ISSN : 2663-2187

"Harvesting Insights: A Comprehensive Framework for Agricultural Accounting Practices"

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Dr.S.V.N.M.Sastry, Dr.K.Niranjan, Dr ITIKELA SHYAM SUNDAR, Dr.A.V.N.Murty
ยป doi: 10.48047/AFJBS.6.5.2024. 8769-8776

Abstract

Agricultural accounting plays a pivotal role in the management and sustainability of farming operations. However, the complexity and unique characteristics of agricultural enterprises often pose challenges in implementing effective accounting practices. This research paper proposes a comprehensive framework tailored specifically for agricultural accounting, aimed at addressing the sector's distinct needs and enhancing financial management capabilities. Drawing upon a synthesis of existing literature and expert insights, the framework encompasses various aspects such as cost allocation methods, inventory valuation techniques, revenue recognition principles, and risk management strategies tailored to the agricultural context. Additionally, it explores the integration of technology-driven solutions to streamline accounting processes and improve decision-making. Through case studies and empirical analysis, the efficacy of the proposed framework is demonstrated in enhancing financial transparency, enabling better resource allocation, and fostering long-term sustainability in agricultural operations. This research contributes to bridging the gap in agricultural accounting literature and provides practitioners with practical guidelines for optimizing financial management in the agricultural sector.

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