Indian accounting standards

1. INDIAN ACCOUNTING
STANDARDS (IND AS 41)
CHRIST ACADEMY INSTITUTE FOR
ADVANCED STUDIES
NAME :- SRIKANTH M
CLASS:- 5TH SEM BCOM B SECTION
REG NO:- 20BCM082

2. OBJECTIVE
PRESCRIBED ACCOUNTING TREATMENT
SCOPE
1. Biological assets
2. Agricultural prioduce at the point of harvest
3. Government grants
The standards are not applied in some cases that are

3. Terms to be Understood:-
A) Agricultural Activity
B) Biological Transformation
C) Agricultural Produce
D) Biological Asset
E) Bearer Plant
F) Fair Value

4. Recognition of Biological Asset:-
i. Entity has Control of such Asset.
ii. It is Probable that Future Economic benefits will flow to
the Entity
iii. Fair Value or Cost can be measured reliably.

5. Disclosures:-
1) General Disclosures
2) Additional Disclosures
3) Government Grant

6. Thank
Thank
Thank
you!
you!
you!