Agriculture

Summary

Currently, there is a significant diversity in practice regarding the accounting for biological assets.

Staff Contact(s)

Davina Tam, CPA, CA Principal, Accounting Standards Board

+1 416 204 3514

[email protected]

Katherine Knowlton, CPA, CA Associate Director, Accounting Standards Board

+1 416 204 3332

[email protected]

Project Status

Information gathering

Completed prior to March 2012
Approving project

The AcSB approved a research project in March 2012

A standards-level project was approved in December 2016
Engaging Communities

Discussion Paper issued December 2015

Public outreach took place December 2015–January 2017

Exposure Draft issued in July 2018

Public outreach took place July 2016–November 2018
Deliberating feedback

The AcSB has deliberated feedback on its Exposure Draft
Final pronouncement

The final amendments were issued in the CPA Canada Handbook – Accounting in November 2019

Implementation

Read CPA Canada’s briefing detailing the new Standard and what factors to consider when applying it.

Read now

Read our non-authoritative guidance on how to apply the to apply the disclosure requirements for the net realizable value model in the new Standard.

Read now

Disclaimer

This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal voting process.