Agriculture Knowledge Center
Explore our verified library of Agriculture transactions. Every entry is reviewed for IFRS compliance and real-world accuracy by our technical accounting team.
Biological Asset Fair Value Increase
Adjusting the value of livestock or crops as they grow or market prices change (IAS 41).
Initial Purchase of Livestock
Recording the purchase of young animals for breeding or eventual sale.
Recognition of New Births (Progeny)
Recording the birth of calves, lambs, or chicks which increases the herd size.
Biological Growth (Physical Change)
Adjusting the value of animals as they get older, heavier, and more valuable.
Livestock Maintenance (Feed & Vet)
Recording the day-to-day costs of keeping the animals healthy.
Death of Livestock (Loss)
Removing an animal from the books due to disease or accident.
Sale of Live Animals
Recording the revenue from selling a live animal to another farmer or market.
Government Grant (Unconditional)
Recording a subsidy received from the government related to biological assets.
Planting Bearer Plants (Orchard/Vineyard)
Recording the cost of planting fruit trees or vines that will produce for many years.
Depreciation of Bearer Plants
Annual depreciation of fruit trees over their productive life.
Unharvested Crops (Standing Crops)
Recognizing the value of crops still in the field at year-end.
Harvesting Crops (Transformation)
The moment a crop is picked, it stops being a 'Biological Asset' and becomes 'Inventory'.
Land Preparation Costs
Costs for tilling, plowing, and preparing soil for a new season.
Purchase of Fertilizer/Seeds
Recording the bulk purchase of farming inputs.
Post-Harvest Spoilage (Inventory)
Recording the loss of picked produce that rotted in storage.
Shearing Sheep (Agricultural Produce)
Recording the harvest of wool from live sheep.
Livestock Slaughter (Biological to Inventory)
Moving an animal from the biological asset account to the meat inventory account.
Daily Milk Production
Recording the fair value of milk collected from dairy cows.
Sale of Harvested Produce
Recording the final sale of stored grain, wool, or milk.
Breeding & Artificial Insemination Fees
Paying for specialized breeding services to improve herd quality.
Irrigation & Water Costs
Recording the heavy utility costs for crop watering.
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