Accounting of Garden Plants Production Activities in Agricultural Enterprises According to IAS 41

Abstract

Agriculture has always held its value an important sector for providing nutrition and accommodation for people and input for other sectors as well as creating employment and financial value in the market. Accounting practises in agriculture has gained importance over the past years because of the increasing number of the commercial business in agriculture sector. Agricultural activities consist of livestock and farm products. The Agricultural Activities Standard (TAS 41), which regulates the transactions occurring in agricultural activities, adopts a fair valuation approach for the valuation of biological assets and agricultural products. In the prepared study, the study was conducted with the case study method in the qualitative research method branch from the scientific research method. The agricultural enterprise subject to the research continues its greenhouse activities in the province of Van. The transactions made from the planting of the tomatoes produced in the greenhouse to the harvesting and during the sales are made in accordance with the framework of IAS 41. The accounting records made in the study were made in accordance with the new account draft in accordance with the Financial Reporting Standards prepared by the Public Oversight Accounting and Auditing Standards Authority (KGK) in September 2018.