The Accounting Treatment of Rice Plant Biological Assets of Micro, Small, and Medium Enterprises (MSMEs) of Rice Farmers Groups

DOI

10.2991/assehr.k.210424.095How to use a DOI?

Keywords

MSMEs of rice farmers groups, rice plant biological assets, accounting treatment, SFAS No. 69

Abstract

This study was to identify the accounting treatment of rice plant biological assets in MSMEs of rice farmers groups. These entities have different characteristics from trading, service, or manufacturing entities due to their biological assets. This study used a qualitative research method with a descriptive approach. The object of this research is the groups of rice farmers in North Sulawesi. The data were collected through interviews also literature and document studies. We analyze the data through three stages, namely data reduction, data presentation, and concluding. The research result shows that the entity has not implemented an accounting system in its financial management. The accounting treatment is based on the Statement of Financial Accounting Standards (SFAS) No. 69, including recognition, measurement, presentation, and disclosure of biological assets. The accounting treatment identification refers to the scope of the business, business activities, and transactions. Rice plants as a biological asset are transformed biologically through rice planting activities. Biological assets of rice plants are recognized as inventories, measured at historical cost, presented as current assets in the financial position statement, and disclosed in a narrative or quantitative description in the notes of financial statements.

Copyright

© 2021, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Hedy Rumambi
AU  - Revleen Kaparang
AU  - Jerry Lintong
AU  - Joseph Tangon
PY  - 2021
DA  - 2021/04/26
TI  - The Accounting Treatment of Rice Plant Biological Assets of Micro, Small, and Medium Enterprises (MSMEs) of Rice Farmers Groups
BT  - Proceedings of the International Conference on Applied Science and Technology on Social Science (ICAST-SS 2020)
PB  - Atlantis Press
SP  - 487
EP  - 492
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.210424.095
DO  - 10.2991/assehr.k.210424.095
ID  - Rumambi2021
ER  -