COMPARATIVE STUDY ON THE RECOGNITION AND EVALUATION OF BIOLOGICAL ASSETS ACCORDING TO NATIONAL REGULATIONS AND IAS 41 AGRICULTURE

ARON Maria Petronela, The West University of Timisoara

MATES Dorel, The West University of Timisoara

Abstract:
Within the European Union as well as internationally, there is an ongoing concern for the harmonization of accounting systems in order to create a unitary accounting procedure that should ensure the flow of financial relations between all states. This process involves a lot of stages according to the requirements imposed by the economic and social development of the different states, groups of countries as well as internationally. The entry of Romania into the European Union requires them to know and understand very well the accounting standards in order to align them to the specific of the Romanian economy. This study refers to the legal provisions regarding the implementation of IAS 41 Agriculture, in particular to the recognition and evaluation of biological assets owned by entities in the field of agriculture. We will follow the degree of harmonization of the national accounting regulations with IAS 41 Agriculture as well as the possible discrepancies between them.

Keywords: IAS 41 Agriculture, Directives, Biological Assets, National Regulations, Accounting

JEL Classification: M41

Volume: 73, Issue: 2

Pages: 8 - 18

Publication date: May, 2021

DOI: 10.56043/reveco-2021-0011

Download the article: http://economice.ulbsibiu.ro/revista.economica/archive/73201aron&mates.pdf

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