IAS 41

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IAS 41 revision question (NBAA C1, NOV 2018)

Agriculture is one of the world’s largest industry. In some countries it is the mainstay of the gross domestic product. Yet until January 2003 when the IASB issued IAS 41 Agriculture, no major accounting standard setting body had issued a comprehensive pronouncement on this topic. IAS 41 introduced what some would say are radical changes in the way agricultural … Read the rest

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IAS 41 Revision question 2 (NBAA, NOV 2018)



Miti Safi na Nyuki Brothers (MSNB) is a Limited Company that was incorporated to invest in forest and bee resources in general and to collect forestry and beekeeping revenues. As at 30th June 2018, it had a forest plantation in the Southern Highland part of Tanzania in Njombe region consisting of 250,000 Eucalyptus trees that … Read the rest

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Biological assets and how IAS 41 requires them to be treated in the financial statements.

Agriculture is one of the world’s largest industry. In some countries it is the mainstay of the gross domestic product. Yet until January 2003 when the IASB issued IAS 41 Agriculture, no major accounting standard setting body had issued a comprehensive pronouncement on this topic. IAS 41 introduced what some would say are radical changes in the way agricultural … Read the rest

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2020 Updated list of International Accounting Standards (IAS)

The following are the list of updated international accounting standards (IAS) in 2020:

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