Indian is an agriculture based economy, many activities are being carried out in way to raise live animals, crop harvesting & selling etc. Organized and unorganized both sectors operate agricultural activities. Although under the current accounting systems there is nothing specific in terms of guidance which can talk about how to account/ deal with these agricultural activities in the books of account still with the help of following list of accounts or head of expenses we can maintain financial statements of agriculture organization.
Direct Expenses Heads:
Canal, Pipeline Repairs & Maintenance Exp
Insurance of Crop
Insurance of Live Stock
Land Development Expenses