Abstract:

The fact that living assets have exchange capacity, them make different than other assets is separate. The existing uniform chart of accounts doesn’t include specific accounts for the transactions in compliance with the international accounting standards in the companies engaged in the purchase and sale of live assets. In accordance with this purpose, the draft of the new account plan prepared by Public Oversight Accounting And Auditing Standards Authority POA provides special accounts for these enterprises that produce and commerce agricultural products and provides an accounting system in accordance with TAS 41 in these enterprises. Before the final version of the new chart of accounts is prepared, POA wants to receive opinions from the relevant persons and institutions for the development of the chart of accounts. The study wants to contribute to this process. For this purpose, it provides examples of the new chart of accounts and the implementation of accounting records in accordance with TAS 41 in businesses trading live assets.

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