Gustavo TANAKA    Department   Kyoto University of Foreign Studies  Department of Global Studies, Faculty of Global Engagement    Position   Professor
Language	English
Publication Date	2023/07
Type	Academic Paper
Peer Review	Peer reviewed
Title	Implementation of IAS 41 (Agriculture): The Case of a Peruvian SME
Contribution Type	Multiple author(s)
Journal	Contabilidad y Negocios (Accounting and Business)
Journal Type	Another Country
Publisher	Editorial Fund of the Pontifical Catholic University of Peru
Volume, Issue, Page	18(35),pp.14-38
Total page number	264
Responsible for	Section 1
Authorship	Lead author
International coauthorship	International coauthorship
Author and coauthor	Gustavo Tanaka - Cielo Castillo
Details	The primary purpose of this paper is to present an actual case of a Peruvian SME which applied IFRS accounting standards – specifically, IAS 41 for consumable biological assets – to reflect its financial situation more accurately as an alternative to legal and tax regulations applying historical cost, which Peruvian SMEs more commonly use for the preparation of financial statements. Primary data were gathered through interviews and observation at the SME studied. This forestry-industry SME in question tried unsuccessfully to get financing from banks, even presenting complementary information regarding the calculation of biological asset values according to IAS 41. Failing this, it turned to seeking funding from private long-term investors, eventually succeeding in obtaining long-term financing from a new strategic investor.