IMPROVING ACCOUNTING AND FINANCIAL REPORTING FOR BIOLOGICAL ASSETS AND AGRICULTURAL PRODUCE IN ACCORDANCE WITH INTERNATIONAL STANDARDS
DOI:
https://doi.org/10.5281/zenodo.21295414Keywords:
biological assets, agricultural produce, processed products, fair value, recognition, disclosure, IAS 41.Abstract
This paper examines improvements in accounting for biological assets, agricultural produce, and
products resulting from processing after harvest in accordance with International Accounting Standard (IAS) 41
“Agriculture.” It distinguishes between biological assets and agricultural produce, considers the recognition and
measurement of harvested produce, and examines the application of cost and market approaches, as well as
accounting policy and disclosure requirements.
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