Specifics of the Reporting under International Accounting Standard IAS 41 Agriculture and its Usage on the Central European Stock Exchanges
| Autoři | |
|---|---|
| Rok publikování | 2018 |
| Druh | Článek ve sborníku |
| Konference | Proceedings of the 15th International Scientific Conference European Financial Systems 2018 |
| Fakulta / Pracoviště MU | |
| Citace | |
| Klíčová slova | agriculture company; biological assets; financial reporting; IAS/IFRS; stock exchange |
| Popis | Companies listed on stock exchanges in the European Union prepare and present their financial reports mostly in accordance with International Financial Reporting Standards (IAS/IFRS). International Accounting Standard IAS 41 Agriculture, prescribing the accounting treatment and disclosures related to biological assets used for agricultural activity, is an integral part of these standards. The need of the particular standard for agriculture stands from the specific character of agricultural activity based on the biological transformation of living organisms – plants and animal beings. This paper deals with the specific areas of the accounting treatment incorporated in the International Accounting Standard IAS 41. Furthermore, it examines whether there are agriculture companies reporting in accordance with IAS 41 among corporations publicly listed on the stock exchanges in the Czech Republic, in Slovakia, Poland, Hungary and Austria. Results show that only small number of agriculture companies is listed on the Central European stock exchanges. Therefore, there is the low usage of IAS 41. Although IAS 41 might seem redundant, it has its importance consisting in the specific accounting treatment that cannot by substitute by other standards. |
| Související projekty: |