RT Journal Article
SR Electronic
A1 Sedláček, Jaroslav
T1 Harmonisation of agricultural accounting
JF Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis
YR 2014
VO 55
IS 6
SP 149
OP 156
DO 10.11118/actaun200755060149
UL https://acta.mendelu.cz/artkey/acu-200706-0016.php
AB This paper deals with the accounting of the biological assets. There are described two approaches: Czech and international. The International Accounting Standards are emulative of more authentic presentment of economic processes in agricultural activities than Czech accounting legislation. From the comparison the both approaches accrued some differences, which can influent the financial statements of enterprises. The causation of main difference appears an application of fair value, which is prescribed for biological assets in international accounting standards. In international accounting standards is preferred principle of fair and true view, while in Czech accounting is preferred prudence principle.