RECOGNITION OF THE OLIVE GROWING UNDER THE TURKISH ACCOUNTING STANDARDS

In countries with a Mediterranean climate of cultivating suitable crops, it finds a large production areas in Turkey. For the olive production to reach the level of seedlings, eight years must pass. After eight years, the trees reach fertile ages and can give fruit for many years (40 - 50 years). Olive production for businesses that there are arrangements in Turkey Accounting Standards. Related to agricultural activities, Turkey Accounting Standard (TAS) 41 Agricultural Activities” are standard. Olive tree and olive fruit were included in TMS 41 Agricultural Activities standard until 2014, while carrier plants were included in TMS 16 Tangible Assets standard with the amendment made in 2014. In this study, an annual life cycle of the olive tree and olive fruit is explained and the accounting for the related period is included