Agricultural Accounting
Presenters : Caryn Maitland CA(SA)
Learning objectives
By the end of this event the participant should:
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Understand IAS 41 – Agriculture.
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Understand amendments to IAS 16 and IAS 41 on bearer plants.
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Be aware of the taxation effects from farning.
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Understand the Diesel Refund System.
Content
The webinar will cover the following topics:
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Introduction to IAS 41 - Agriculture;
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Scope and application of IAS 41 – Agriculture;
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Recognition and measurement of biological assets;
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Disclosure of fair value of biological assets;
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Treatment of government grants;
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Accounting for intangible assets related to agricultural activity;
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Agriculture: Bearer plants (Amendments to IAS 16 and IAS 41);
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Overview of the taxation of income from agricultural activity; the first Schedule of the Income Tax Act; and
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The Diesel Refund System:
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Who qualifies?
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How to register; and
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How the system works.
