An enterprise should present the carrying amount of its biological assets separately on the face of its balance sheet.
An enterprise should disclose the aggregate gain or loss arising during the current period on initial recognition of biological assets and agricultural produce and from the change in fair value less estimated point-of-sale costs of biological assets.
(IAS 41, Paras 39 and 40)
An enterprise should provide a description of each group of biological assets.
(IAS 41, Para 41)
If not disclosed elsewhere in information published with the financial statements, an enterprise should describe
The nature of its activities involving each group of biological assets; and
Nonfinancial measures or estimates of the physical quantities of
Each group of the enterprise's biological assets at the end of the period; and
Output of agricultural produce during the period.
(IAS 41, Para 46)
An enterprise should disclose the methods and significant assumptions applied in determining the fair value of each group of agricultural produce at the point of harvest and each group of biological assets.
(IAS 41, Para 47)
An enterprise should disclose the fair value less estimated point-of-sale costs of agricultural produce harvested during the period, determined at the point of harvest.
(IAS 41, Para 48)
An enterprise should disclose
The existence and carrying amounts of biological assets whose title is restricted, and the carrying amounts of biological assets pledged as security for liabilities;
The amount of commitments for the development or acquisition of biological assets; and
Financial risk management strategies related to agricultural activity.
(IAS 41, Para 49)
An enterprise should present a reconciliation of changes in the carrying amount of biological assets between the beginning and the end of the current period. Comparative information is not required. The reconciliation should include
The gain or loss arising from changes in fair value less estimated point-of-sale costs;
Increases due to purchases;
Decreases due to sales;
Decreases due to harvest;
Increases resulting from business combinations;
Net exchange differences arising on the translation of financial statements of a foreign entity; and
(IAS 41, Para 50)
If an enterprise measures biological assets at their cost less any accumulated depreciation and any accumulated impairment losses at the end of the period, the enterprise should disclose for such biological assets
A description of the biological assets;
An explanation of why fair value cannot be measured reliably;
If possible, the range of estimates within which fair value is highly likely to lie;
The depreciation method used;
The useful lives or the depreciation rates used; and
The gross carrying amount and the accumulated depreciation (aggregated with accumulated impairment losses) at the beginning and end of the period.
(IAS 41, Para 54)
If, during the current period, an enterprise measures biological assets at their cost less any accumulated depreciation and any accumulated impairment losses, an enterprise should disclose any gain or loss recognized on disposal of such biological assets and the reconciliation required by IAS 41, para 50, should disclose amounts related to such biological assets separately. In addition, the reconciliation should include the following amounts included in net profit or loss related to those biological assets:
Reversals of impairment losses; and
If the fair value of biological assets previously measured at their cost, less any accumulated depreciation and any accumulated impairment losses, becomes reliably measurable during the current period, an enterprise should disclose for those biological assets
A description of the biological assets;
An explanation of why fair value has become reliably measurable; and
The effect of the change.
(IAS 41, Para 56)
An enterprise should disclose the following related to agricultural activity covered by this Standard:
The nature and extent of government grants recognized in the financial statements; and
Unfulfilled conditions and other contingencies attaching to government grants.
(IAS 41, Para 57)