Paper Accepted: 18.03.2020.
Original scientific paper
Biological assets represent a characteristic item of an entity’s fixed assets in the agricultural sector. Its accounting coverage is followed by numerous challenges, primarily due to the need to measure the fair value to which it refers IAS 41 – Agriculture, but also because biological assets may be very heterogeneous in terms of race, life cycle stage, health status, productivity and more. To review and eveluate financial reporting on biological assets in the Republic of Serbia, we conducted a review of the financial statements of domiciled entities in the field of agriculture and agribusiness. Research results point to several limitations when it comes to financial reporting on biological assets, which significantly impair the reliability of the presented financial assets information.
Keywords: biological assets, valuation, fair value, IFRS, financial reporting.
 The paper is an integral part of the research for project III-46001 funded by the Ministry of Education, Science and Technological Development of the Republic of Serbia.
 Assistant Professor, Bojan Savić, PhD, University of Belgrade, Faculty of Agriculture, Nemanjina 6, Zemun, Serbia, E-mail: email@example.com
 Assistant Professor, Nataša Obradović, M.A., University of Belgrade, Faculty of Agriculture, Nemanjina 6, Zemun, Serbia, Email: firstname.lastname@example.org