Accounting of Living Beings According to TMS 41 and Uniform Accounting System: An Application of Milk Yield Firm

Particularly in the period from 2000s to the present day, agricultural businesses has began to evolve into the modern businesses rather than being family-owned companies. Modernization of the businesses has led the current Uniform Accounting System become inadequate. Therefore, on 31.12.2015, Turkey Accounting Standarts No. 41 Agricultural Activities Standart was introduced in our country to cover the later period. With Turkey Accounting Standarts the changes in accounting systems have occured and the deficiencies of Uniform Accounting System has been tried to resolve. One of these changes was realized in the area of agricultural activities standart. According to Agricultural Activities Standart it is required to trace living being in a seperate group of accounts. Also this standart contains important regulations at the point of applying the fair value for these living being assets in accordance with the core of the standard.In the study, the measurement, evaluation and accounting of living beings in a mik yield firm, which are the subjects of agricultural activities, in Uniform Accounting System and Turkish Accounting Standards are explained through a case study. In this context, also considering the calf production and raw material (feed) production in the livestock enterprises that carried out milk production, the differences between the two accounting systems were presented.


IAS-41, Agricultural Activities, Living Being, Cattle Breeding

Author : Tansel HACIHASANOĞLU - & Ahmet ÜNLÜ
Number of pages: 394-410
Full text:
Journal of Academic Value Studies (JAVStudies)
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