Aplicación de la NIC 41 para el reconocimiento y valoración de los activos biológicos en los estados financieros de la empresa Agrorganica S.A.

Abstract

The entities that operate in the agricultural sector, during the management must make decisions, which depend a lot on the information available at the right time. Timely information and reliable accounting records are essential to ensure successful decision making. In Ecuador, entities that operate in the agricultural area may apply, depending on the sector in which they operate and its size, the international accounting standards IAS 41 that indicates the procedure for the valuation of biological assets, in which the fair value is the amount for which an asset can be exchanged or a liability settled between interested and knowledgeable parties in a transaction in which there is no relationship between them. Therefore, it is important for agricultural companies to know the value of their biological assets for correct decision-making, in addition to complying with the tax laws to which Ecuadorian companies are subject. The general objective of the investigation is to apply IAS 41 for the recognition and valuation of biological assets in the financial statements of the company AGRORGANICA SA, in the Machala canton, El Oro province. The approach used in the investigation is the mixed one through qualitative and quantitative analysis, in addition the study is descriptive, non-experimental design. The result obtained was the revaluation of the biological asset with an economic gain according to the interests of the organization.