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Tuesday 30 September 2014

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IFRS Interpretations Committee

Agriculture: Fair Value Measurement

 IFRS Interpretations Committee agenda decision

IAS 41 Agriculture: Valuation of biological assets using a residual method

Using the fair value of the land (ie based on its highest and best use as required by IFRS 13 Fair Value Measurement) in applying the residual method in IAS 41 Agriculture might result in a minimal or nil fair value for the biological assets when the current use of the land is different from its highest and best use.

Project stages


Issued documents

Stage completed: November 2012


Stage completed: March 2013


Stage completed: May 2013