Accounting Process for Government Grants in Hazelnut Production within the Framework of International Accounting Standards: Turkey Sample
Journal Title: International Journal of Academic Research in Accounting, Finance and Management Sciences - Year 2016, Vol 6, Issue 3
Abstract
The subject of the study is the accounting of government grants for agricultural activities according to International Accounting Standards (IAS). In this context, IAS examines the government grants for agriculture under two standards. These standards are “IAS 41 Agriculture” and “IAS 20 Accounting for Government Grants and Disclosure of Government Assistance”. If a government grant related to a biological asset measured at its fair value less costs to sell to be recognized in profit or loss IAS 41 is applied but if a government grant relates to a biological asset measured at its cost less any accumulated depreciation and any accumulated impairment losses, IAS 20 is applied. The aim of this study is explaining the way for the accounting of government grants like “field-based income support” and "agricultural production support" for multi-stemmed shrubs (hazelnut trees) which are considered as a bearer plant. With this aim case study method was used and the subject of the study was illustrated by examining journal entries of government grants for hazelnut orchards of one of the leading companies in hazelnut industry in Turkey. Also, a diagram was developed for business which makes easier to decide to choice standard for accounting of any government grants for agriculture.
Authors and Affiliations
Hakan Yazarkan
Keywords
Related Articles
- EP ID EP107005
- DOI 10.6007/IJARAFMS/v6-i3/2151
- Views 123
- Downloads 0
Comprehensive View of the Factors Associated with Knowledge Sharing and Organizational Innovation
Knowledge sharing and Innovation important topics at this century because all organizations lead employee to create new ideas also, transfer knowledge to increase performance interaction. This research paper examine the...
The Relations among Dimensions of Service Quality, Satisfaction, Loyalty, and Willingness to pay more: Case of GSM Operators Service at Northern-Iraq
The objective of this research is to determine the factors of service quality that affect the satisfaction, loyalty, and willingness to pay more for this service of the customers. In this concept, researchers conducted a...
Monetary Policy Tools and Inflation in Kenya
Inflation is an critical aspect of every economy and presents a balancing act to most governments through regulatory framework. Inflation can break or break the economy of a nation. Hence policy makers in the government...
Examining the Effects of Services Quality Gap Based on the Customer Loyalty and Satisfaction through SERVQUAL Method (Saadat Poya Teb Company as a Case Study)
Intrinsic and Extrinsic Motivation as Attitude Factors towards Adoption of Accounting Information System (AIS) In Libyan SMEs