MFRS 141 Agriculture applies to accountfor biological assets (except for bearerplants), agricultural produce at the point ofharvest and government grants that relatesto agricultural activity

A living animal or plant

Agricultural activity

Biological transformation

Agriculture produce (MFRS 141)

Harvest

Bearer plants (MFRS 116)

Finished Products (MFRS 102)

FV can be measured reliably

FV cannot be measured reliably

The entity controls the assets as a result ofpast events.

It is probable that future economic benefit
associated with the asset will flow to the
entity.

The fair value or cost of the asset can be measured reliably.

Based on its present location and condition.

Active market exists

No active market exists.

FV cannot be measured reliably