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Revision as of 13:15, 26 March 2020 by Doug Williamson (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)
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.