Name
Zatonskaya Irina Viktorovna
Scholastic degree
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Academic rank
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Honorary rank
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Organization, job position
Kuban State Agrarian University
Web site url
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Articles count: 2
The instruments of increasing competitive stability and
decreasing financial risk of the company in the
conditions of an economic crisis are considered in this
article. The process of production in agriculture is
closely related to the natural biological processes.
Animals and plants function as means of production,
and they are living organisms, developing on the
biological laws that determine the dependence of the
production process in the agricultural sector on natural
factors. Besides, various soil climatic conditions have
impact on results of economic activity of agricultural
producers. Therefore, companies that work in rather
worse natural zones are less competitive. The price
factor doesn't provide financial well-being and doesn't
reduce risk of bankrupt to such organizations. The
economic situation in the country, emergence of new
financial instruments and some other factors has
essential impact on results of economic activity of an
agrarian enterprise. Thus, the activity of the company
in all its forms is connected with numerous risks, thus,
financial risks play an essential role, generally, "a
portfolio of risks". In this regard, an actual task in
practice of an agrarian enterprise is the assessment of
level of financial risk on the basis of accounting
reports: the balance sheet records the financial
situations of the organization at reporting date, and the
report profits and losses results of financial activity.
The system of internal control in various directions is
necessary for risk management: acquisition of raw
materials and materials, product sales, logistics,
personals, finance and capital investments. A
possibility of an agrarian company to estimate, to
control and to operate its own risks is important
competitive advantage, allowing to create financial and
steady structure of the organization
The article presents aspects of the efficiency of the
international financial reporting standards (IFRS) in
the accounting practice of agricultural enterprises by
basic organizational components, defines stages of the
application of certain IFRS elements in the preparation
of reporting of the agricultural sector enterprises.
First of all, agricultural enterprises will face problems
of the transition to IFRS. This is associated with
peculiarities of the agricultural production, which are
determined by the natural and social factors and affect
the organization of accounting: agricultural production
is seasonal, this is why the production cycle doesn’t
coincide with the calendar year; the land is the basic
means of production, animals and plants act as a
specific means of production; timescales of plant
ripening and animal breeding determine the obtainment
of the end product. Analysis of the difficulties of the
agricultural organizations’ transition to IFRS showed
different views in the scientific and professional
community regarding the valuation of assets and
liabilities and biological assets accounting.
Choice of experts responsible for the preparation of
reporting according to IFRS is an important issue that
requires additional expenses for hiring highly qualified
specialists or the creation of a special department,
which is fully agreeable to international standards.
Success of the reporting preparation according to IFRS
requires the process optimization with the usage of
modern information technologies. Introduction of IFRS
to the accounting practices of agricultural enterprises
implies changes of the national regulatory framework
of accounting, reporting and taxation