International GAAP 2021

Chapter 42Agriculture

• 1 INTRODUCTION
• 2 OBJECTIVE, DEFINITIONS AND SCOPE
  • 2.1 Objective
  • 2.2 Definitions
    • 2.2.1 Agriculture-related definitions
      • 2.2.1.ADefinition of bearer plants
    • 2.2.2 General definitions
  • 2.3 Scope
    • 2.3.1 Biological assets outside the scope of IAS 41
    • 2.3.2 Agricultural produce before and after harvest
    • 2.3.3 Bearer plants and produce growing on a bearer plant
    • 2.3.4 Products that are the result of processing after harvest
    • 2.3.5 Leases of biological assets (excluding bearer plants)
      • 2.3.5.ALeases of biological assets (excluding bearer plants) – lessee accounting
      • 2.3.5.BLeases of biological assets (excluding bearer plants) – lessor accounting
    • 2.3.6 Concessions
• 3 RECOGNITION AND MEASUREMENT PRINCIPLES
  • 3.1 Recognition
    • 3.1.1 Control
  • 3.2 Measurement
    • 3.2.1 Biological assets within the scope of IAS 41
      • 3.2.1.AInitial and subsequent measurement
      • 3.2.1.BSubsequent expenditure
    • 3.2.2 Agricultural produce
    • 3.2.3 Requirements for produce growing on a bearer plant
      • 3.2.3.ARequirements for bearer plants in the scope of IAS 16
      • 3.2.3.BRequirements for agricultural produce growing on bearer plants
    • 3.2.4 Gains and losses
    • 3.2.5 Inability to measure fair value reliably
      • 3.2.5.ARebutting the presumption
      • 3.2.5.BThe cost model
  • 3.3 Government grants
• 4 MEASURING FAIR VALUE LESS COSTS TO SELL
  • 4.1 The interaction between IAS 41 and IFRS 13
  • 4.2 Establishing what to measure
    • 4.2.1 Unit of account
    • 4.2.2 Grouping of assets
  • 4.3 When to measure fair value
  • 4.4 Determining ...