting Standard for Small and medium entities (IFRS for SMEs). According to IFRS for SMEs, the entity uses the fair value model for those biological assets for which fair value is readily determinable, and cost model is employed for all other biological assets. The section concerning the biological assets accounting is very brief and ambiguous. The aim of the research is the evaluation of possible ways of individual kinds of biological assets measurement for reporting and the setting of the price for goods and services sold between controlled or related legal entities within an enterprise purposes. The research is aimed at small and medium enterprises (SMEs), the goal is to be in accord with the true and fair view principle, to eliminate ambiguity, and to be in accord with the basic principles of IFRS for SME (simplicity, cost of reporting reduction with respect to special features of biological assets - the substance of all kinds of biological assets differs significantly, especially bearer plants and living animals).

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

AE - Management, administration and clerical work

OECD FORD branch

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Project

<a href="/en/project/GA15-24867S" target="_blank" >GA15-24867S: Small and medium size enterprises in global competition: Development of specific transfer pricing methodology reflecting their specificities</a><br>

Continuities

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year

2016

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

Proceedings from XI. International Conference on Applied Business Research ICABR 2016

ISBN

978-616-278-346-3

ISSN

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e-ISSN

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Number of pages

10

Pages from-to

16-25

Publisher name

Kasetsart University

Place of publication

Bangkok

Event location

Chonburi

Event date

Sep 5, 2016

Type of event by nationality

WRD - Celosvětová akce

UT code for WoS article

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