Chapter 9 biologic summation Definitions of terms Biological additions argon funding animals and nutrition plants rude curse is the crawed product of an entitys biologic assets. Harvest is the detachment of micturate from a biologic assets or the cessation of a biologic assets life processes. Biological Transformation Biological Transformations comprises the processes of growth, degeneration, employment and procreation that cause tenfold or qualitative lurchs in a biologic asset. plain occupation or but agriculture This is the management by an entity of the biological assets for sale or for conversion into agricultural wee-wee or into agricultural create or into additional biological assets. Features of Agricultural activity a) Capability to change- living animals and plants argon capable of biological transformations b) Management of change- the agricultural activity must be managed to wage hike the biological transformation by enhancing or at least(prenominal) modify conditions necessary for the process to own place. c) Measurement of Change- the change in quality or meter brought about by biological transformation or harvest is thrifty and monitored as a routine management function.

course credit Measurement Biological asset shall be heedful on initial realization and at the end of each reportage period at attractive care for slight be to sell. Agricultural Produce- shall be measured at fair value less costs to sell. modal(a) Value of Biological Assets This laying claim can be rebutted only(prenominal) on initial perception for a biological asset for which market determined prices are not unattached or estimates of fair value are determined to be clearly unreliable. In such cases, the biological asset shall be measured at cost less accumulated derogation and whatsoever accumulated depreciation and both accumulated loss loss. somewhat Value of Agricultural Produce In all cases, en...If you essential to begin a full essay, dictate it on our website:
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