SCOPE

DEFINITION OF
TERMS

BIOLOGICAL ASSET
(PAS 41) RECOGNITION

MEASUREMENT

GAINS AND
LOSSES
 BIOLOGICAL ASSETS
EXCEPT BEARER PLANTS

AGRICULTURAL PRODUCE
INCLUSIONS AT THE POINT OF
HARVEST

UNCONDITIONAL
GOVERNMENT GRANTS
RELATED TO BIOLOGICAL
ASSETS

BIOLOGICAL ASSET
SCOPE
(PAS 41) LAND RELATED TO
AGRICULTURAL ACITVITY
(PAS 16)

BEARER PLANTS (PAS 16);

NOTE: PAS 41 APPLIES ON
AGRICULTURAL PRODUCE
OF BEARER PLANTS
EXCLUSIONS

GOVERNMENT GRANTS
RELATED TO BEARER
PLANTS (PAS 20)

INTANGIBLE ASSETS
RELATED TO
AGRICULTURAL ACTIVTY
(PAS 38)
 HARVESTED AS AGRICULTURAL PRODUCE
CONSUMABLE
LIVING ANIMAL AND LIVING PLANTS BIOLOGICAL ASSETS
SOLD AS BIOLOGICAL ASSET
AS TO CONSUMPTION
HELD TO BEAR PRODUCE
BEARER BIOLOGICAL
ASSETS
BIOLOGICAL ASSETS ONLY AGRI PRODUCE IS HARVESTED WHILE BIO
ASSET REMAINS

ATTAINED HARVESTABLE SPECIFICATIONS

MATURE BIOLOGICAL
ASSETS
ABLE TO SUSTAIN REGULAR HARVESTS
AS TO MATURITY
DO NOT ATTAINED HARVESTABLE
IMMATURE SPECIFICATIONS
HARVESTED PRODUCED BIOLOGICAL ASSETS
AGRICULTURAL
PRODUCE ABLE TO SUSTAIN REGULAR HARVESTS
NATURAL STATE NOT YET PROCESSED.
(PROCESSED = INVENTORIES)

DEFINITION GROWTH
OF TERMS

DEGENERATION
CAPABILITY TO CHANGE
PROCEATION
AGRICULTURE MANAGEMENT OF CHANGE
PRODUCTION OF AGRI
PRODUCED
MEASUREMENT OF CHANGE

USED IN THE PRODUCTION OR SUPPLY OF AGRI NOTES:

PRODUCE
EXPECTED TO BEAR PRODUCE FOR MORE
BEARER PLANTS
THAN ONE PERIOD
REMOTE LIKELIHOOD OF BEING SOLD AS AGRI
PRODUCE EXCEPT INCIDENTAL SCRAP SALES.
 AGRICULTURAL PRODUCE ON BEARER PLANTS REMAINS
WITHIN THE SCOPE OF PAS 41
 PLANT WITH DUAL USE IS REPORTED AS BIOLOGICAL ASSET
o CULTIVATED FOR BEARING AGRI PRODUCE
o SOLD EITHER AS LIVING PLANT OR AGRI PRODUCE
  IF THERE ARE 2 OR MORE ACTIVE MARKETS, (1) USE THE PRICE IN THE PRINCIPAL MARKET, IF
RESULT OF PAST EVENT NONE, (2) PRICE OF THE MOST ADVANTAGEOUS BETWEEN ACTIVE MARKETS
 CTS IS THE INCREMENTAL COST DIRECTLY ATTRIBUTABLE TO THE DISPOSAL OF ASSET
INCLUSION EXCLUSION
RECOGNITION FUTURE ECONOMIC BENEFITS
COMMISSIONS TO BROKERS TRANSPORT COST
LEVIES BY REGULATORY AGENCIES INCOME TAXES
FAIR VALUE OR COST OF THE ASSET CAN BE TRANSFER TAXES AND DUTIES INTEREST EXPENSE
MEASURED RELIABLY

FV - CTS

INITIAL MEASUREMENT CARRYING AMOUNT

BIOLOGICAL ASSET COST

SUBSEQUENT MEASUREMENT FV - CTS

MEASUREMENT
BIOLOGICAL ASSET
(PAS 41) INITIAL MEASUREMENT FV - CTS
AGRICULTURAL PRODUCE

SUBSEQUENT MEASUREMENT PAS 2 OR OTHER APPLICABLE STANDARDS

GAIN
TOTAL CASH OUTLAY < FV - CTS
BIOLOGICAL ASSET
LOSS
ON INITIAL RECOGNITION TOTAL CASH OUTLAY > FV - CTS

AGRICULTURAL PRODUCE USUALLY GAIN UNLESS FROM CONSUMABLE

BIO ASSET

SAME AGE (BEGINNING AGE); (PRICE END, BEG. AGE - PRICE BEG, BEG.
DIFFERENT DATE AGE) X QUANTITY
ON CHANGES IN FAIR VALUE
GAINS AND LOSSES
DIFFERENT AGE; SAME DATE (YEAR PRICE END, END AGE - PRICE END, BEG.
END) AGE) X QUANTITY + FVCLS OF NEWBORN

UNCONDITIONAL GRANTS = RECEIVABLE

ON GOVERNMENT GRANT CONDITIONAL ATTACHED CONDITIONS ARE MET

CONDITIONAL BUT TERMS ALLOW INCOME AS TIME PASSES USING STRAIGHT

PART OF IT TO BE RETAINED LINE METHOD