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  • Service: Audit, IFRS
  • Date: 10/31/2013

KPMG supports simpler measurement of bearer plants 

KPMG has expressed its clear support for the IASB's proposals to allow entities to account for bearer plants – e.g. grapevines or palm trees bearing fruit – using the cost method.

We believe that the proposed amendments provide a simple and practical way of resolving the issue reported to the IASB by users and preparers that the fair value model required by IAS 41 Agriculture is not appropriate for measuring bearer plants.

KPMG comments on Bearer Plants

Feature image
Comment letter on ED/2013/8 Agriculture: Bearer Plants

© 2014 KPMG IFRG Limited is a UK company, limited by guarantee. All rights reserved. KPMG IFRG Limited, registered in England No 5253019. Registered office: 8 Salisbury Square, London, EC4Y 8BB

 

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