IAS 41 applies to the accounting for the following when they relate to agricultural activity:
I agricultural produce
II biological assets
III land related to agricultural activity
IV government grants

Question

IAS 41 applies to the accounting for the following when they relate to agricultural activity: 
I agricultural produce
II biological assets
III land related to agricultural activity
IV government grants

Quizplus · Accepted Answer

IAS 41 applies to biological assets related to agricultural activity and agricultural produce at the point of harvest. It also applies to government grants related to biological assets that are measured at fair value less costs to sell. It does not apply to land related to agricultural activity.

IAS 41 Applies to the Accounting for the Following When