https://orwiki.org/index.php?action=history&feed=atom&title=t%3AIAS41 2026-05-10T21:41:23Z Revision history for this page on the wiki MediaWiki 1.28.0 https://orwiki.org/index.php?title=t:IAS41&diff=19797&oldid=prev 2020-08-20T13:37:59Z

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Orwiki https://orwiki.org/index.php?title=t:IAS41&diff=19796&oldid=prev 2020-08-20T13:13:15Z

<p></p> <p><b>New page</b></p><div>{{this}} prescribes the accounting treatment, financial statement presentation, and disclosures related to agricultural activity. Agricultural activity is the management of the biological transformation of biological assets (living animals or plants) and harvest of biological assets for sale or for conversion into agricultural produce or into additional biological assets.<br /> <br /> {{this}} establishes the accounting treatment for biological assets during their growth, degeneration, production and procreation, and for the initial measurement of agricultural produce at the point of harvest. It does not deal with processing of agricultural produce after harvest (for example, processing grapes into wine, or wool into yarn). {{this}} contains the following accounting requirements:<br /> <br /> bearer plants are accounted for using [[Link::t:IAS16]];<br /> other biological assets are measured at fair value less costs to sell;<br /> agricultural produce at the point of harvest is also measured at fair value less costs to sell;<br /> <br /> changes in the fair value of biological assets are included in profit or loss; and<br /> biological assets attached to land (for example, trees in a plantation forest) are measured separately from the land. <br /> The fair value of a biological asset or agricultural produce is its market price less any costs to sell the produce. Costs to sell include commissions, levies, and transfer taxes and duties.<br /> <br /> {{this}} differs from [[Link::t:IAS20]] with regard to recognition of government grants. Unconditional grants related to biological assets measured at fair value less costs to sell are recognized as income when the grant becomes receivable. Conditional grants are recognized as income only when the conditions attaching to the grant are met.<br /> <br /> <br /> {{this}} is Copyright: [https://IFRS.org IFRS Foundation]<br /> &lt;ins&gt;<br /> [[Link::t:PP&amp;E]]<br /> &lt;/ins&gt;<br /> [[Category:Term]][[Category:Finance]]<br /> {{Object<br /> |name=IAS 41 Agriculture<br /> |parent=t:IFRS<br /> |sort=10041<br /> |level=1<br /> |keywords=IAS, IFRS, Standard, Financial, Accounting, Agriculture, Fair Value, Produce, Plants, Biology<br /> |description=IAS 41 prescribes the accounting treatment, financial statement presentation, and disclosures related to agricultural activity<br /> }}</div>

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