A Study On The Biological Assets Accounting Measurement Model Of S Aquarium

With the constant improvement of market economy system and the rapid development in cultural tourism industrialization,tourism is playing an increasingly important role in the national economy.At present,tourism accounts for about 10% of the GDP in S Province,with an ever-rising influence and status.Transactions involving biological assets,leasing,mortgage,insurance etc.are rapidly growing,and there is a rising demand for the current value of biological assets.At present in China,however,the accounting measurement of biological assets is lack in service-type and profit-oriented industries.Biological assets are important for cultural tourism enterprises,the measurement of which is closely related to the financial problems revealed in many listed enterprises and can greatly influence the enterprise's financial condition and operating results.Besides,biological asset is featured with biological conversion,coupled with considerable uncertainty about its interest inflow under the significant influence of natural conditions.These factors have combined to make it quite difficult to evaluate either its quantity or value and has brought about much operational space for enterprises during evaluation,greatly compromising their accounting quality.It is prescribed in China's regulations that both the fair value model and the historical cost mode can be applied to measure biological assets.These two modes distinguish themselves from each other and have their own advantages but also disadvantages.A proper biological asset measurement mode is of great significance to improving the standards and the quality of enterprise accounting.This paper introduces the requirement of biological asset standard abroad in concept definition,applicable range,confirming condition,measurement mode and information disclosure,makes a detailed comparison between foreign and domestic standards,and summarizes the reasons contributing to the frequent financial problems in enterprises' biological assets based on the characteristics of biological assets.On the basis of research results at home and abroad,this paper first introduces the classification and characteristics of the biological assets of the Ocean Museum of S Province,analyzes its initial measurement,follow-up measurement,depreciation and treatment in the current historical cost mode,and points out the existing problems including the untrue reflection of the assets,unproportioned income and costs,improper classification,and poor comparability and relevance in accounting information.Following this,this paper further elaborates on the necessity and feasibility of the fair value measurement model in Ocean Museum in S Province.Comparison of the productive and consumptive biological assets in the two different measurement models further reveals the influence of measurement model on accounts results.Finally,an improvement based on a hybrid-measurement method in the biological asset measurement model is proposed,and the reasons,applications and improvement are illustrated.