Accounting for Biological Assets

Description

This book explores accounting for biological assets under IAS 41 - Agriculture, and explains the recent adjustments introduced by the IASB which allow firms to choose between cost or revaluation models concerning mature bearer plants. Identifying the firm and country-level drivers that inform the disclosure and measurement practices of biological assets, this concise guide examines the value relevance of measuring those assets at fair value. It also analyses how firm and country-level drivers explain the differences in the disclosure level and practices used to measure biological assets under IAS 41. Finally, it evaluates whether there is a difference in the relevance of biological assets among the listed firms with high and low disclosure levels on biological assets. Based on a major international study of a wide selection of firms and country-level drivers, this book is vital for standard setters, stakeholders, students, accountants and auditors who need to understand disclosure and measurement practices of biological assets under IAS 41.  Read more... ""Cover"" ""Half Title"" ""Series Information"" ""Title Page"" ""Copyright Page"" ""Table of contents"" ""List of tables"" ""List of appendices"" ""List of annexes"" ""List of abbreviations"" ""1 Overview"" ""Note"" ""2 International Accounting Standard 41 Agriculture"" ""Overview"" ""About IAS 41 and how it should be read"" ""Objective of IAS 41"" ""The scope of IAS 41 and its exemptions"" ""Definitions"" ""Recognition and measurement"" ""Recognition in profit or loss"" ""Inability to measure fair value reliably"" ""Government grants"" ""Disclosure requirements of IAS 41""""Recent amendments"" ""3 Accounting for biological assets: Current debate "" ""State of the art: Disclosure and measurement"" ""Introduction"" ""Literature review"" ""Disclosure requirements of IAS 41"" ""Measurement requirements of IAS 41"" ""Firm and country-level drivers: Disclosure and measurement"" ""Firm-level variables: Disclosure"" ""Biological assets intensity"" ""Ownership concentration"" ""Firm size"" ""Auditor type"" ""Internationalisation level and listing status"" ""Profitability"" ""Sector"" ""Firm-level variables: Measurement""""Biological assets intensity"" ""Firm size"" ""Listing status"" ""Regulation expertise"" ""Potential growth"" ""Leverage"" ""Sector"" ""Country-level variables"" ""Country classification"" ""Country-level variable: Disclosure"" ""Country-level variable: Measurement"" ""Disclosure index"" ""Notes"" ""4 Fair value relevance of biological assets"" ""Introduction"" ""Literature review"" ""Fair value relevance under international financial reporting"" ""Fair value relevance of non-financial assets"" ""Theoretical background"" ""Key research issues""""5 Empirical evidence"" ""Questions"" ""Sample"" ""Disclosure index"" ""Main results"" ""Disclosure"" ""Sample"" ""Firm and country-level drivers"" ""Some descriptive evidence"" ""Explanatory drivers"" ""Conclusions"" ""Measurement"" ""Sample"" ""Relationship between measurement practice and the type of biological assets"" ""Firm and country-level drivers"" ""Some descriptive evidence"" ""Explanatory drivers"" ""Conclusions"" ""Fair value relevance of biological assets"" ""Sample"" ""Research model"" ""Variables description"" ""Some descriptive evidence""""Explanatory drivers"" ""Conclusions"" ""Notes"" ""6 Main findings and future avenues of research"" ""References"" ""Appendices"" ""Annexes""