The objectives of this study were to investigate: 1) impacts and a guideline for accounting practice in accordance with the agricultural practice standard and 2) problems encountered in the application of agricultural accounting standard. Secondary data were collected by in-depth interview through telephone and electronic questionnaires. Informants of the study were fruit business accountants from 49 orchards. Descriptive statistics was used for analyzing obtained data.
Findings showed that all of the informants (100 percent) perceived and assessed the bio-asset value by using costs and percentage (100 percent). However, they did not perceive the value of agricultural yields at the harvesting origin. For problems encountered, it was found that reliable value could not be found. Besides, one-half of the accountants did not know and assess the value of agricultural yields at the harvesting origin. The problem in sales volume recording was that the informants could not find reliable value. Besides, one-half of the informants did not know that the accounting standard would be applied. All of the informants did not understand the content of the agricultural accounting draft. Besides, it was found that there was no accounting program records to be revealed and it was so complicated. Moreover, the informants revealed that the application of the agricultural accounting standard could load to the belief in financial budget of the agricultural business in Thailand. However, the Accounting Professional Council of Thailand should let the informants to understand, solve problems, and prepare essential data before the proclaim of the agricultural accounting standard or the agricultural business in Thailand.