Accounting Treatment of Biological Assets for Agricultural Companies in Jember and Bondowoso

  • Novi Wulandari Widiyanti
  • Bunga Maharani University of Jember
  • Indah Purnamawati
Keywords: Biological Assets, Definition, Disclosure, Measurement, Recognition

Abstract

Application of IAS 41-Agriculture in developed countries contrast with agricultural  entities conditions in developing countries especially for Indonesia. The adoption of IAS 41 makes DSAK-IAI issue PSAK 69 Agriculture intended for agricultural entities so that they can measure and record related biological assets of a company. However, the application of PSAK 69 to agricultural companies also facing problems such as changes in accounting treatment especially for accounting method which are changed form historical value to fair value. The purpose of this study is to provide an overview of accounting treatment of biological asset in Jember plantation companies in state-owned plantation companies in Jember and Bondowoso regencies, namely PTPN 12 and PTPN 11 (PG Pradjekan). The methode used was descriptive qualitative. The researchs showed that differences in biological assets of each company can cause differences in the recording of biological assets. The differences between the two companies are in terms of plant type, plant age and costs incurred in each type of plant. However, in other cases, the accounting treatment of biological assets in PTPN 11 (PG Pradjekan) and PTPN 12 has similarity on recording biological assets at acquisition cost method. This study shows that currently both companies are still  used accounting records with a historical value approach that accumulates all costs incurred from the nursery process until the plants are transformed into yielding crops.

 

References

Badan Pusat Statistik. (2018). Produksi Tanaman Perkebunan menurut Kabupaten/Kota dan Jenis Tanaman di Provinsi Jawa Timur (Ton). Retrieved from https://jatim.bps.go.id/subject/54/perkebunan.html#subjekViewTab4.

Badan Pusat Statistik. (2018). Luas Tanaman Perkebunan menurut Kabupaten/Kota dan Jenis Tanaman di Provinsi Jawa Timur (Ha). Retrieved from https://jatim.bps.go.id/statictable/2017/06/19/569/luas-tanaman-perkebunan-menurut-kabupaten-kota-dan-jenis-tanaman-di-provinsi-jawa-timur-ha-2016-.html.

Farida, I. (2013). Analisis Perlakuan Akuntansi Aset Biologis Berdasarkan International Accounting Standard 41 Pada PT Perkebunan Nusantara VII (Persero). Jurnal Akuntansi UNESA 2(1), 1-24. Universitas Negeri Surabaya. Retrieved from http://jurnalmahasiswa.unesa.ac.id/index.php/jurnal-akuntansi/article/download/6500/3407

Hanafi, M. M., and Halim, A. (2016). Analisis Laporan Keuangan. Yogyakarta: UPP STIM YKPN.

Kieso, D. E., Weygandt, J. J., and Warfield, T. D. (2011). Intermediate Accounting. Volume 1. IFRS Edition. United States of America: Wiley.

Tang, Q., Gao, P., and Fu, G. (2013). Research on Information Disclosure of Biological Asets of Agricultural Listed Company in China. Interdisciplinary Journal of Contemporary Research In Business, 4(11), 12-24. Retrieved from http://journal-archives30.webs.com/mar13.pdf

Wigrha, P. (2018). Analisis Perlakuan Akuntansi Aset Biologis Pada PT. Perkebunan Nusantara XII Ngrangkah Pawon. Thesis. Jember: Universitas Jember.

Published
2018-09-12
How to Cite
Widiyanti, N., Maharani, B., & Purnamawati, I. (2018). Accounting Treatment of Biological Assets for Agricultural Companies in Jember and Bondowoso. International Journal of Finance & Banking Studies (2147-4486), 7(2), 58-65. Retrieved from http://www.ssbfnet.com/ojs/index.php/ijfbs/article/view/12
Section
Articles