Srdjan Lalic

Accounting of Agricultural Holdings in the Vat System Srdjan Lalic

The accounting of our rural households is becoming more and more prevalent and common. In the new system of registration of agricultural households, where the commercial ones have a completely different treatment, this question becomes even more popular. Mission and purpose of accounting of agricultural enterprises is to collect data on the state and behavior of all the elements of the agricultural business system, and that turns them into information. Business events accounted for enterprises engaged in agricultural activities is much more specific compared to classic industrial, service and other companies, which is partly the result of specific agricultural production in general, but also the character of the individual, primarily property position (balance sheet assets) in agricultural companies that require specific accounting treatment. The agricultural sector is a key sector in the economic development of many countries, particularly less developed countries and countries in transition. Accounting information framework in the agricultural sector should be based on the provisions of International Accounting Standard - 41 (Agriculture).