Artigo em revista científica Q2
Fair value: model proposal for the dairy sector
Jonas Oliveira (Oliveira, J.); Graça Maria do Carmo Azevedo (Azevedo, G.); Cláudia da Silva Amaral Santos (Santos, C.); Sandra Cristina Santos Vasconcelos (Vasconcelos, S.);
Título Revista
Agricultural Finance Review
Ano
2015
Língua
Inglês
País
Reino Unido
Mais Informação
Web of Science®

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(Última verificação: 2019-09-17 19:56)

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Scopus

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(Última verificação: 2019-09-18 20:30)

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Abstract/Resumo
The purpose of this paper is twofold. First, it intends to assess the level of comparability of the fair value-based valuation criteria for biological assets of Portuguese dairy farms after the adoption of the Portuguese Accounting Standardization System. Second, it presents an innovative valuation model to assess the fair value of dairy herds. The paper conducts a multiple case study at dairy farms in the central region of Portugal which had adopted the new Accounting Standardization System. Data were captured through interviews to assess how dairy farms were using the new valuation criteria required by this recent accounting frame of reference. A proposal for a model to measure fair value is presented. Main findings indicate that market values for dairy production animals are inconsistent, reducing financial information comparability levels. To solve these problems, the authors propose a new model to assess fair value based on the net present value (NPV) of future cash-flows. This is a possible method to measure bovines that are in a breeding stage and it will assure the comparability of financial statements among dairy farms. The study is confined to one case study and one country, not allowing generalization. Results indicate the need to harmonize one possible method for measuring cattle that are in a breeding stage. In order to overcome these shortcomings, a model was designed to calculate the fair value of dairy production based on the NPV of future economic benefits.
Agradecimentos/Acknowledgements
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Palavras-chave
Regulation, Financial reporting, Fair value, Biological assets, Dairy sector
  • Outras Ciências Agrárias - Ciências da Agricultura
  • Economia e Gestão - Ciências Sociais

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