Livestock Valuation – NBC Institute

CR – May 2019 – L3 – Q7b – Fair Value Measurement (IFRS 13)

Advise on how to measure cattle in financial statements under IAS 41.

Question

Megida Plc. has ranches across the North where its cattle are reared. The company is quoted on the Nigerian Stock Exchange under the Agricultural Sector. The Financial Controller is unclear on how to measure its cattle in the financial statement according to IAS 41.

Required:
Advise the Financial Controller on how to measure the cattle in the financial statement of Megida Plc.

Answer

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Tags: Biological Assets, Fair Value Measurement, IAS 41, Livestock Valuation
Level: Level 3

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CR – May 2019 – L3 – Q7b – Fair Value Measurement (IFRS 13)

Advise on how to measure cattle in financial statements under IAS 41.

CR – May 2019 – L3 – Q7b – Fair Value Measurement (IFRS 13)

Advise on how to measure cattle in financial statements under IAS 41.

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Question Tag: Livestock Valuation

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CR – May 2019 – L3 – Q7b – Fair Value Measurement (IFRS 13)

Advise on how to measure cattle in financial statements under IAS 41.

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CR – May 2019 – L3 – Q7b – Fair Value Measurement (IFRS 13)

Advise on how to measure cattle in financial statements under IAS 41.

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