- October 27, 2015 at 12:13 am #279140
sir in book it is given that IAS does not apply for biological assets related to agricultural activity , apart from bearer biological assets (BBAs) . examples of BBAs are given grape vine, rubber plants etc. But I could not get clear idea on BBAs and biological assets related to agricultural activity.October 27, 2015 at 12:13 am #279141
and also tell me why those agricultural activities not included in IAS16October 27, 2015 at 5:31 am #279155
In your first post, are you asking for a example of a biological asset that isn’t a bearer biological asset? If so, what about trees that are grown to be cut down and used as telegraph poles, or used for making furniture?
In answer to your second post, grape vines, rubber plants and fruit trees are all there for the long term to bear fruit that will be harvested. But after harvest, the vine, plant or tree will still be there, ready to bear fruit next year
OK?October 27, 2015 at 12:24 pm #279248
sir what about the plants like rice, barley plant, maize, millet etc. are those also bearer biological assets?October 27, 2015 at 4:00 pm #279284
These are biological assets, not bearer biological assets. When these are harvested (I think) the whole plant is pulled up (rice) or ploughed over (wheat, barley, corn etc)
But that’s not the same as for a grape vine that stays in the ground ready to produce grapes next yearOctober 29, 2015 at 12:35 am #279456
thank you sir 🙂October 29, 2015 at 5:27 am #279464
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