LUCRĂRI ŞTIINŢIFICE, SERIA I, VOL. XXI (3) 280 SPECIFIC ASPECTS REGARDING THE ACCOUNTANCY OF AGRICULTURAL ACTIVITIES CUC ANA RUXANDRA 1 , NICOARĂ SAMUEL 1 , CUC LAVINIA DENISIA 1* 1 ”Aurel Vlaicu” University of Arad, Faculty of Economics, Romania *Corresponding author’s e-mail: laviniacuc@yahoo.com Abstract: Agriculture is a main branch of economy, more so in Romania which is having a cultivated area of approximately 8.3 million and a vegetable agricultural production of approximately 43.5 billion RON. Thus, this sector owns an important financial flux and bares an important need for a better organization and accounting. The purpose of the article is to visualize the way of organizing accounting in case of economic agencies, which carry out agricultural activities, in the field of vegetable production. This topic is of particular importance in research, from the point of view of the particularities of this economic sector, which shows its action on accounting in order for specialists to implement particular accounting policies and establish the specific framework for the annual financial statements. Key words: agriculture, biological asset, biological product, OMFP 1802/2014, IAS 41 INTRODUCTION Agriculture has been a main and economic branch since Antiquity, period in which the cultivation of the land, the growth of animals and the selling of agricultural products were the way to obtain the necessary resources for daily life. Nowadays, agriculture is practiced at an intensive level, enjoying the advantages of technical and technological development [3]. The new technologies ease physical work, but also involves another level of production costs [5]. The sustainable economic growth presupposes the existence of policies for the agricultural sector aimed to reduce the risk of poverty and material deprivation are reduced [16]. Also, policies regarding pollution and food security must be considered [10]. From the point of view of statistics, according to the National Institute of Statistics, Romania has an arable agricultural area of about 9.4 million hectares of land, of which the cultivated area is about 8.3 million. The crop production represents approximately 43.5 billion RON, and the livestock rise to 24.3 billion RON. Therefore, agricultural activities are an important macroeconomic sector, which entails significant flows and requires good organization and financial records [2]. However, the accountancy specific for these activities was regulated only in the year 2000 with the approval of International Accounting Standard (IAS) 41 Agriculture. European Union Uniunea Europeană introduced the obligation to apply the rules provided by IAS 41 Agriculture for financial reports drawn up by the companies coted at stock market. The accession and integration into the European Union meant a series of legislative changes for Romania, including accounting and fiscal regulations, in order to converge and harmonize with the intra-Community and international law. Beside IAS 41, the accounting for agricultural activities at national level is regulated by OMFP 1802/2014. In this paper we have chosen to discuss the accounting regulations specific to the economic agents which activate in the field of agriculture due to the importance it holds in the global economy. We have considered that the topic has high importance in research in the view of the particularities of this economic sector. The diversity and seasonality of the activities, the leasing and concession of land, the subsidies received from different entities are only some of the aspects specific to the agricultural activity. They also affect the