Abstract

MARRUFO, Rubén  and  CANO, Abel. Accounting treatments of biological assets and agricultural products. Vis. futuro [online]. 2021, vol.25, n.2. ISSN 1668-8708.  http://dx.doi.org/https://doi.org/10.36995/j.visiondefuturo.2021.25.02R.002.es.

It should be mentioned that this work that is presented, as a result of research, corresponds to the management and accounting treatment that can be given to Biological Assets in Latin American companies in the agricultural sector, and its purpose is to demonstrate the influence that exists between the importance given to low financial accounting (IAS / IFRS) and poor reciprocity in accounting management and accounting practices that are effectively applied in the agricultural sector, especially in SMEs, thus causing some cracks. However, it can be stated that the reasons for the possible fissures that may exist are attributed to the fact that the current general accounting standards do not adapt very well to the particularities of the agriculture sector and are relatively difficult, and costly to implement. In the Latin American case, it should be mentioned that International Accounting Standard 41. (IAS 41), when they are full and section 34 for SMEs, prescribe the accounting treatment of agricultural activity, introducing significant advances in the recognition of results. for the transformation of biological goods generated in the joint effort of human beings and nature.

Keywords : Biological Assets; Agricultural Products; Colombian Farms; Accounting Standards.