IAS 41 Agriculture summary - applies in 2024

www.cpdbox.com If you want to learn more about this standard, here are a few useful links:
*Top 3 questions related to accounting for agriculture: www.cpdbox.com/ias-41-agricul...
*How to account for subsequent expenses in agriculture: www.cpdbox.com/ias-41-subsequ...
This video is a short summary of IAS 41 and does NOT replace the full standard - you can see the full text on IFRS Foundation's website.
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*Online IFRS course by Silvia, CPDbox: www.cpdbox.com/ifrs-kit/
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[@mosesmutsikwi370]

Mam your all videos are extremely good.

[@molebatsilichakane8437]

Thank you Ms Silvia for your superb and straight to the point summary of IFRSs, you really helped me especially as I prepare to take my ACCA SBR exam

[@samianasir5871]

How was your exam ?

[@evansmatanda9051]

Thanks, very informative

[@lindo_eternal]

Hi Silvia thank you so much for the brilliant content, we in South Africa highly appreciate you, May I please request a video about SUBSTANCE OVER FORM?
THANK YOU IN ADVANCE😊

[@jubayrulkabir2867]

Thanks for the video.

[@Optimusprime809]

Thanks Silvia, this is helpful for my upcoming SBR exam (strange that they assess this!). I love your voice, you should narrate audio books! 😂

[@mutebipaul8149]

👍👍 thank you

[@bigsam986]

You made my account easy at university❤️

[@md.shorabhossain7782]

nice video

[@happypill6195]

thank you this helped alot for my essay

[@kainesu1828]

hello, what if the biological asset is a fish breeder and the new borns from it are being biologically transformed for 3 months before its harvested and sold to the wet market. should i account the newborns as inventory on date born? or as biological asset?

[@bashorunbunmi6807]

😍

[@samuelquayson2037]

Great stuff here...

[@momodousowe3034]

Will the produce include eggs in the case of poultry farming? In pratical terms how do you recognise the accounting entries for eggs produced?

[@CPDbox]

Yes, eggs are agricultural produce. When eggs are harvested, you should recognize them at their fair value less cost to sell. And, you should show them as inventories under IAS 2, not biological assets.

[@HeavenLuna-mx5ws]

Is initial gain in biological assets realized or unrealized?

[@CPDbox]

Realized, if you meant to ask whether it is recognized in profit or loss.

[@mohammedmeko9709]

would you give me ppt?

[@Simplykenny777]

Thank you so much for this presentation.
Please what happens to eggs that hatches to chicks?
If egg is agricultural produce but it has now transformed to chick. How do we recognise this?

[@CPDbox]

Then again, it depends on the purpose of breeding those chicks - are you holding them to sell them? Or to produce further eggs? Initially, after they hatch, you recognize them at fair value and then it depends on that purpose.

[@Simplykenny777]

@@CPDbox I am holding some to sell and some for egg production