Biological assets examples

Below you will find a series of examples corresponding to biological assets.

An asset with these characteristics is a living animal or a plant.

An entity must measure agricultural produce harvested from an entity’s biological assets at its fair value, less costs to sell at the point of harvest.

After this point, such measurement will be the asset’s cost and will be necessary to apply IAS 2 Inventories.

The following list shows some examples that are considered biological assets.

  • Sheep
  • Trees in a timber plantation
  • Dairy cattle
  • Pigs
  • Cotton plants
  • Cotton plants
  • Tobacco plants
  • Tea bushes
  • Grape vines
  • Fruit trees
  • Oil palms
  • Rubber trees