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1. Criteria of recognition

1.1. Control assets as the result of past event

1.2. Probable future economic benefit

1.3. Value/ fair value can be measured reliably.

2. Initial & subsequent measurement

2.1. Recognized at fair value less cost to sell

2.2. With the criteria that its value can be measured reliably.

2.3. Harvested products are measured at its fair value less cost to sell at the harvest point

3. Common Features

3.1. Capability to change

3.2. Management of change

3.3. Measurement of change

4. Fair values

4.1. The amount which the asset is exchangeable.

4.2. Based on present location & condition

4.3. Group according significant attributes.

5. Governed under MFRS 141 Agriculture.

6. A living plant/ animal

6.1. Doesn't apply to land

6.2. Doesn't apply to intangible assets

7. Disclosures.

7.1. Aggregate gain/loss

7.2. Description of biological asset.

7.3. Nature of activities involved.

7.4. Non-financial measure

7.5. Method & significant assumption used in the measurement of fair value

7.6. Fair value less cost to sell at the harvest point

7.7. Existence and carrying amount of the biological asset.

7.8. Amount of commitments

7.9. Financial risk management strategy

7.10. Reconciliation of changes in the carrying amount.

7.11. When fair value cannot be measured reliably :

7.11.1. Description of the biological assets

7.11.2. Explanation on why the value is not reliable

7.11.3. Range of estimate.

7.11.4. Depreciation method used.

7.11.5. Useful life / depreciation rate used.

7.11.6. Gross carrying amount & accumulated depreciation