Particularities of farm accounting

• Author: Laptes, R.
• Position: Dept. of Economic Sciences and Business Administration, Transilvania University of Brasov
• Pages: 139-144

Bulletin of the Transilvania University of Braşov • Vol. 5 (54) •No. 2 - 2012

Series V: Economic Sciences

PARTICULARITIES OF

FARM ACCOUNTING

Ramona LAPTE訓1

Abstract: Nowadays, agriculture has become one of the most important

fields of activity, significant funds being allotted within the EU budget to

finance the European agriculture. In this context, organising the accounting

of economic entities which carry out their activity in the agricultural sector

has acquired new meanings. The goal of the present study is to bring into the

light the particularities of the farm accounting on two levels: on the one

hand, from the perspective of the international accounting referential and, on

the other hand, in compliance with the national accounting regulations. The

most important conclusion of this work is that, in post-1990 Romania, no

interest was further manifested for the refinement of aspects specific to farm

accounting.

Key words: farm accounting, agriculture, fair value, international,

Romania.

1 Dept. of Economic Sciences and Business Administration, Transilvania University of Braşov.

1. Introduction

The economic and demographic realities

at the end of the 20th century undoubtedly

revealed the fact that the importance of

agriculture must be reconsidered. This

context also witnessed the imposition of

the need to develop an accounting system

specific to the agricultural field, able to

meet the informational requirements of this

field of activity. Contrary to this necessity,

the history of achievements within the

scope of agriculture-related accounting is,

in most countries, insignificant, the

importance of developing an accounting to

suit the specificity of agriculture being

minimised for quite a long time.

In France, no sooner than 1986 did the

National Accounting Council elaborate the

Agricultural General Accounting Chart of

Accounts, given the fact that, until that

time agriculture had been excluded from

among the activity sectors for which

specific norms and accounting rules were

elaborated [1].

We find a different reality in Romania. If

the centralised economy period saw the

implementation of an accounting system

specific to the main branches of the

national economy, agriculture included,

after 1993, subsequent to the reformation

of the Romanian accounting system and

switching to general accounting, the

accounting norms specific to agriculture

and other fields of activity were

abandoned.

At an international level, International

Accounting Standards Board

acknowledged, no sooner than the latter

half of the ‘90s, the necessity to comprise

within the scope of International

Accounting Standards agriculture-related

activities, which was materialised in 2000