Implementation of PSAK 241: Recognition, Measurement, and Disclosure of Biological Assets at PT. DSN

Abstract

Agricultural activities produce biological assets consisting of non-bearing plants, bearing plants, and harvested produce in the form of Tandan Buah Segar (TBS), which hold material value in the financial statements of plantation companies. This research aims to analyze the appropriateness of the recognition, measurement, and disclosure of biological assets at PT. DSN East Kalimantan based on Pernyataan Standar Akuntansi Keuangan (PSAK) 241. The research method used is a qualitative method with a descriptive-comparative approach. The research data consisted of secondary data obtained from the financial statements and notes to the financial statements of PT. DSN. The company’s accounting practices were systematically compared with the predetermined requirements of PSAK 241 through descriptive-comparative document analysis. The results of the research indicate that the recognition of biological assets at PT. DSN is in accordance with PSAK 241, whereby biological assets are recognized when the company has control over the assets, there are future economic benefits, and the value of the assets can be measured reliably. Regarding measurement, PT. DSN applies the historical cost method, which is permitted under PSAK 241 when the fair value of biological assets cannot be reliably measured. Furthermore, regarding disclosure, PT. DSN has disclosed the types of biological assets it holds, the classifications of Tanaman Belum Menghasilkan (TBM) and Tanaman Menghasilkan (TM), as well as the measurement basis used in the financial statements.