Difference between revisions of "Bearer plant"

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(Create page. Sources: IFRS https://www.ifrs.org/issued-standards/list-of-standards/ias-16-property-plant-and-equipment/, Deloitte https://www2.deloitte.com/content/dam/Deloitte/in/Documents/CIP/in-ind-as-bearer-plants-noexp.pdf)
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Latest revision as of 13:15, 26 March 2020

Financial reporting - IAS 16 - property, plant and equipment.

Bearer plants include agricultural assets such as:

  • Sugar cane roots that produce standing sugar cane
  • Tea bushes that produce tea leaves
  • Rubber trees that produce latex

Under IAS 16, bearer plants are accounted for as property, plant and equipment if they:

  • Are used in the production or supply of agricultural produce;
  • Are expected to bear produce for more than one financial reporting period; and
  • Have a remote likelihood of being sold.

See also