Accounting Scope in Agriculture in India

 Agriculture Sector Future In India

: Need for This Article:

From past few months I am studying accounting work of Agriculture companies. A few notable things are showing in this regard.

This is completely my own opinion and nothing else to be mentioned.
My knowledge about agriculture is pretty low and certainly not advisable to get any idea from me. However, our countries 65% Population is solely dependent on agriculture and countries 100% population get effected by everything that change agriculture sectors mood.

From politics to number of students applied for a grade C sarkari exam agriculture sector effect everything. Thus, these are my people and I have right to talk about them.

: Quite Scary situation:

I am not pointing out any government like BJP or NCP or I.N.D.I.A. Every government at some point help farmers in some way and hurt them in many ways thus it's pointless to find the right leader for farmer's so just let farmers decide what's best for them not a less knowledgeable person like me.

However, a strong disagreement found in my own statement I made just in paragraph above. Agriculture is not seen as business in my country like other businesses in India. Like other businesses agriculture also have product life cycle which Banking sector also recognize and provide 6 Monthly AGRICULTURE EMI loan for farming to machines like tractor.

However, farmers do not recognize agriculture as business. People in rural areas does not find degree like Bachelor of commerce or master's in business administration useful except few cases. Banks does not provide unsecured loans to farmers. Internet of things is not a thing practically for agriculture. Ohh Lord Krishna what to do of these people.

: A business without Invoices nor Receipts nor Documents, nor Accounting?

Tell me one business which does not regularly use any accounting software, which does not issue invoices for its sale, it does need accountants but never keep one.

Yes, you are right its Agriculture.

I do not know why my fellow Indians never appoint a good accountant for their Agriculture business. Ok I am asking work for my accountant brothers and sisters but what's wrong in that.

Every business needs an accountant who can work for the owner such that the owner can focus on his work rather than task he does not have to do.

Every business should assess what's his real profit according to standard rules defined in accounting spectrum.

There is actually a separate accounting standard mentioned in Ind As and IFRS that's 41: Accounting standard for agriculture.