name
Shcherbina Inna Dmitrievna
Scholastic degree
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Honorary rank
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Organization, job position
• Kuban State Agrarian University
Research interests
международные стандарты финансовой отчетности, управленческий учет, внутренний контроль
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Articles count: 1
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INNOVATION IN ACCOUNTING BIOLOGIC ASSETS
Description
The article describes the innovations in the classification and measurement of biological assets according to IFRS (IAS) 41 "Agriculture". The difficulties faced by agricultural producers using standard, set out in article. The classification based on the adopted amendments, according to which the fruit-bearing plants, previously accounted for as biological assets are measured at fair value are included in the category of fixed assets. The structure of biological assets and main means has been studied in trials. Changes made to the IFRS (IAS) 41 "Agriculture", make similar national and international accounting rules. In this way, the fruit-bearing plants are carried at cost, taking into account accumulated depreciation. This approach is similar in both accounting systems. The method of accounting of fruit-bearing assets, which after maturation are not significant biotransformation in the value, has been simplifying accounting. According to the fruit-bearing assets, active market was absent; therefore, the estimation of fair value for them is not correct. The model of using fruit-bearing assets is similar to the use of industrial equipment. Historical cost is more appropriate and meets economic substance of the objects. Assessment of performance of fruit-bearing assets and indicators of their use is represented on an example of perennial crops
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