Global Standards for the world economy

Thursday 21 January 2021

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IAS 41 Agriculture—Biological assets growing on bearer plants

 Work in progress—Tentative agenda decision

Biological assets growing on bearer plants

The Committee received a request about the fair value measurement of produce growing on bearer plants. More specifically, the request asked whether the Committee considers fruit growing on oil palms to be an example of a biological asset for which an entity might rebut the fair value presumption applying paragraph 30 of IAS 41.