Tinjauan Rencana Adopsi IAS 41 pada Perusahaan Agrikultur di Bursa Efek Indonesia
DOI:
https://doi.org/10.21512/bbr.v4i1.1411Keywords:
IAS 41, agriculture, fair value, biological assets, agriculture produceAbstract
The purpose of this study is to analyze the adoption plan of IAS 41 Agriculture as a part of IFRS Convergence in Indonesia by investigating the characteristics of biological assets and agriculture produce in public listed companies in Bursa Efek Indonesia (BEI). The methodology used in this study is qualitative approach by investigating financial statements of agricultural public listed companies for the year 2011. Thestudy shows that the biological assets recorded in the public listed companies range from consumable biological assets and bearer biological assets. It also shows that many bearer biological assets need more than one reporting period to be ready to produce other biological assets or agriculture produce to be harvest. According to IAS 41, these biological assets should be recorded using fair value model, however this model will not be appropriate. This findings lead to another questions what is the valuation appropriate for biological assets which have different characteristics.
Plum Analytics
References
Argiles, J., & Slof, E. (2001). New Opportunities for Farm Accounting. The European Accounting Review , 10 (2), 361-383.
Argiles, J., Bladon, J., & Monllau, T. (2009). Fair Value versus Historic cost valuation for biological assets: Implications for the quality of financial information. Retrieved february 2013, from Social Science Research Network: www.ssrn.com
Ariyanto, Y.H. (2011, April). Social Science Research Network. Retrieved februari 2012, from www.ssrn.com
Ball, R. (2006). International Financial Reporting Standards (IFRS): Pros and Cons for Investors. Accounting and Business Research , 5-27.
Barlev, B., & Haddad, J. (2003). Fair value accounting and management of the firm. Critical Perspectives on Accounting , 14 (4), 383-415.
Benston, G. (2008). The shortcomings of fair-value accounting described in SFAS 157. Journal of Accounting and Public Policy , 27 (2), 101-114.
Bhakir, M.I.T. (2010). Applying IAS 41 in Malaysia. Accountant Today , 32-33.
Choi, F., & Meek, G. (2005). International Accounting. 5th edition. Prentice Hall.
Dowling, C., & Godfrey, J. (2001). AASB 1037 sows the seeds of change: A survey of SGARA measurement methods. Australian Accounting Review , 11 (1), 45-51.
Elad, C. (2004). Fair value accounting in the agricultural sector: Some implications for international accounting harmonisation. European Accounting Review , 13 (4), 621-641.
Eland, C., & Herbohn, K. (2011). Implementing Fair Value in the Agricultural Sector. SATER .
Fargher, N. (2001). Management perceptions of fair-value accounting for all financial instruments. Australian Accounting Review , 11 (2), 62-72.
Herbohn, K. (2006). Accounting for SGARA: A stocktake of accounting practice befor compliance with AASB 141 Agriculture. Australian Accounting Review , 16 (2), 62-76.
Herbohn, K. (2005). International Accounting Standards: How adequately are forest assets reported in the balance sheet and income statements. IUFRO World Conference. Brisbane, Australia.
Herbohn, K.; Herbohn, J. (2006). International Accounting Standards (IAS) 41: What are the implications for reporting forest assets. Small-scale Forest Economics, Management and Policy , 5 (2), 175-189.
IASB. (2001). Framework for the Preparation and Presentation of Financial Statements. International Accounting Standards Board .
IASC. (2001). International Accounting Standard 41: Agriculture. International Accounting Standards Committee .
Jensen, R.E. (2007). Fair Value Accounting in the USA. In P. Walton, The Routledge Companion to Fair Value and Financial Reporting (p. 21). Routledge.
Johnson, T. L. (2005, February). Relevance and Reliability. The FASB Report .
Lam, N., & Lau, P. (2009). Intermediate Financial Reporting. Singapore: McGraw Hill.
Laux, C., & Leuz, C. (2009). The crisis of fair-value accounting: Making sense of the recent debate. Accounting, Organisations and Society , 34 (6-7), 826-834.
Peavy, D., & Webster, S. (1990). Is GAAP the Gap to International Market? Management Accounting , 72, 31-35.
Penman, S. H. (2007). Financial reporting quality: is fair value a plus or a minus? Accounting and Business Research (Special issue: International Accounting Policy Forum), 33-44.
Perera, M. (1989a). Accounting in Developing Countries: A Case for Localized Uniformity. British Accounting Review , 21 (2), 141-148.
Ryan, S. G. (2008). Fair Value Accounting: Understanding the issue raised by the credit crunch. Council of Institutional Investors. New York.
Saudagaran, S. (2001). International Accounting: A User Perspective. . South Western College Publishing.
Zeghal, D., & Mhedhbi, K. (2006). An analysis of Factors Affecting the Adoption of International Accounting Standards by Developing Countries. International Journal of Accounting , 41 (4), 373-386.
Downloads
Published
Issue
Section
License
Authors who publish with this journal agree to the following terms:
a. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License - Share Alike that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
b. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
c. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
USER RIGHTS
All articles published Open Access will be immediately and permanently free for everyone to read and download. We are continuously working with our author communities to select the best choice of license options, currently being defined for this journal as follows: Creative Commons Attribution-Share Alike (CC BY-SA)