Assessment and accounting of cattle animals in farm accounting within the scope of TMS-41 agricultural activities standard

The rapid population growth in the world and in our country, the phenomenon of intense migration from village to city as a result of industrialization, and the increase in income have led to changes in living standards.The fact that animal products are excluded from people's own production has increased the demand for animal products day by day.With modernity and rapid change, the importance of animal foods for healthy nutrition and, accordingly, animal breeding has become more important. The farm, which is defined as a large piece of land where agriculture is done, animals are raised and there are houses for the employees to live in, can be in a non-commercial structure where activities are carried out for the livelihood of the family; It can also be in a corporate structure that belongs to certain large companies and has its own management and employees.Regardless of the type and scale of the farm, it is of great importance to keep an account so that it can survive and reach profitability.Farm accounting is the systematic measurement and recording of all farm resources and business transactions that have financial consequences. The current accounting principles being used generally do not adequately meet the information needs of agricultural enterprises and farmers, which have a unique structure, and the needs of their stakeholders.Since the accounting transactions related to biological assets could not be carried out in a certain order, they were insufficient in terms of relevance and comparability.Until the International Accounting Standard 41 (Turkish Accounting Standard 41 in Turkey) was introduced, there was no standard for recording, monitoring and valuing biological assets. "TMS 41 Agricultural Activities" Standard was first published in the Official Gazette dated 24/02/2006 and numbered 26090.The purpose of this Standard; To determine the accounting methods and explanations for agricultural activities.With this standard put into force, the accounting standard for agricultural activities has been brought and the financial results of agricultural activities have been brought into a comparable order. In the study, the valuation and accounting of bovine biological assets within the framework of "TMS 41 Agricultural Activities Standard" is discussed in the context of dairy farming.In the study, a practice related to dairy farming was adopted.It has been decided to conduct a case study, since both livestock, herd and feed management and production of milk and dairy products are in question in dairy farming.According to TMS 41 published by Public Oversight Accounting and Auditing Standards Authority, accounting records and financial statements at the beginning of the period, during the period and at the end of the period are explained with special examples.The fact that 90% of milk production in Turkey is made from cow's milk further increases the importance of the study.