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March 5, 2020 at 3:10 am
I guess the choices were not edited in accordance with the amended standards.
Grape vine should be under PPE…
March 4, 2020 at 1:17 pm
Hi. Question 2, the answer is supposed to be the second option i.e at the point of harvest as grape vines are a bearer plant and are supposed to be accounted for in accordance to IAS 16 (Property, Plant and Equipment). The rest of the interpretation of the standard is correct- intangible assets relating to agricultural activity as well as land are outside the scope of the standard.
May 4, 2019 at 2:42 pm
Hi, In practice question 2 on Agriculture – I guess there is no right answer as there was an amendement to IAS 41 on bearer plants which were excluded from IAS41 scope? Thanks
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