Received:
2018-03-28 | Accepted:
2018-05-10 | Published:
2018-09-30
Title
Problems and solutions of accounting and evaluation of biological assets in Latvia
Abstract
Activities in the field of agriculture deal with plants and animals constituting biological assets of the sector. From the point of view of accounting and valuation, biological assets is a scarcely investigated topic in Latvia, as well the object of the research only in general terms is reflected in Latvian legislation. That leads to confusion and uncertainty in evaluation and accounting of biological assets in the practical accounting. The subject of the study: evaluation and accounting of biological assets. The aim of the study is to explore and analyse problems of accounting and evaluation of biological assets in Latvia and to propose solutions. One of the research tasks is to explore the current legal base for evaluation and accounting of biological assets provided in the national legislation, to evaluate how it complies with the international accounting standards and to analyse the experience of other countries. The challenging issues of evaluation and accounting of biological assets in Latvia are defined in the research, possible solutions for improving the quality of accounting of biological assets are developed proposing the necessary amendments to the legislation and revisions to the methodological documents. Methods of the research: monographic/descriptive method, document analysis, and graphical analysis.
Keywords
biological assets, evaluation, accounting, agricultural
JEL classifications
M41
URI
http://jssidoi.org/jesi/article/204
DOI
HAL
Pages
10-22
This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License
Journal title
Entrepreneurship and Sustainability Issues
Volume
6
Number
1
Issue date
September 2018
Issue DOI
ISSN
ISSN 2345-0282 (online)
Publisher
VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania
Cited
Article views & downloads
HTML views: 5027 | PDF downloads: 2008
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