Accounting for Biological Assets

This book explores accounting for biological assets under IAS 41 – Agriculture, and explains the recent adjustments introduced by the IASB which allow firms to choose between cost or revaluation models concerning mature bearer plants. Identifying the firm and country-level drivers that explain disclosure and measurement practices of biological assets, this concise guide examines the value relevance of measuring those assets at fair value. Based on an international study of a wide selection of firms, countries and drivers, this book is vital for standard setters, stakeholders, students, accountants and auditors to better understand disclosure and measurement practices under IAS 41.