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Abstract
Financial statements of agricultural enterprises are an important source of
information for assessing the effects of using resources and consideration of the
effects of the company. Based on the financial statements of agricultural
enterprises, users make important decisions to agriculture, and thus overall
economic activity. In order to make reliable and appropriate decisions it is
necessary to provide quality financial statements that contain complete and
accurate information about position and results of agricultural enterprises. This will
provide information for efficient evaluation of business performance of agricultural
enterprises. Accordingly, this paper provide the results of research the quality of
financial reporting of biological assets in the Republic of Serbia in the period 2008-
2010. In this period there is a growing number of companies that adopted the
requirements of standard, but the quality of financial reporting of biological assets
is not satisfactory. Full disclosure of information accordnig to standard first
appears in 2010. year in only 6.67% of all investigated financial statements.