CenterPoint® Accounting for Agriculture - New Crop Production Transaction Video - Duration: 9 min 41 sec

New Crop Production Transaction

 

This video discusses the transaction that is entered after harvest which will increase a Crop Inventory asset on the Balance Sheet and increases a Revenue account on the accrual Income Statement. Both the inventory and the revenue represent the value of the harvested crop. Prior to entering the new crop production, the list of crop production details should be in place.