Chapter 6 - Agriculture And Inventories PDF
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Summary
This document details aspects of inventory valuation in agriculture. It discusses biological assets, agricultural produce, and general inventory accounting principles. The chapter focuses on accounting treatments for agricultural products and associated processes.
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Mainly focuses on fair value or market value Q ·. Bological as. from On the seed to pick up day of harvest : ② Agricultural produce Cotton ③ Product - Clothes - 1.. 2 Examples lAS4/ Biological asset (AS 4) Agricultural produce IAS2 Product Sheep Wool. Sweater 3 At year endi Revalue to fair value cos...
Mainly focuses on fair value or market value Q ·. Bological as. from On the seed to pick up day of harvest : ② Agricultural produce Cotton ③ Product - Clothes - 1.. 2 Examples lAS4/ Biological asset (AS 4) Agricultural produce IAS2 Product Sheep Wool. Sweater 3 At year endi Revalue to fair value cost to sell - If fu not available the measure Another definition A plant a being its e. g. mango tree. chance of sold during lifetime Look up examples of plants cost : which has remote at > - Mango is treated in IA S 41 until it is harvested. - depriciati I cost 2 3 cost Labour to convert + overhead only Can When item is from be each applied inventory different the other Use the actual of e. each from material into products. cost item. customized g item LIFO is not allowed in 1AS2 Calculation * won't be asked in SBR
