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What will the Implementation of IFRS for SME bring for Agricultural Enterprises?
[Co by pro zemědělské podniky znamenala implementace IFRS pro SME?]

Author

Listed:
  • Hana Bohušová

    (Mendel University in Brno)

  • Patrik Svoboda

    (Mendel University in Brno)

Abstract

The specific nature of agricultural activity compared to other business activities undertaken for profit requires different methodological approaches for its recoginition, measurement, recording and reporting. Since most farms in the EU are SMEs and standardization of financial reporting for these businesses in the form of the IFRS for SMEs has not yet been approved by the European Commission, special financial reporting of methodological approaches has not been applied in the agricultural sector yet. This contribution deals with the potential impact of implementation of IFRS for SMEs in agricultural activities and proposes possible methodological procedures for accounting solutions that are in accordance with the IFRS for SMEs, including indicators for evaluation of the impact of the financial analysis that are affected by the choice of methodological approach.

Suggested Citation

  • Hana Bohušová & Patrik Svoboda, 2013. "What will the Implementation of IFRS for SME bring for Agricultural Enterprises? [Co by pro zemědělské podniky znamenala implementace IFRS pro SME?]," Acta Universitatis Bohemiae Meridionalis, University of South Bohemia in Ceske Budejovice, Faculty of Economics, vol. 16(1), pages 89-100.
    • Handle: RePEc:boh:actaub:v:16:y:2013:i:1:p:89-100
    DOI: 10.32725/acta.2013.009
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    References listed on IDEAS

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    1. Kathleen Herbohn, 2006. "Accounting for SGARAs: A Stocktake of Accounting Practice Before Compliance With AASB 141 Agriculture," Australian Accounting Review, CPA Australia, vol. 16(39), pages 62-76, July.
    2. Christopher Nobes, 2006. "The survival of international differences under IFRS: towards a research agenda," Accounting and Business Research, Taylor & Francis Journals, vol. 36(3), pages 233-245.
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    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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