Accounting of Fishery Products within the Framework of Agricultural Practice Standard: TAS-41

Abstract

In today’s constantly changing and developing market demand conditions, it is necessary for business managers to be more careful in making rational decisions and act in a planned schedule. Rational decisions are only made possible by the presence of real and useful information provided in time. Therefore, as in all enterprises, accounting information system to be formed has special importance for the future of agricultural enterprises. In this study, upon taking the changes made in 2012 and 2014 into account, self-knowledge about the development process, purpose and scope of TAS-41 is presented. The process of accounting for biological assets and agricultural products is explained along with the examples given in the perspective of fisheries. Then, government incentives related to agricultural practices in fishery production enterprises and accounting procedures of those incentives are explained. The main objective of this study is to ensure the uniform accounting of the accounting records related to the basic financial transactions faced by an increasing number of fishery production enterprises within the framework of the TAS-41 with a better understanding of the TAS-41. However, some account names are suggested in the examples given in the study. The fact that these accounts can be included in the new account plan shows that the fisheries enterprises in the agricultural sector can have more meaningful and useful financial information.