IFRS® Standards

Bearer Biological Assets (Amend IAS 41)

Summary

The Accounting Standards Board (AcSB) is participating in the International Accounting Standards Board’s (IASB) limited-scope improvement to IAS 41 Agriculture in respect of bearer biological assets.

Staff Contact(s)

Davina Tam, CPA, CA

Principal, Accounting Standards Board

Meeting & event summaries


News


July 8, 2014

News

Final Amendments – Agriculture: Bearer Plants

July 8, 2014. The IASB has issued narrow-scope amendments to IAS 16 Property, Plant and Equipment and IAS 41 Agriculture to address the accounting for bearer plants. The amendments are effective for annual periods beginning on or after January 1, 2016 with earlier application permitted. 

October 28, 2013

News

AcSB Response – Agriculture: Bearer Plants

On October 28, 2013, the AcSB submitted a comment letter responding to the IASB’s Exposure Draft issued in June 2013.  The letter supports the efforts to improve the accounting for bearer biological assets.  The letter recommends that the scope of the proposed amendments be expanded and provides some other input to enhance the quality of the amendments. Read the AcSB letter posted by the IASB.

July 12, 2013

News

AcSB Exposure Draft – Agriculture: Bearer Plants (Proposed amendments to IAS 16 and IAS 41)

July 12, 2013. The AcSB has issued an Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic.  Stakeholders are encouraged to submit their comments, on the form provided, by October 28, 2013

July 4, 2013

News

IASB Exposure Draft – Agriculture: Bearer Plants (Proposed amendments to IAS 16 and IAS 41)

July 4, 2013. The IASB has issued an Exposure Draft proposing amendments to IAS 16 Property, Plant and Equipment and IAS 41 Agriculture.  Canadian stakeholders are encouraged to submit their comments to the IASB by October 28, 2013.

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 ballot process.