Food security is a global topic of discussion and agricultural sectors play a vital role in the provision thereof. In South Africa the agribusinesses are some of the key players in providing financing, risk management and market advisory services to producers. Since the deregulation of the grain industry during 1996, many of these agribusinesses have converted their business form from cooperative to company and therefore adhere to International Financial Reporting Standards (IFRS). These agribusinesses trade commodity derivatives on the South African Futures Exchange (SAFEX) to hedge themselves and their producers against commodity price risk. Globally there has been a tremendous increase in the use of derivatives and other financial instruments and with the emergence of these new and more complex financial instruments, accounting regulations had to follow these developments. The applicable accounting practices at the time were considered as being insufficient and being applied inconsistently. The major global standard setters namely IASB and FASB separately tried to develop adequate standards to address the accounting treatment of these products. The IASB developed International Accounting Standard (IAS) 39 dealing with the recognition and measurement of financial instruments, while the FASB issued Financial Accounting Standard (FAS) 133. These two standard setters have signed the Norwalk Agreement committing to plans to converge the IFRS and US accounting standards. This study focused on the application of IAS 39, with reference to commodity derivatives, with the main research objective being to investigate the accountancy implications of commodity derivatives in the South African agricultural sector. Furthermore it also serves to establish a standard methodology for the interpretation of IAS 39 and to serve as a benchmark and best practise for South African agribusinesses and commodity processors. For this purpose seven case studies were investigated by utilising a developed questionnaire, an illustrative flow diagram of IAS 39 and recorded structured interviews with the respondents. The accounting treatment of commodity derivatives was investigated by utilising nine transaction types which are typically found when producers sell grain to an agribusiness or a processor purchases grain from an agribusiness. The seven case studies were identified by utilising convenience sampling (unrestricted non–probability sampling). A literature review and empirical study were conducted. The findings on the accounting treatment of commodity derivatives were communicated thematically. The main findings were discussed during interviews with representatives of the technical departments of three of the Big Four audit firms in South Africa. A discussion of similar studies performed globally was performed. The recommendations following from this research study include that entities carrying “own use” inventory and applying hedge accounting can elect to apply the base adjustment consistently as part of their accounting policy on the valuation of inventory. Entities holding grain inventory for trading purposes should, based on industry practice, fair value such inventory. Various recommendations regarding the classification of a supply contract with a producer (as defined in a pre–season fixed price contract) depending on whether an entity applies hedge accounting or not, were made. Recommendations regarding the determination of fair value include that, based on industry practice and guidance by IAS 39, the SAFEX–based price should be utilised to fair value derivatives and to fair value inventory held by commodity–broker traders. The fair value movement on the option contracts taken out on behalf of the producer by an agribusiness should be transferred to the relevant producer's loan account. The recommendations concluded with a recommendation that entities should proactively consider and plan the impact of the replacement of IAS 39 on current business practices. Areas for further research could include investigating the accounting treatment of commodity derivatives of the newly issued accounting standards on financial instruments by IASB and the impact of these new standards on the business practices of entities. / Thesis (Ph.D. (Management Accountancy))--North-West University, Potchefstroom Campus, 2011.

Food security is a global topic of discussion and agricultural sectors play a vital role in the provision thereof. In South Africa the agribusinesses are some of the key players in providing financing, risk management and market advisory services to producers. Since the deregulation of the grain industry during 1996, many of these agribusinesses have converted their business form from cooperative to company and therefore adhere to International Financial Reporting Standards (IFRS). These agribusinesses trade commodity derivatives on the South African Futures Exchange (SAFEX) to hedge themselves and their producers against commodity price risk. Globally there has been a tremendous increase in the use of derivatives and other financial instruments and with the emergence of these new and more complex financial instruments, accounting regulations had to follow these developments. The applicable accounting practices at the time were considered as being insufficient and being applied inconsistently. The major global standard setters namely IASB and FASB separately tried to develop adequate standards to address the accounting treatment of these products. The IASB developed International Accounting Standard (IAS) 39 dealing with the recognition and measurement of financial instruments, while the FASB issued Financial Accounting Standard (FAS) 133. These two standard setters have signed the Norwalk Agreement committing to plans to converge the IFRS and US accounting standards. This study focused on the application of IAS 39, with reference to commodity derivatives, with the main research objective being to investigate the accountancy implications of commodity derivatives in the South African agricultural sector. Furthermore it also serves to establish a standard methodology for the interpretation of IAS 39 and to serve as a benchmark and best practise for South African agribusinesses and commodity processors. For this purpose seven case studies were investigated by utilising a developed questionnaire, an illustrative flow diagram of IAS 39 and recorded structured interviews with the respondents. The accounting treatment of commodity derivatives was investigated by utilising nine transaction types which are typically found when producers sell grain to an agribusiness or a processor purchases grain from an agribusiness. The seven case studies were identified by utilising convenience sampling (unrestricted non–probability sampling). A literature review and empirical study were conducted. The findings on the accounting treatment of commodity derivatives were communicated thematically. The main findings were discussed during interviews with representatives of the technical departments of three of the Big Four audit firms in South Africa. A discussion of similar studies performed globally was performed. The recommendations following from this research study include that entities carrying “own use” inventory and applying hedge accounting can elect to apply the base adjustment consistently as part of their accounting policy on the valuation of inventory. Entities holding grain inventory for trading purposes should, based on industry practice, fair value such inventory. Various recommendations regarding the classification of a supply contract with a producer (as defined in a pre–season fixed price contract) depending on whether an entity applies hedge accounting or not, were made. Recommendations regarding the determination of fair value include that, based on industry practice and guidance by IAS 39, the SAFEX–based price should be utilised to fair value derivatives and to fair value inventory held by commodity–broker traders. The fair value movement on the option contracts taken out on behalf of the producer by an agribusiness should be transferred to the relevant producer's loan account. The recommendations concluded with a recommendation that entities should proactively consider and plan the impact of the replacement of IAS 39 on current business practices. Areas for further research could include investigating the accounting treatment of commodity derivatives of the newly issued accounting standards on financial instruments by IASB and the impact of these new standards on the business practices of entities. / Thesis (Ph.D. (Management Accountancy))--North-West University, Potchefstroom Campus, 2011.

[ES] El emprendimiento rural es un área en desarrollo y motiva el interés de los gobiernos y los actores involucrados en la búsqueda de revitalizar espacios que históricamente se han venido marginando por la migración de la población en busca de oportunidades a las zonas urbanas y el escape a un conflicto armado de más de 50 años como el caso de Colombia, siendo un país que cuenta con una amplia extensión rural que llega al 96% del territorio. La mejora en la percepción de la seguridad debido al proceso de paz firmado en 2016 en la Habana (Cuba) y la disminución del conflicto armado en Departamentos como Antioquia presenta una vocación rural importante permite que se desarrollen nuevas apuestas empresariales en zonas que antes estaban vedadas por el conflicto armado. Motivado en lo anterior, en esta tesis se explora la actividad emprendedora de los estudiantes conectados con la ruralidad como lo son los de las Facultades de Ciencias Agrarias del Departamento de Antioquia. La primera parte de la tesis se centra en una revisión bibliográfica sobre la evolución del rol del emprendedor rural y del concepto del emprendimiento en sí, en esta parte se denota un cambio en la concepción de pasar de la creación de empresas solo pensando en la función agrícola, para transitar hacia la creación de empresas que no necesariamente son agrícolas, pero se ubican en un territorio rural, lo que da cabida a otro tipo de emprendimientos y una nueva forma de ver al emprendimiento rural. La segunda parte de la tesis realiza la exploración del marco normativo en Colombia para el emprendimiento, dejando ver que a pesar de tener una amplia extensión rural que llega al 99% del territorio del país, el desarrollo legislativo y de apoyo al emprendimiento rural es pobre, razón por la cual se convierte en una oportunidad para desarrollar estos territorios en un marco de posconflicto en Colombia. En tercer lugar, a través del examen preliminar del desarrollo de una fase exploratoria de trabajo de campo de estudios de caso, se pudo notar que los jóvenes participantes tienen interés por desarrollar apuestas empresariales en la ruralidad y generar empleo, no necesariamente se motivan por dinero, utilizan la innovación y la creatividad para compensar los desequilibrios del mercado. Aunque existen dificultades debido a la falta de apoyo estatal, marco normativo, dificultades para acceder al financiamiento y que no existe un ecosistema de emprendimiento rural. En cuarto lugar, se identificaron los impulsores, las barreras y las motivaciones para el emprendimiento rural. Se realizó mediante la consulta a expertos y el método Delphi que permitió la construcción de un instrumento al cual se realizaron las respectivas pruebas de fiabilidad tanto a la idoneidad de los expertos como al resultado de las variables en sí. En quinto lugar, el desarrollo del trabajo de campo, permite conocer la incidencia de los aspectos sociodemográficos en la actividad emprendedora de los jóvenes denominados "millennials" en la ruralidad de Antioquia, encontrándose que quienes tienen una mayor actividad son personas pertenecientes a clases altas mayoritariamente hombres, con estudios de posgrado, provenientes de familias donde los padres tienen al menos titulación universitaria, con situación distinta a soltero y con un rango de edad que oscila entre los 32 a 38 años. En sexto lugar, se analizó la competitividad de las empresas reportadas por los participantes del estudio, mediante un índice multidimensional encontrándose que la competitividad de las iniciativas se podría catalogar como media, solo exceptuándose alta en pocos casos como algunas empresas dedicadas a servicios para el agro, notándose que los puntos con mayor dificultad son la estrategia competitiva y el marketing. Por último, se analizó la actividad emprendedora en función de la intención emprendedora, la edad del encuestado, la edad de la empresa definida según los cr / [CA] L'emprendiment rural és una àrea en desenrotllament i motiva l'interés dels governs i els actors involucrats en la busca de revitalitzar espais que històricament s'han marginat per la migració de la població a la cerca d'oportunitats en les zones urbanes i la fuga a un conflicte armat de més de 50 anys com el cas de Colòmbia, sent un país que compta amb una àmplia extensió rural que arriba al 96% del territori La millora en la percepció de la seguretat a causa del procés de pau firmat en 2016 en l'Havana (Cuba) i la disminució del conflicte armat en Departaments com Antiòquia que també presenta una vocació rural important permet que es desenrotllen noves apostes empresarials en zones que abans estaven vedades pel conflicte armat Motivat en l'anterior, este treball s'explora l'activitat emprenedora d'estudiants connectats amb la ruralitat com ho són els de les Facultats de Ciències Agràries del Departament d'Antiòquia La primera part de la tesi se centra a fer una revisió bibliogràfica sobre l'evolució del rol de l'emprenedor rural i del concepte de l'emprenedoria en si, en esta part es denota un canvi en la concepció de passar de la creació d'empreses només pensant en la funció agrícola, per a transitar cap a la creació d'empreses que no necessàriament són agrícoles, però s'ubiquen en un territori rural, la qual cosa dóna cabuda a un altre tipus d'emprenedories i una nova forma de veure a l'emprenedoria rural. La segona part de la tesi realitza l'exploració del marc normatiu a Colòmbia per a l'emprenedoria, deixant veure que a pesar de tindre una àmplia extensió rural que arriba al 99% del territori del país, el desenrotllament legislatiu i de suport a l'emprendimiento rural és pobre, raó per la qual es convertix en una oportunitat per a desenrotllar estos territoris en un marc de postconflicte a Colòmbia En tercer lloc, l'exploració preliminar a través del desenrotllament d'una fase exploradora de treball de camp per mitjà de la documentació d'estudis de cas, es va poder notar que els jóvens participants tenen interés per desenrotllar apostes empresarials en la ruralitat i generar ocupació, no necessàriament es motiven per diners, utilitzen la innovació i la creativitat per a compensar els desequilibris del mercat, encara que hi ha dificultats degut a la falta de suport estatal, marc normatiu, dificultats per a accedir al finançament i la no existència d'un ecosistema d'emprenedoria rural. En quart lloc, es van identificar impulsors, barreres i motivacions per a l'emprenedoria rural per mitjà de la consulta a experts i el mètode Delphi que va permetre la construcció d'un instrument al qual es van realitzar les respectives proves de fiabilitat tant a la idoneïtat dels experts com al resultat de les variables en si. En quint lloc el desenrotllament del treball de camp, permet conéixer la incidència dels aspectes sociodemogràfics en l'activitat emprenedora dels jóvens denominats millennials; en la ruralitat d'Antiòquia, trobant-se que els que tenen una major activitat són persones pertanyents a classes altes majoritàriament hòmens, amb estudis de postgrau, provinents de famílies on els pares tenen almenys titulació universitària, amb situació diferent de la solteria i amb un rang d'edat que oscil·la entre els 32 a 38 anys. En sext lloc, s'analitze la competitivitat de les empreses reportades pels participants de l'estudi, per mitjà d'un índex multidimensional trobant-se que la competitivitat de les iniciatives es podria catalogar com mitja, només exceptuant-se alta en pocs casos i notant-se que els punts amb més dificultat són estratègia competitiva i màrqueting. Finalment, s'analitze l'activitat emprenedora en funció de la intenció emprenedora, l'edat de l'enquestat, l'edat de l'empresa definida segons els criteris del projecte GEM i l'índex de fre, el qual abrivament un model logit multinomial que mostra la incidència d'estos factors en / [EN] Rural entrepreneurship is a developing area and motivates the interest of governments and actors involved in the search to revitalize spaces that have historically been marginalized by the migration of the population in search of opportunities in urban areas and the escape from an armed conflict of more than 50 years as is the case of Colombia, being a country that has a large rural area that reaches 96% of the territory. The improvement in the perception of security due to the peace process signed in 2016 in Havana (Cuba) and the decrease in the armed conflict in departments such as Antioquia, which also has an important rural vocation, allows the development of new business ventures in areas previously closed to the armed conflict. Motivated by the above, this work explores the entrepreneurial activity of students connected to rurality, such as those from the Faculties of Agrarian Sciences of the Department of Antioquia. The first part of the thesis focuses on a bibliographic review of the evolution of the role of the rural entrepreneur and the concept of entrepreneurship itself. This part shows a change in the concept of moving from the creation of companies only thinking about the agricultural function, to the creation of companies that are not necessarily agricultural but are located in a rural territory, which allows for other types of enterprises and a new way of seeing rural entrepreneurship. The second part of the thesis explores the regulatory framework in Colombia for entrepreneurship, showing that despite having a large rural extension that reaches 99% of the country's territory, legislative development and support for rural entrepreneurship is poor, which is why it becomes an opportunity to develop these territories in a post-conflict framework in Colombia. Thirdly, the preliminary exploration through the development of an exploratory phase of fieldwork through the documentation of case studies, it could be noted that the young participants are interested in developing entrepreneurial bets in rurality and generate employment, they are not necessarily motivated by money, they use innovation and creativity to compensate for market imbalances, although there are difficulties due to the lack of state support, regulatory framework, difficulties in accessing funding and the non-existence of an ecosystem of rural entrepreneurship. Fourth, the drivers, barriers, and motivations for rural entrepreneurship were identified through consultation with experts and the Delphi method, which made it possible to construct an instrument for which the respective reliability tests were carried out on both the suitability of the experts and the outcome of the variables themselves. Fifthly, the development of the fieldwork, allows us to know the incidence of the sociodemographic aspects in the enterprising activity of the young people called "millennials" in the rural areas of Antioquia, being found that those who have a greater activity are people belonging to high classes, mainly men, with postgraduate studies, coming from families where the parents have at least a university degree, with a situation different from that of being single and with an age range that oscillates between 32 and 38 years old. In sixth place, it was analyzed the competitiveness of the companies reported by the participants of the study, through a multidimensional index being found that the competitiveness of the initiatives could be cataloged as average, only excepting high in few cases and noticing that the points with greater difficulty are competitive strategy and marketing. Finally, the entrepreneurial activity was analyzed according to the entrepreneurial intention, the age of the respondent, the age of the company defined by the criteria of the GEM project, and the braking index, which gave a multinomial logit model that shows the impact of these factors on the probability of entrepreneurial activity... / Arias Vargas, FJ. (2021). Actividad emprendedora de los millennials en Antioquia (Colombia) [Tesis doctoral]. Universitat Politècnica de València. https://doi.org/10.4995/Thesis/10251/164046