Reconocimiento de los activos biológicos y su respectiva medición según las normas internacionales de información financiera

Abstract

This document aims to reflect on the changes derived from the implementation of IAS 41 in the agricultural sector. Through this standard, we hope to disclose all its coverage and the most important aspects of IAS 41 and its impact on the agricultural sector. The process is also intended to be carried out primarily in Colombia. Therefore, it can be concluded that the implementation of IAS-IFRS has many complications in its application, because many companies belonging to the agricultural sector follow the accounting procedures of local regulations: COLGAP (Generally Accepted Accounting Principles, Decree No. 2649/93), I even understand that the International Financial Reporting Standards have come into force. However, they must explain this recognition and measurement in accordance with the International Financial Reporting Standards for the agricultural sector of IAS 41. There is no doubt that the standard seeks to improve the way in which all these assets are used. In view of the above, the approach of this article was based on three fundamental pillars: recognition, measurement and interpretation of the standard to determine its favorable or unfavorable condition with respect to the application of the standard.