IFRS Interpretations Committee — Items not added to the agenda 2017
Start date:
End date:
Location: London
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This page summarises all the issues where the IFRS Interpretations Committee finalised an agenda decision during the 2017 calendar year. |
IAS 41 — Biological assets growing on bearer plants
In March 2017, the IC discussed whether there are circumstances in which an entity cannot reliably measure the fair value of growing produce. In particular, the issue centred on whether fruit growing on oil palms could be considered to be an example of a biological asset for which an entity might rebut the fair value presumption set out in IAS 41.30.
Issue
In March 2017, the IC discussed whether there are circumstances in which an entity cannot reliably measure the fair value of growing produce. In particular, the issue centred on whether fruit growing on oil palms could be considered to be an example of a biological asset for which an entity might rebut the fair value presumption set out in IAS 41.30.
Decision not to add
June 2017
Reason
Please see our Interpretations Committee meeting notes for the discussion of the issue and the June 2017 IFRIC Update for the final wording of the decision.
IFRIC reference:
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