Biological Assets and Replanting Expenditure
(i) Plantation development expenditure
New planting expenditure incurred on land clearing and upkeep of trees to maturity is capitalised as plantation development expenditure under biological assets and is not amortised.
(ii) Replanting expenditure
Replanting expenditure is charged to the income statement in the year in which the expenditure is incurred.
[...] Posted by learnaccounting on February 19, 2009 If you need sample accounting policy disclosure of biological assets and replanting expenditure please refer to:Sample Accounting Policy of Biological Assets and Replanting Expenditure [...]
Free sample fiancial reports for Biological assets under US GAAP.