Chapter 40
Agriculture
2 Objective, Definitions and Scope
2.2.1 Agriculture-related definitions
2.3.1 Biological assets outside the scope of IAS 41
2.3.2 Agricultural produce before and after harvest
2.3.3 Products that are the result of processing after harvest
3 Recognition and Measurement Principles
3.2.1.A Initial and subsequent measurement
3.2.1.B Subsequent expenditure
3.2.4 Inability to measure fair value reliably
3.2.4.A Rebutting the presumption
4 Determining Fair Value Less Costs to Sell
4.1 The interaction between IAS 41 and IFRS 13 – Fair Value Measurement
4.2 Establishing ‘what’ to measure
4.2.1 Current condition and location
4.2.1.A Biological assets attached to land
4.2.1.B Obligation to replant a biological asset after harvest
4.4.1 The fair value hierarchy
4.4.2 Determining fair value in an active market
4.4.3 Determining fair value where there is no active market
4.4.3.A Market-determined prices or values
4.4.3.C Cost as an approximation of fair value