Ch 6_Biol assets Flashcards
1
Q
Initial recog
A
at FV-estimated cost to sell; loss can arise bc estimated selling costs are dedcuted; gain if new bio asset is added (lamb or calf)
reval-ed at each reporting, g or l in PL, separate disc in change due to shift if price or shift in age
if no market - cost- AD
2
Q
Agro produce
A
FV-cost to sell
