Measurement of revenue in agriculture including the fair value concept
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The paper discusses the problem of measurement of revenue in agriculture. The most significant elements of the International Accounting Standard (IAS) 41 „Agri-culture” are also described. Special attention is paid to agricultural stock meas-urement at fair value. The use of this method of measurement leads to inclusion in revenue of the entire new produce at the point of harvest because inventories are not valued at historical cost but at current market price.
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