Title Miško klasifikavimo problematika ir praktika privačiose Lietuvos miškininkystės įmonėse apskaitos standartų kontekste /
Translation of Title The problems and practice of forest (stands) classification in Lithuanian forestry enterprises in the context of the accounting standards.
Authors Budrionytė, Ramunė
DOI 10.15544/ssaf.2016.03
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Is Part of Apskaitos ir finansų mokslas ir studijos: problemos ir perspektyvos = Science and studies of accounting and finance: problems and perspectives.. Akademija : Aleksandro Stulginskio universitetas. 2016, T. 10, nr. 1, p. 16-24.. ISSN 2029-1175. eISSN 2351-5597
Keywords [eng] accounting standards ; forest (stands) classification in accounting ; private enterprises
Abstract [eng] Forest is the most important resources of any forestry company and the source of its income at the same time. Forest is characterized by specific features, determining the long \"production\" cycle, herewith economic benefit in the distant future. It makes difficult to classify stands within the traditional accounting assets classification, where company's assets are divided into long-term and short-term assets. The aim of the article is to identify the problems of forest classification and regulation according to accounting standards and investigate the forest (stands) classification practices in the private forestry companies of Lithuania for the purpose of improving the forest classification regulation. Investigation of regulation of forest classification in the accounting standards demonstrated the different approach: the stands were classified as biological assets without distinction between long-term and short-term assets according to IFRS, it was classified as long-term assets according to US accounting standards and as biological assets (neither long-term, nor the short-term assets) according to SPSAFR, but there was no clear classification according to the national BAS. The survey of accounting policy of Lithuanian private forestry companies demonstrated different practice of recognition and classification of stands: majority enterprises recognized forest (re)planting costs as assets, but others attributed them to expenditure; 73 percent of investigated companies classified forest (stand) as inventories, but other classified it as fixed long-term assets. The lack of regulation in the fields of forest recognition and classification were identified according to BAS. Forest (stands) is a specific type of assets, which covers long-term and short-term assets attributes, so the offer of the author is to apply a mixed classification scheme where stands can be classified as long-term biological assets, which can be later reclassified to short-term biological assets.
Published Akademija : Aleksandro Stulginskio universitetas
Type Journal article
Language Lithuanian
Publication date 2016