RATIO ANALYSIS SPECIFICS OF THE FAMILY DAIRIES FINANCIAL STATEMENTS
DOI:
https://doi.org/10.5937/ekoPolj1504061MKeywords:
fnancial analysis, fnancial ratio, family dairy, management, financial performance.Abstract
The subject of this paper is the evaluation of the fnancial analysis specifcs of the dairy enterprises with a focus on the implementation of the ratio analysis of financial statements. The ratio analysis is a central part of fnancial analysis, since it is based on investigating the relationship between logically related items in the fnancial statements to assess the fnancial position of the observed enterprise and its earning capacity. Speaking about the reporting of fnancial performance in family dairies, the basis is created for displaying techniques of fnancial analysis, with a special indication on the specifcs of their application in agricultural enterprises focusing on companies engaged in dairying. Applied in the paper is ratio analysis on the example of a dairy enterprise, i.e. a family dairy operating in Serbia. The ratio indicators are the basis for identifying relationships based on which by comparing the actual performance and certain business standards differences or variations are identifed.
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References
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2. Argilés J. M., Slof E. J. (2001): New opportunities for farm accounting, European Accounting Review, Vol. 10, No. 2, pp. 361-383.
3. Barnard, F., Akridge,J., Dooley, F., Foltz, J. (2012): Agribusiness Management, Routledge, Taylor & Francis Group, London and New York. (ISBN 978-0-415- 59695-4).
4. Chelmu, S. S. (2012): Competitiveness of agricultural products on the meat-dairy chain. Economics of Agriculture, Vol. 59, No. SI-1, pp. 29-37.
5. Drašković, B., Rajković, Z., Kostić, D. (2010): Milk production in Serbia and position small farmers. Economics of Agriculture, Vol. 57, No. 4, pp. 529-541.
6. European Commission. Agriculture and Rural Development. Farm Accountancy Data Network (FADN). (available at: http://ec.europa.eu/agriculture/fadn/index_en.htm)
7. European Commission Directorate-general for agriculture and rural development. (February 2014): EU Dairy farms report 2013. European Union, Brussels. (available at: http://ec.europa.eu/agriculture/ricaprod/pdf/Dairy_Farms_report_2013_WEB.pdf)
8. Family dairy Veličković. (available at: http://www.mlekaravelickovic.rs/general.php?id=2)
9. Garcia, P., Sonka, S. T., Mazzacco, M. A. (1983): A Multivariate Logit Analysis of Farmers Use of Financial Information, American Journal of Agricultural Economics, Vol. 65, No. 1, pp.136-141.
10. Geman, H. (2015): Agricultural fnance : from crops to land, water and infrastructure. John Wiley & Sons Ltd, The Atrium, Southern Gate, Chichester, West Sussex, PO19 8SQ, United Kingdom. (ISBN 978-1-118-82738-3).
11. Knežević S., Fabris M. (2010): Upravljanje obrtnim sredstvima i kratkoročnim obavezama, Računovodstvo, Savez računovođa i revizora Srbije, Beograd, No. 11- 12, pp. 61-73.
12. Kumar, A. (1985): Standards for comparison under Ratio Analysis,The Management Reporter, Tribhuvan University, Nepal. Vol. 2, No. 2.
13. Malinić D., Milićević V., Stevanović N. (2012): Upravljačko računovodstvo, Ekonomski fakultet, Beograd. (ISBN 978-86-403-1203-5).
14. McElwee, G. (2005): Developing entrepreneurial skills of farmers, SSPECT-2005-006500, D2: A Literature review of entrepreneurship in agriculture. (available at: http://www.esofarmers.org/fleadmin/esofarmers/documents/ESoFliteraturereview_000.pdf)
15. Milošević, V. (1997): Teorija troškova: troškovi preduzeća, Prosveta, Niš. (ISBN 86-7455-302-8).
16. Pyysiäinen, J., Anderson, A., McElwee, G., Vesala, K. (2006): Developing the entrepreneurial skills of farmers: some myths explored, International Journal of Entrepreneurial Behavior & Research, Vol. 12, No. 1, pp. 21-39.
17. Savić, B., Vasiljević, Z., Đorđević, D. (2014): Strategic cost management as instrument for improving competitiveness of agribusiness complex, Economics of Agriculture, Vol. 61, No. 4, pp. 1005-1020.
18. Statistical Offce of the Republic of Serbia. (2015): The Statistical Pocketbook of the Republic of Serbia 2015, Belgrade. (available at: http://webrzs.stat.gov.rs/WebSite/repository/documents/00/01/71/83/Statisticki_kalendar_Republike_Srbije_2015.pdf)
19. Vasile, A. J., Dorel, D., Mihai, M. (2015): The influences of the cultural models on agricultural production structures in Romania and some EU-28 countries – a perspective. Economics of Agriculture, Vol. 62, No. 2, pp. 293-307.
20. Vehapi, S., Šabotić, Z. (2015): The state and problems of Serbian agriculture. Economics of Agriculture, Vol. 62, No. 1, pp. 245-257.
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Published
2015-12-31
How to Cite
Mitrović, A., Knežević, S., & Veličković, M. (2015). RATIO ANALYSIS SPECIFICS OF THE FAMILY DAIRIES FINANCIAL STATEMENTS. Ekonomika Poljoprivrede, 62(4), 1061–1078. https://doi.org/10.5937/ekoPolj1504061M
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