Theoretical considerations about implementation of IAS 41 in Romania
Although agriculture is an important part of the world economy, accounting in agriculture still has many shortcomings. The adoption of IAS 41 „Agricuture” has tried to improve this situation and increase the comparability of financial statements of entities in the agricultural sector. Although contr...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
General Association of Economists from Romania
2012-02-01
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| Series: | Theoretical and Applied Economics |
| Subjects: | |
| Online Access: |
http://store.ectap.ro/articole/686.pdf
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| _version_ | 1831837728603373568 |
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| author | Liliana FELEAGĂ Niculae FELEAGĂ Vasile RĂILEANU |
| author_facet | Liliana FELEAGĂ Niculae FELEAGĂ Vasile RĂILEANU |
| author_sort | Liliana FELEAGĂ |
| collection | DOAJ |
| description | Although agriculture is an important part of the world
economy, accounting in agriculture still has many shortcomings. The
adoption of IAS 41 „Agricuture” has tried to improve this situation and
increase the comparability of financial statements of entities in the
agricultural sector. Although controversial, IAS 41 is the first step of a
consistent transition to fair value assessment in the agricultural sector.
The objective of our work is the analysis of IAS 41 and current
accounting agricultural situation in Romania. Accounting regulations in
Romania are in accordance with European directives and, in many
respects, converged with IFRS referential. Provisions of IAS 41, however,
are not reflected directly in Romanian regulations. With the increase of
forest land transactions and foreign investments in animal farms, it is
expected that recognition and measurement of biological assets under
IAS 41 to become a necessity. |
| first_indexed | 2024-12-23T05:20:44Z |
| format | Article |
| id | doaj.art-c076402d61ce4891b95844451799f6b5 |
| institution | Directory Open Access Journal |
| issn | 1841-8678 1844-0029 |
| language | English |
| last_indexed | 2024-12-23T05:20:44Z |
| publishDate | 2012-02-01 |
| publisher | General Association of Economists from Romania |
| record_format | Article |
| series | Theoretical and Applied Economics |
| spelling | doaj.art-c076402d61ce4891b95844451799f6b52022-12-21T17:58:43ZengGeneral Association of Economists from RomaniaTheoretical and Applied Economics1841-86781844-00292012-02-01XIX2313818418678Theoretical considerations about implementation of IAS 41 in RomaniaLiliana FELEAGĂ0Niculae FELEAGĂ1Vasile RĂILEANU2 Bucharest Academy of Economic Studies Bucharest Academy of Economic Studies Bucharest Academy of Economic Studies Although agriculture is an important part of the world economy, accounting in agriculture still has many shortcomings. The adoption of IAS 41 „Agricuture” has tried to improve this situation and increase the comparability of financial statements of entities in the agricultural sector. Although controversial, IAS 41 is the first step of a consistent transition to fair value assessment in the agricultural sector. The objective of our work is the analysis of IAS 41 and current accounting agricultural situation in Romania. Accounting regulations in Romania are in accordance with European directives and, in many respects, converged with IFRS referential. Provisions of IAS 41, however, are not reflected directly in Romanian regulations. With the increase of forest land transactions and foreign investments in animal farms, it is expected that recognition and measurement of biological assets under IAS 41 to become a necessity. http://store.ectap.ro/articole/686.pdf agricultural accountingbiological assetsfair valueIAS 41Romania |
| spellingShingle | Liliana FELEAGĂ Niculae FELEAGĂ Vasile RĂILEANU Theoretical considerations about implementation of IAS 41 in Romania Theoretical and Applied Economics agricultural accounting biological assets fair value IAS 41 Romania |
| title | Theoretical considerations about implementation of IAS 41 in Romania |
| title_full | Theoretical considerations about implementation of IAS 41 in Romania |
| title_fullStr | Theoretical considerations about implementation of IAS 41 in Romania |
| title_full_unstemmed | Theoretical considerations about implementation of IAS 41 in Romania |
| title_short | Theoretical considerations about implementation of IAS 41 in Romania |
| title_sort | theoretical considerations about implementation of ias 41 in romania |
| topic | agricultural accounting biological assets fair value IAS 41 Romania |
| url |
http://store.ectap.ro/articole/686.pdf
|
| work_keys_str_mv | AT lilianafeleaga theoreticalconsiderationsaboutimplementationofias41inromania AT niculaefeleaga theoreticalconsiderationsaboutimplementationofias41inromania AT vasileraileanu theoreticalconsiderationsaboutimplementationofias41inromania |