Harmonizing the Valuation Standards of the EEU Agricultiral Companies
Tatiana Victorovna Morozova1, Ravil Gabdullaevich Akhmadeev2, Olga Alekseevna Bykanova3, Natalia Vasilievna Philippova4
1Tatiana Victorovna Morozova, Plekhanov Russian University of Economics, Stremyanny lane, 36, Moscow, 117997, Russian Federation.
2Ravil Gabdullaevich Akhmadeev, Plekhanov Russian University of Economics, Stremyanny lane, 36, Moscow, 117997, Russian Federation.
3Olga Alekseevna Bykanova, Plekhanov Russian University of Economics, Stremyanny lane, 36, Moscow, 117997, Russian Federation.
4Natalia Vasilievna Philippova, Plekhanov Russian University of Economics, Stremyanny lane, 36, Moscow, 117997, Russian Federation.
Manuscript received on 16 April 2019 | Revised Manuscript received on 21 May 2019 | Manuscript published on 30 May 2019 | PP: 2167-2177 | Volume-8 Issue-1, May 2019 | Retrieval Number: A1942058119 /19©BEIESP
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: One of the goals of the Eurasian Economic Union creation was to strengthen the national economies and boost the opportunities of the member countries on international markets by introducing the rule of “four freedoms” – of the movement of goods, services, finances and the workforce. However, the most pressing issues in the formation and development of the valuation business in the countries are the absence of developed markets, of modern digital information infrastructure, a smoothly working operational system of statistics accumulation and as a consequence, market indicators. The goal of our research is to offer recommendations on how to harmonize valuation standards for EEU agricultural companies’ assets based on the current valuation standards taking into account international experience of developed countries and looking into the future of their further improvement. Our research into the current EEU valuation standards by criteria allowed us to assess the current standards with a large degree of certainty and reveal the negative influence factors. For better effect, we have suggested an algorithm of a unified valuation standard, which combines the best practices of the EEU states and the international professional community. The suggested concept of unified standards of asset valuation is not exhaustive, it can be augmented depending on the special features of agricultural companies.
Index Terms: Agricultural Companies, Valuation Activities, IFRS, Industry Standards, Standardization, Emerging Countries’ Economies.
Scope of the Article: Social Sciences