User Account

All Pages

What is meant by consumable and bearer biological assets

Assignment Help Financial Accounting
Reference no: EM132647022

IFRS 41 Agriculture prescribes the accounting treatment and disclosures related to agricultural activities. An entity is encouraged, but not required, to provide a quantified description of each group of biological assets, distinguishing between consumables and bearer biological assets, or between mature and immature biological assets, as appropriate.

Required

Question 1. Distinguish between a biological asset and an item of agriculture produce.

Question 2. Explain how agriculture produce is measured in the financial statements of an entity.

Question 3. Give five examples of biological assets and their relative agricultural produce.

Question 4. Explain what is meant by consumable and bearer biological assets, giving one example for each.

Reference no: EM132647022

Questions Cloud

Determine whether this is an equitable exchange for Mila : Determine whether this is an equitable exchange for Mila. Prepare your solution using spreadsheet software such as Microsoft Excel
Bamboo reinforced concrete : Bamboo reinforced Concrete - Literature Review Template for Engineering Project Preparation - Discuss the different solutions/methods from the articles
Potential security issues : The following potential security issues were identified in a routine audit of log-ins to the electronic health record and other systems:
Demonstrate whether this offer should be accepted : If the shareholders use a 5% discount rate, demonstrate whether this offer should be accepted. Hint: Use text Appendix F in your analysis
What is meant by consumable and bearer biological assets : IFRS 41 Agriculture prescribes the accounting treatment, What is meant by consumable and bearer biological assets, giving one example for each.
What is an agency relationship : What is an agency relationship? When you first begin operations, assuming you are the only employee and only your money is invested in the business
Draw profit diagram for apple call option with strike price : Draw profit diagram for apple call option with strike price of 115 maturing on Jan 15, 2021. You will put share price on maturity on X-axis and the profit
What amount should retained earnings be reported in the firm : Balance on January 1, 2017, at what amount should retained earnings be reported in the firm's balance sheet dated December 31, 2017
How much of the Border NOL can be utilized in current year : If Collie reports taxable income of $400,000 for the current year, how much of the Border NOL can be utilized in the current year

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd