Search Definitions

Investment property is property (land or a building—or part of a building—or both) held (by the owner or by the lessee as a right-of-use asset) to earn rentals or for capital appreciation or both, rather than for: (a) use in the production or supply of …

Owner-occupied property is property held (by the owner or by the lessee as a right-of-use asset) for use in the production or supply of goods or services or for administrative …

The following terms are used in this Standard with the meanings specified: …

Agricultural activity is the management by an entity of the biological transformation and harvest of biological assets for sale or for conversion into agricultural produce or into additional biological …

Agricultural produce is the harvested produce of the entity’s biological assets. …

A bearer plant is a living plant that: (a) is used in the production or supply of agricultural produce; (b) is expected to bear produce for more than one period; and (c) has a remote likelihood of being sold as agricultural produce, except for incidental …

A biological asset is a living animal or plant. …

Biological transformation comprises the processes of growth, degeneration, production, and procreation that cause qualitative or quantitative changes in a biological …

Costs to sell are the incremental costs directly attributable to the disposal of an asset, excluding finance costs and income taxes. …

A group of biological assets is an aggregation of similar living animals or plants. …