Accounting Practices and International Accounting Standard (IAS)/Philippine Accounting Standard (PAS) 41 Compliance of Cattle Farms: Evidence from the Philippines

Miranda, Hanna D.; Mojica, Loida E.; Madamba, Jeanette Angeline B.; Zapata, Normito R.

doi:10.20294/jgbt.2017.13.1.55

Cited by 2 publications

(3 citation statements)

References 0 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The result is consistent with the findings of the study of Miranda et al (2017) that dairy farms recorded their purchased cattle using landed cost if it is imported. Site 2 records biological assets in their financial statements, as practiced, based on fair market value, cost, and book value.…”

Section: Dataanalysisanddiscussionsupporting

confidence: 91%

“…Also, the study of Kakalta (2014) has proven that there was low compliance of the agricultural companies from the piggery, poultry, and other livestock sectors, but the level of compliance of the banana and coconut sectors was high. Furthermore, the results of the study of Miranda, Mojica, Madamba, and Zapata (2017) have shown that cattle farmers in the Philippines were not aware of the provisions of IAS 41, including preparation and presentation of financial statements. Because of that, there was a low level of compliance with IAS 41.…”

Section: Theoreticalframeworkmentioning

confidence: 99%

See 1 more Smart Citation

The Extent of Compliancewith International Accountingstandard (IAS) 41: The Case of SelectedAgri-tourismSites in Bohol, Philippines

Virador¹

2019

IJAT

View full text Add to dashboard Cite

International Accounting Standard (IAS) 41 sets out the accounting provisions on the recognition, measurement, and required disclosures of biological assets (living plants and animals) in the financial statements. Adhering to the said standard makes the businesses' financial statements fairly stated. Thus, this study aimed to determine the extent of compliance with IAS 41 of the selected agri-tourism sites in Bohol. The study used a descriptive research design. Primary data was obtained using a researcher-made survey questionnaire and through personal interview. Three agri-tourism sites participated in the study. The accountant or equivalent was interviewed for each site. Findings revealed that the compliance level of selected agri-tourism sites in Bohol with IAS 41 is high in terms of recognition of gains and losses in the financial statements; low in the recognition of biological assets in the financial statements, and disclosure requirements; and non-compliant in the measurement of biological assets, and recognition of government grants in the financial statements. The reason for not complying is that they are not knowledgeable and not aware of the standard. It is recommended that the respondents will attend training and workshops on how to apply IAS 41 to improve the level of compliance with the provisions of IAS 41.

show abstract

Section: Dataanalysisanddiscussionsupporting

confidence: 91%

Section: Theoreticalframeworkmentioning

confidence: 99%

The Extent of Compliancewith International Accountingstandard (IAS) 41: The Case of SelectedAgri-tourismSites in Bohol, Philippines

Virador¹

2019

IJAT

View full text Add to dashboard Cite

show abstract

“…Globalization has led the Accounting system to become "Global". Trade between countries, or the entry of foreign companies into various countries, makes governance of business standards must be in one standard (Azudin, & Mansor, 2018;Miranda, et al, 2017;Sellami, & Gafsi, 2019). This standard is not just a standard of trade, shipping, payment, but also a standard in terms of records (Ward, & Lowe, 2017;Gumb et al, 2018;Wiersema, & León, 2016).…”

Section: Introductionmentioning

confidence: 99%

Business and accounting standards that only support the capitalist interest: Critical thinking with institutional theory

Ikbal¹,

Paminto²,

Irwansyah³

et al. 2020

J Pub val Ad Ins

View full text Add to dashboard Cite

The interests of investors have become the attention and purpose of regulators of business regulation, especially accounting regulations. Through the development of IFRS-based accounting standards, accounting regulators place the results of capital market-based studies as the main reference in developing accounting standards in the World. This study tries to uncover the other side of IFRS that is changing the world and directing its goals towards achieving the goals of investors. Using an institutional theory approach, this study places a critical mind on how an organization will be contaminated with external factors. There is an institutional environmental pressure that causes institutionalization. Institutional theory encourages the institutionalization of an organization under external pressure, which is an idea that will form a symbol and eventually become the norm of truth in the organization as a common goal.

show abstract

Accounting Practices and International Accounting Standard (IAS)/Philippine Accounting Standard (PAS) 41 Compliance of Cattle Farms: Evidence from the Philippines

Cited by 2 publications

References 0 publications

The Extent of Compliancewith International Accountingstandard (IAS) 41: The Case of SelectedAgri-tourismSites in Bohol, Philippines

The Extent of Compliancewith International Accountingstandard (IAS) 41: The Case of SelectedAgri-tourismSites in Bohol, Philippines

Business and accounting standards that only support the capitalist interest: Critical thinking with institutional theory

Contact Info

Product

Resources

About