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Exercise - Audit of Biological Assets
Exercise - Audit of Biological Assets
Exercise - Audit of Biological Assets
In addition, if the fair value of biological assets previously measured at cost less any
accumulated depreciation and any accumulated impairment losses subsequently
becomes reliably measurable, an enterprise should disclose a description of the
biological assets, an explanation of why fair value has become reliably measurable, and
the effect of the change. Disclosure is also required in respect of government grants
relating to managed agricultural activity.
Sources:
https://www.iasplus.com/en/standards/ias/ias41
https://www.accaglobal.com/in/en/student/exam-support-resources/dipifr-study-resources/technical-
articles/ias-41.html