Agriculture accounting
Plain-English guides to the accounting issues agriculture companies face, each with a worked example from the industry.
Agriculture accounting guides
- Agriculture accounting: the key IFRS issues3 minute readAgriculture accounting explained: IAS 41 fair value for biological assets, bearer plants under IAS 16, livestock, the point of harvest, produce and grants.
- Biological assets at fair value4 minute readBiological assets at fair value under IAS 41: fair value less costs to sell, IFRS 13 inputs, day one gains and losses, the cost exception, reconciliation.
- Bearer plants4 minute readBearer plants under IAS 16: which plants qualify, capitalising costs until maturity, depreciation over the productive life, produce under IAS 41.
- Dairy and livestock3 minute readDairy and livestock accounting under IAS 41: the herd at fair value, calves at birth, milk at the point of harvest, price and physical changes, and feed costs.
- Crops and the point of harvest4 minute readGrowing crops under IAS 41: valuing a crop in the field with a cash flow model, when cost approximates fair value, the point of harvest and the gain at harvest.
- Agricultural produce after harvest4 minute readAgricultural produce after harvest: deemed cost at the point of harvest, IAS 2 and net realisable value, storage, processing, cooperatives, exceptions.
- Grants for agriculture4 minute readGovernment grants for agriculture: IAS 41 rules for grants on biological assets at fair value, IAS 20 for bearer plants and costs, and conditional grants.
- Palm oil plantations4 minute readPalm oil plantations under IFRS: oil palms as bearer plants under IAS 16, fresh fruit bunches under IAS 41, mills, replanting, land rights and impairment.
- Poultry farming4 minute readPoultry farming accounting under IAS 41: broiler flocks at year end, laying hens as bearer animals, eggs at harvest, hatcheries, integrators and bird flu.
- Agricultural land4 minute readAgricultural land under IFRS: land as property, plant and equipment or investment property, separating land from crops, revaluation, improvements and leases.
- Hedging crop prices4 minute readHedging crop prices under IFRS 9: forward sales and own use, futures as cash flow hedges of the harvest, crops already at fair value, and basis risk.
Other industries
The standards behind these guides
About these guides
Each guide starts from an accounting issue agriculture companies actually face and works through it with numbers from the industry. 11 of 11 planned guides are published; more are added with every batch.