Farm animals that are classified as assets. International Accounting Standards actually require that these types of assets are recorded on balance sheets at their market value. Once the assets have either been slaughtered or harvested, then the assets will become agricultural produce.
Related information about biological assets:
- Biological Assets
The biological assets keep on transforming. They grow, degenerate, and produce . As a result quantitative or qualitative changes occur in the nature of biological ...
- What Is the Meaning of Biological Assets? | eHow.com
What Is the Meaning of Biological Assets?. Accounting practices offer categories for assets--the property, buildings, machines, animals, crops and other items ...
- IAS 41 — Bearer biological assets — IAS Plus
A limited scope project to consider an amendment to IAS 41 'Agriculture' in relation to bearer biological assets, as to whether these assets would be better ...
- IFRS - Amendments to IAS 41 Agriculture – Bearer biological assets
Agricultural activity is the management by an entity of the biological transformation of living animals or plants (biological assets) for sale, into agricultural produce ...
- Biological Assets - Definition of Biological Assets - QFINANCE
Definition of biological assets from QFinance - The Ultimate Financial Resource. What is biological assets? Definitions and meanings of biological assets.
- A practical guide to accounting for agricultural assets - PwC inform
1.5 When an entity rears or grows biological assets under contract for a third party, ... 3.11 Are quantitative disclosures of the volumes of biological assets at the ...
- What is biological assets? definition and meaning
Definition of biological assets: Farm animals that are classified as assets. International Accounting Standards actually require that these types of assets are ...
- 17 BUSINESS ACCOUNTING STANDARD “BIOLOGICAL ASSETS” I ...
1.1. to set out how biological assets used in agricultural activities shall be ... 1.2. to set out how agricultural produce arising from biological assets shall be ...