The recognition of biological assets in accordance with agricultural activities (İAS 41) standard: An application on egg sector

Today, opportunities created by inter-firm competition, changes in the tastes and preferences of society, the growth of multinational corporations, the development and economic integration of international financial markets have led businesses to gain international dimension. This situation has also affected poultry and egg businesses that are branches of agriculture. The participation of poultry and egg enterprises in international markets has also brought along the adaptation to internationally accepted accounting standards. For this purpose, Agriculture Activities Standard (IAS-41) has gained importance in terms of the recognition of biological assets. In addition, due to the biological characteristics of living beings, they go through a number of processes such as birth, growth and maturation. Therefore, the recognition of biological assets have to be different from the principles of the recognition of other assets. As for the applications of the recognition of biological assets in Turkey, it is observed that there are differences in practice. Key Words: Agricultural Activity, Biological Assets, Poultry, Egg Business