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Agriculture – AcSB

Date recorded:

At its meeting on May 15, 2019, the AcSB considered two outstanding issues with the Exposure Draft proposals and decided to clarify: (i) that agricultural producers must apply judgment to determine whether purchased agricultural produce is within the scope of the Section 3041, Agriculture, if it is not used in agricultural production; and (ii) the unit of account for the amortization of productive biological assets. The AcSB also reviewed draft revisions to the guidance reflecting its decisions to date and directed staff to begin the fatal-flaw-review process. The AcSB plans to review a draft of the final standard in July 2019 and issue the final standard no later than the fourth quarter of 2019.

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

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Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.