Published Online:October 2025
Product Name:The IUP Journal of Accounting Research & Audit Practices
Product Type:Article
Product Code:IJARAP111025
DOI:10.71329/IUPJARAP/2025.24.4.215-238
Author Name:Asha Sharma and Aditya Mishra
Availability:YES
Subject/Domain:Finance
Download Format:PDF
Pages:215-238
The international accounting standards IAS 41 outline the accounting treatment, presentation of the financial statement, and disclosure requirements of agricultural activity. This paper evaluates the impact of high-technology innovations on farm accounting for long-term, sustainable growth. It also quantifies the moderate effects of dynamic environments on the relationship between sustainable growth and farm accounting. Random sampling and a questionnaire were used to collect data. 232 responses from farmers, smallholders, vendors and entrepreneurs in the agro-business sector of Rajasthan were received during January to June 2023. Smart PLS-Structural Equation Modeling (SEM) approach was used to analyze the data. The study finds that sustainable growth in the agricultural industry can be achieved through accounting innovations, especially those found in IAS 41. The study findings offer a robust framework for informed decision-making and policy formulation to support sustainable agricultural development.
Agricultural activity-related accounting treatment, presentation of the financial statement, and disclosures are regulated by the International Accounting Standards (IAS 41). Agricultural activity involves managing the biological transformation of living plants or animals, harvesting them for sale, converting them into agricultural produce, or creating new biological assets. The primary objective is to ensure that agricultural groups provide accurate and relevant information to users of the financial statement.