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| Author: | Argiles, J. M. Slof, E. J. |
| Title: | New opportunities for farm accounting |
| Journal: | European Accounting Review
2001 : VOL. 10:2, p. 361-384 |
| Index terms: | ACCOUNTING FARMS ANALYTICAL REVIEW |
| Language: | eng |
| Abstract: | This paper starts out to observe that there is a gap between the importance given to accounting and the low level of bookkeeping and accounting practice in the agricultural sector. Reasons for this gap are that current general accounting rules do not adapt very well to the particularities of farming and are difficult and expensive to implement. The authors then suggest that the Farm Accountancy Data Network (FADN) and the recently issued International Accounting Standard on Agriculture (IAS 41) could be key elements to improve the use of accounting in European farms. The authors review the main contributions of IAS 41 and conclude that it provides a strong conceptual framework but might need further instruments for its implementation in practice, given the limitations of the agricultural sector. |
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