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Calculation of Biological Assets Fair Value and Their Transformations Results


  • Ludmyla Khoruzhiy

    () (Russian State Agrarian University – MTAA named after K.A.Timiryazev)


In the article the IAS 41 'Agriculture' (fair value of biological assets and agricultural products) terminology has been considered within the Russian theory and practice of accounting. A multifactor model of assets and liabilities fair value calculation has been proposed. It has been found that the application of fair value to measure biological assets and agricultural produce may be a burdensome due to the requirement of fair value calculation at each balance sheet date. In addition, some regions may be lack of active biological assets markets. In such cases, the fair value cannot be determined with sufficient accuracy. Thus, the author proposes the algorithm of determining the fair value of biological assets and agricultural produce on which the calculation of fair value for each biological assets and agricultural produce can be made.

Suggested Citation

  • Ludmyla Khoruzhiy, 2013. "Calculation of Biological Assets Fair Value and Their Transformations Results," Accounting and Finance, Institute of Accounting and Finance, issue 1, pages 56-60, March.
  • Handle: RePEc:iaf:journl:y:2013:i:1:p:56-60

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    More about this item


    fair value and biological assets; agricultural produce; biotransformation; valuation; accounting;

    JEL classification:

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


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