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@article{959917,
author = {Sedláček, Jaroslav and Kouřilová, Jindřiška and Pšenčík, Jiří},
article_location = {Praha},
article_number = {1},
keywords = {farm; operating subsidies; investment subsidies; economic growth; accounting practices; financial statements; balance sheet; income statement; yield model; capital model; earnings after taxation; earnings before interest and taxes; income tax},
language = {eng},
issn = {0139-570X},
journal = {Agriculture Economics},
title = {Models of the realistic reporting of subsidies in farm},
volume = {58},
year = {2012}
}
TY - JOUR
ID - 959917
AU - Sedláček, Jaroslav - Kouřilová, Jindřiška - Pšenčík, Jiří
PY - 2012
TI - Models of the realistic reporting of subsidies in farm
JF - Agriculture Economics
VL - 58
IS - 1
SP - 34-40
EP - 34-40
PB - ČAZV
SN - 0139570X
KW - farm
KW - operating subsidies
KW - investment subsidies
KW - economic growth
KW - accounting practices
KW - financial statements
KW - balance sheet
KW - income statement
KW - yield model
KW - capital model
KW - earnings after taxation
KW - earnings before interest and taxes
KW - income tax
N2 - The paper deals with subsidies in the agriculture and their sources from the perspective of their recipients. The review of literature points out the significance of subsidies for the economy of agriculture and also for the evaluation of the financial position and performance of entrepreneurial entities. The current national and supranational approaches to reporting subsidies within farm accounting and financial statements are analyzed. The result of the analysis is an identification of distortions in the reported production power and the value of the company property, caused by the yield method which is based on the matching principle. This is also negatively reflected in the income tax base of the entities. Therefore, for a more real view of the situation in financial statements, two models suitable for reporting subsidies were proposed. These are based on capital approach. The new approaches represent a transparent reporting of subsidies by their recipients in the form of a long-term financial source; they do not allow them to report unearned yields and, on the other hand, they do allow them to report a subsidized property at an unreduced purchase cost. Thus it is possible to compare economic data of particular companies. This also has a positive effect on the burden of subsidy recipients laid by income taxes.
ER -
SEDLÁČEK, Jaroslav, Jindřiška KOUŘILOVÁ a Jiří PŠENČÍK. Models of the realistic reporting of subsidies in farm. \textit{Agriculture Economics}. Praha: ČAZV, roč.~58, č.~1, s.~34-40. ISSN~0139-570X. 2012.
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