At its meeting on March 21-22, 2017, the AcSB considered feedback from additional consultations held with users of financial statements on its Discussion Paper, “Agriculture,” and continued its deliberations on the key issues raised by stakeholders, including: (i) Measurement – Underlying Principle; (ii) Project Scope – Purchased Agricultural Produce; and (iii) Measurement – Unharvested Crops and Bearer Animals at Cost.

The AcSB is forming a new Agriculture Advisory Group, comprised of agricultural experts, to help develop proposals that will meet the sector’s needs. The AcSB directed staff to obtain advice from the Group on these decisions as well as the other complex issues raised by stakeholders. The AcSB plans to issue an exposure draft for public comment no later than the first quarter of 2018.

Review the Executive Summary on the AcSB's Web site.