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Agriculture – Agriculture Advisory Group

Date recorded:

At its meeting on May 8 and 24, 2017, the Agriculture Advisory Group explored several key issues relating to definitions and scope that stakeholders raised in response to the Discussion Paper, and provided input on the staff’s proposals on how to address these concerns, including: (i) Government Grants, Land and Quotas; (ii) Grain Elevators and Related Hedges; (iii) Purchased and Grown Agricultural Produce; (iv) Aquaculture; and (v) Productive Biological Assets and Agricultural Inventories.

The Group also explored several key issues relating to measurement, which stakeholders raised in response to the Discussion Paper, and provided input on the staff’s proposals on how to address these concerns, including: (i) Type of Current Value; (ii) Conditions for Current Value; (iii) Accounting Policy Choice for Measurement of Unharvested Crops; (iv) Grown/Self-produced Inputs; (v) Close to Harvest; (vi) Accounting Policy Choice for Measurement of Productive Biological Assets; (vii) Amortization; (viii) Rebuttable Presumption; (ix) Deemed Cost; and (x) Culling.

Review the meeting notes on the AcSB's Web site.

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