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Accounting for agriculture and rural business

Published: 19 May 2016 Updated: 12 Apr 2024 Update History

Accounting for agriculture, farming and rural business is a specialist area that requires expertise and an understanding of the industry. On this page you can access a range of articles, books and online resources providing quick links to guidance, surveys, statistics, relevant organisations and news.

We also maintain a range of Business & Industry Guides on agriculture, forestry and fishing and a separate guide to resources for the accounting standard IAS 41: Agriculture.

ICAEW guidance and support

Farming & Rural Business Community
The community provides practical support to chartered accountants within the sector. It offers news updates, key monthly statistics, surveys and technical helpsheets, as well as conferences and seminars.

Bloomsbury Accounting and Tax Service

Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising around 80 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Bloomsbury Accounting and Tax Service.

Terms of use

You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the Acceptable usage terms.

eBooks

The Library provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.

Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

Featured resources

Croner-i Audit and Accounting Sector Guides

Croner-i publishes an Agricultural Sector guide that includes information on the financial management of farming businesses, financial reporting and generally accepted accounting practice and auditing and reporting.

To find out more, please contact the Library enquiry team on +44 (0)20 7920 8620 or at library@icaew.com. Access to this resource is for ICAEW members and students only.

Useful links

Funding for farmers, growers and land managers
Information from the Department for Environment, Food and Rural Affairs (Defra) on the grants and schemes available to farmers with details of how to apply.

Farm stock valuation: HS232 Self Assessment helpsheet
Technical tax helpsheet from HMRC giving guidance on methods of farm stock valuation, livestock, crops, cooperatives, grants and subsidies.

Farm stocktaking valuations
RICS Professional Standard on specific issues that arise in farm stocktaking valuations, for inclusion in financial statements prepared in accordance with UK GAAP.

Julie Butler articles
Julie Butler FCA, a farming and equine tax specialist, writes regularly on tax issues affecting the agricultural sector. 

Landed and rural businesses
Saffery Champness produces regular newsletters on accounting and taxation issues for rural businesses.

Business and profits surveys

Andersons Outlook
Annual publication from farm business consultants The Anderson Centre, which provides an overview of business performance across UK farming and its prospects for the coming year. Subjects covered include farm profitabililty, economic prospects, farm policy, trade issues, land prices and rent, finance and banking and diversification. Analysis of the livestock and cropping sectors is also provided.

Farm Business Survey (FBS)
Annual survey of farms, carried out region-by-region with the intention of providing information for policymakers. The comparative information in the survey can also be used by chartered accountants, farmers and farm advisors to assess the financial performance of individual farms. The availability of results from the FBS varies between regions. The Farm Business Survey website provides region reports, farm benchmarking tools, database for specialist statistics queries, and a projection calculator for gross margins.

Farm Accountancy Data Network (FADN)
Annual survey carried out by the member states of the EU, collated for comparative purposes. The FADN Public Database includes downloadable datasets on EU countries covering costs, balance sheet assets and liabilities, subsidies, and taxes.

Organisations

Agricultural Law Association (ALA)
Organisation founded ‘to provide a forum for professionals serving agriculture - lawyers, surveyors, accountants, bankers, farm business consultants and others, to support each other in their specialisms’.

British Institute of Agricultural Consultants (BIAC)
Body which ‘exists for principals, directors, partners and employees of firms, and for individuals, engaged in the giving of advice in agriculture’. The site includes an online directory of members.

Central Association of Agricultural Valuers (CAAV)
Professional body for agricultural and rural valuers. The site includes a database of members.

Country Land and Business Association (CLA)
Organisation established to support the interests of private landowners and rural businesses.

Institute of Agricultural Management (IAgrM)
Professional body for those involved in the management of farms and associated rural businesses.

Institute of Agricultural Secretaries and Administrators
Professional body representing those involved in rural business administration.

Rural Payments Agency
Executive agency of Defra responsible for the payment of subsidies to the farming and rural community.

Online articles

The library provides access to a range of articles in full text from leading business, finance and management journals. Access to articles is provided to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

Articles and books in the ICAEW Library collection

The collection of the ICAEW Library & Information Service includes a number of articles and books on farming, forestry and agriculture. Use the links below to see some of the titles available to request in our Library catalogue (Libcat).

To find out how you can borrow books from the Library please see our guide to borrowing books.

You can obtain copies of articles or extracts of books and reports through our document supply service.

Can't find what you're looking for?

The ICAEW Library can give you the right information from trustworthy, professional sources that aren't freely available online. Contact us for expert help with your enquiries and research.

Disclaimer

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

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