Under IAS 41/AASB 141 the basis for measuring biological assets is:

Question

Quizplus · Accepted Answer

Under IAS 41/AASB 141, biological assets are measured at fair value less costs to sell. This means that the assets are valued based on their current market value, minus any costs that would be incurred to sell them. This measurement basis is deemed to provide the most relevant information for decision-making purposes, as it reflects the economic value of the assets at the reporting date.

Under IAS 41/AASB 141 the Basis for Measuring Biological Assets