Calculation of product costs? and accounting under TAS 41 of fish breeding enterprises

Agricultural sector has always maintained its importance based on the facts of providing food to human bodies, inputs to other sectors, creation of value added and employment. Agricultural production is subdivided in itself into vegetative production, animal production, mariculture and forestry products industry.Mariculture gains importance within agricultural production in Turkey surrounded on three sides by the sea and possessing many watercourses and lakes. Fish is the first item to remember when mariculture is considered. Major part of mariculture is obtained by fishing in Turkey. However culture fishing activities and the number of fish breeding enterprises are in continuous rise during the recent years.Main purpose of this study is the calculation of product costs and cost accounting within TAS 41 framework of fish breeding enterprises. We have therefore touched on the integration of the fish, a living creature, in assets within the frame of TMS 41[Turkish Accounting Standard 41] and Turkish Tax Legislation, its evaluation, depreciation, profit and loss account, government incentives and matters to be disclosed and presented to public. We have than explained cost accounting systematic providing product cost calculation in fish breeding enterprises and shown the product cost calculation process and accounting records on a presumptive example.Fish breeding enterprises are basically divided into two. The first type is breeding fish fry after having eggs from brood fish and treating them in several phases in hatchery. The other type is receiving fish fry and breeding them in pools or cages. There are also enterprises who integrate these two types of breeding activity. Enterprises which breed in hatcheries create the scope of our study. Other fish breeding enterprises are outside of the study scope.The new and recent development of culture fishing activities in aquaculture sector, the small number of hatcheries, irregular recording habit of these small number of enterprises and their abstinence to share required date with someone out of the corporate body even if records are kept on a regular basis are constraints of the study. In this regard, the study?s application part has been done by development of an example.It is concluded through the study that Uniform Chart of Accounts and the Turkish Tax Legislation are insufficient for fish breeding enterprises to calculate the production costs which is disregarded by them and TAS 41 is considered to be an important development for businesses to detect the production costs correctly whereby the efficient cost accounting system. Furthermore it is agreed on the requirement for the separation of semi finished and finished products also a private accounting period in the context of periodicity.