Acta Univ. Agric. Silvic. Mendelianae Brun. 2007, 55, 149-156
Published online 2014-11-19

Harmonisation of agricultural accounting

Jaroslav Sedláček

Katedra financí, Masarykova univerzita, Lipová 41a, 602 00 Brno, Česká republika

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.


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