CONTENTS

COMPILATION DETAILS

Comparison With IAS 41

Accounting Standard

AASB 141 Agriculture

Paragraphs

Objective

Application Aus1.1 – Aus1.7

Reduced Disclosure Requirements Aus1.8 – Aus1.10

Scope 1 – 4

Definitions

Agriculture-related Definitions 5 – 7

General Definitions 8

Recognition and Measurement 10 – 25

Gains and Losses 26 – 29

Inability to Measure Fair Value Reliably 30 – 33

Government Grants 34 – Aus38.1

Disclosure

General 40 – 53

Additional Disclosures for Biological Assets where Fair Value Cannot be Measured Reliably 54 – 56

Government Grants 57

Effective Date and Transition 60 – 63

DELETED IAS 41 TEXT Page 15

ILLUSTRATIVE EXAMPLES
(available on the AASB website)

BASIS FOR CONCLUSIONS ON IAS 41
(available on the AASB website)

Australian Accounting Standard AASB 141 Agriculture (as amended) is set out in paragraphs Aus1.1 – 63. All the paragraphs have equal authority. Terms defined in this Standard are in italics the first time they appear in the Standard. AASB 141 is to be read in the context of other Australian Accounting Standards, including AASB 1048 Interpretation of Standards, which identifies the Australian Accounting Interpretations. In the absence of explicit guidance, AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies.