##plugins.themes.bootstrap3.article.main##

  •   Maria da Conceicao da Costa Marques

Abstract

The entities that operate in the agricultural activity, during the management must make decisions, which depend a lot on the information that is available in the opportune moment. Timely information and reliable accounting records are essential in this process. For the measurement of biological assets at fair value, there must be an active market. The fair value is based on the current location and condition of the asset and will therefore result from its price in the relevant market. There may, however, be advantages and disadvantages in the use of fair value in the measurement of a biological asset, a topic that will develop in this article.

Keywords: Agriculture, biological assets, agricultural product, fair value, decision making, accounting, IPSAS 27, IAS 41

References

Karakelleoğlu, M. I. & Gönen, S. (2017). An Insight on Accounting for Agricultural Transactions: Recent Perception of IAS 41 With Applications. Ecoforum, Volume 6, Issue 1(10), 2017.

Orbán, I., Dékan, T. & Kiss, A. (2015). Measurement of agricultural activities according to the International Financial Reporting Standards. Procedia Economics and Finance 32 (2015) 777–783.

Marques, M. C. (2018). Public Accounting and IPSAS in Portugal: The Accounting Standardization System for Public Administrations. Journal of Modern Accounting and Auditing, April 2018, Vol. 14, No. 4, 153-164 - doi: 10.17265/1548-6583/2018.04.001.

Quivy, Raymond; Champenhoudt, Luc Van, Manual de Investigação em Ciências Sociais, Lisboa, Edições Gradiva, 2005.

Garcia, L.; Quek, F. (1997). Qualitative research in information systems: time to be subjective?, In: Lee, A. S.; Liebenau, J.; Degross, J. I. (ed.) Information systems and qualitative research, London, UK: Chapman & Hall, pp. 444-465.

Godoy, A. S. (1995). Pesquisa qualitativa - tipos fundamentais. Revista de Administração de Empresas, 35(3), 20-29.

Bogdan, R., Biklen, S., (1994). Investigação Qualitativa em Educação – uma introdução à teoria e aos métodos. Porto: Porto Editora.

Adwana, S., Alaa Alhaj-Ismail, A. & Girardonec, C. (2020). Fair value accounting and value relevance of equity book value and net income for European financial firms during the crisis. Journal of International Accounting, Auditing and Taxation, Volume 39, June 2020, 100320, https://doi.org/10.1016/j.intaccaudtax.2020.100320.

Marra, A. (2018). The Pros and Cons of Fair Value Accounting in a Globalized Economy: A Never Ending Debate. Journal of Accounting, Auditing and Finance 31(4):582-591 · October 2016 with 282 Reads. DOI: 10.1177/0148558X16667316.

Comissão de Normalização Contabilística (2015). Norma Contabilística e de Relato Financeiro 17 – Agricultura.

Comissão de Normalização Contabilística (2015). Norma de Contabilidade Pública 11 – Agricultura.

Comissão de Normalização Contabilística (2015). Sistema de Normalização Contabilística para as Administrações Públicas (SNC.AP).

Epstein, B.J., Mirza, A.A. (2003). IAS 2003: Interpretation and Application of International Accounting Standards. Jon Wiley&Sons Inc.

Herborn, K., Herborn, J. (2006). International Accounting Standard (IAS) 41: What Are the Implications for Reporting Forest Assets. Small-scale Forest Economics, Management and Policy, 5 (2).

IAS 41 Agriculture - Recognition and Measurement of Biological Assets and Agricultural Produce in accordance with IAS 41. Retrieved from http://www.ifrs.org/Current-Projects/Project-Archive/IAS-41-Agriculture-Recognition-and-Measurement-of-Biological-Assets-andAgricultural-Produce-in-ac/Pages/IAS-41-Agriculture--Recognition-and-Measurement-of-Biological-Assets-and-AgriculturalProduce-in-ac.aspx. accessed June 2018.

IAS 41 Agriculture Retrieved from http://www.iasplus.com/en/standards/ias/ias41.

IPSASB (2011). IPSAS 27 – Agriculture.

Orbán Mrs. Tamás Dékán, I., (2013). Reporting companies’ performance – in respect of the International Financial Reporting Standards. Applied Studies in Agribusiness and Commerce – APSTRACT. Retrieved from https://ageconsearch.umn.edu/record/187516/files/15_Orban.pdf. Accessed December 2018.

Decreto-Lei nº 192/2015 – aprova o Sistema de Normalização contabilística para as Administrações Públicas (SNC-AP). Available in http://www.cnc.min-financas.pt/pdf/SNC_AP/DL_192_2015_11Set_SNCAP.pdf.

Downloads

Download data is not yet available.

##plugins.themes.bootstrap3.article.details##

How to Cite
Marques, M. da C. da C. (2021). Fair Value as a Measurement Basis: The Case of Agriculture in Portugal. European Journal of Business and Management Research, 6(3), 137-145. https://doi.org/10.24018/ejbmr.2021.6.3.855