Biological Assets: Financial Recognition and Reporting Using US and International Accounting Guidance
The agriculture sector is an important element of the global economy but accounting for its activities has had little attention from the accounting standard setters as most business applications focus on production, marketing or tax reporting. This study reviews and discusses current US and international accounting guidance for agricultural and biological assets. With the ongoing discussion between the FASB and the IASB regarding the adoption of international accounting standards, the study also explores the advantages and disadvantages should the US elect to adopt the international accounting guidance for agricultural activities.
Fischer, Mary and Marsh, Treba, "Biological Assets: Financial Recognition and Reporting Using US and International Accounting Guidance" (2013). Faculty Publications. 1.
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