Agriculture
Harvesting Crops (Transformation)
The moment a crop is picked, it stops being a 'Biological Asset' and becomes 'Inventory'.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Inventory (Harvested Produce) | Asset (+) | 5,000.00 | - |
| Biological Assets (Crops) | Asset (-) | - | 5,000.00 |
💡 Accountant's Note
At the point of harvest, the produce is measured at Fair Value. This value becomes the 'Cost' for the inventory account going forward.
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