Accounting Recognition in Native Forest Operations: The Agrocortex Case
DOI:
https://doi.org/10.11606/issn.1982-6486.rco.2019.162327Keywords:
Biological assets, Accounting recognition, Accounting theory, Native forest, Sustainable forest managementAbstract
The aim of this paper was to analyze and propose a solution for accounting recognition of native forest operations based on the Agrocortex case. Agrocortex operates a native forest in the Amazon region and its operation is outside the scope of accounting standards and its financial statements have been prepared without recognition of native forests. In view of this, a solution proposal was built, based on IAS 8 - Accounting Policies, Changes in Accounting Estimates and Errors, with two aspects: (1) elaboration of an accounting policy to proceed with the accounting recognition of operations in native forests of similar to planted forests, in accordance with IAS 41, with fair value measurement; and (2) elaboration of an accounting recognition for native forest operations through sustainable forest management in the financial statements. The second aspect is a suggestion to the regulators and entities of the accounting class, to analyze, based on the case shown, the theoretical aspects of accounting recognition in native forest operations, through sustainable forest management.
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