IASB ISSUES IAS 16 REPORTING RULES FOR BEARER PLANTS

摘要

The much-debated revisions to the standard on the financial reporting of bearer plants as property, plant and machinery, have now been published by the International Accounting Standards Board (IASB), effectively changing the status of bearer plants, such as grape vines, rubber trees and oil palms, for accounting purposes. The change to the accounting reporting procedure means that from 1 January 2016 bearer plants will have to be accounted for in the same way as property, plant and equipment in IAS 16, Property, Plant and Equipment.