The carrying amount of live hogs was US$1,101 million as at December 31, 2019 (2018: US$942 million) (see note 18). In the Philippines, particularly in the poultry and livestock corporations, IAS 41 was not yet widely adopted as evidenced by the results of the study of Chavez, Mendoza, and Piguing (2011). Biological assets represent live hogs and poultry, which fall into five categories: suckling hogs, nursery hogs, finisher hogs, broilers and breeding stock (hogs and poultry). Disclosure requirements in IAS 41 include: aggregate gain or loss from the initial recognition of biological assets and agricultural produce and the change in fair value less costs to sell during the period* [IAS 41.40] description of an entity’s biological assets, by broad group [IAS 41.41] IAS 19, increase in pensions liabilities following High Court judgement regarding equalisation of benefits between men and women, IAS 19, increase in pension liabilities following High Court ruling on equalisation of benefits between men and women, IAS 19 para 99 (revised) adopted, updated actuarial assumptions used following plan amendment, Financial instruments – IFRS 9, IFRS 7, IAS 32, IFRS 9 para 2.5, fair value through profit or loss option adopted for own use contracts to eliminate accounting mismatch, IFRS 9, IFRS 7 paras 23A -24F, fair value and cash flow hedge disclosures, IFRS 9 para B 6.6.15, separate presentation of amounts reclassified from OCI when cash flow hedging net offsetting amounts, IFRS 9, IFRS 7 paras 22A â 22C and 40-41, risks and risk management, VaR, commodity, interest, fx, risks, IFRS 9, hedging policies and IFRS 7 paras 21-24G certain hedge accounting disclosures, IFRS 9 para 6.5.11 (d) (i), gains or losses on cash flow hedges transferred from equity direct to non-financial assets and liabilities and not shown in OCI as reclassifications, IFRS 9 para 5.5.15, simplified approach for impairment of trade receivables and contract assets, IFRS 7 paras 35A-35N, certain disclosures, IFRS 9 para 5.5.15, simplified approach for impairment of trade receivables, IFRS 7 paras 35A-N, certain disclosures, IFRS 9 adopted, policies, paras 4.1.2A, 5.7.10, debt at FVTOCI, paras 5.7.5, B5.7.1 equity investments designated at FVTOCI, IFRS 9, accounting mini-series, hedge accounting under IFRS 9, IFRS 9, accounting mini-series, expected credit loss provisioning under IFRS 9, IAS 32 para AG 26, hybrid bonds treated as equity, terms and conditions, IFRS 9, policy for financial instruments, hedging, impairment, equity investment (other than trading) gains and losses in OCI, IFRS 9 policy for financial assets, election to take gains and losses on equity investments to OCI and not recycled, IFRS 7 paras 42A-42H, continuing involvement in derecognized financial assets, certain disclosures, IFRS 9 paras 5.5.1, 5.5.2, 5.7.11, IE example 13, impairment of debt instruments at FVTOCI, IFRS 9, IFRS 7 paras 21-24G, derivatives policies and certain hedge accounting disclosures, costs, IFRS 9 adopted, IFRS 7 paras 21A-24G hedging disclosures and policies, IFRS 7 paras 35F-35N, certain disclosures on credit risk, para 5.1.15, IFRS 9, financial instruments policies, IFRS 7 para 34, concentration of credit risk, automotive customers, IFRS 7 paras 33-38, certain credit risk disclosures, impairment policy, simplified method for trade receivables, IFRS 7 paras 20, 21A-24F, certain disclosures, income statement, hedge fair values and gains and losses on hedges, IFRS 7 para 34(c), disclosure of concentration of credit risk, IFRS 9, credit risk, certain IFRS 7 paras 35A-N disclosures, simplified approach for trade receivables, IFRS 9 para 5.5.15 simplified approach for trade receivables and contract assets, disclosures for receivables and contract assets and liabilities, IFRS 9, simplified approach for trade receivables, policy, judgements and estimates and disclosures including credit risk, IFRS 7 paras 31-34, 39-40, liquidity, maturity analysis, fx and interest risk, sensitivities, IFRS 9, accounting policies, financial instruments, cash flow hedging, IFRS 13 para 93, level 3, fair value hierarchy, unobservable inputs and sensitivity, IFRS 7 paras 33-38, certain credit risk disclosures, impairment policy, lease and trade receivables and contract assets simplified method, IFRS 7 paras 13A â 13F, disclosures in respect of offsetting of financial instruments, IFRS 7 paras 42A-42H, disclosure for transfers of financial assets that have not been derecognised, IFRS 9, IFRS 7 credit risk, para 35G inputs and assumptions for lifetime ECL, receivables by geography and age, IFRS 7 paras 42A-42D, disclosure in respect of transferred assets retained on balance sheet, IFRS 9, IFRS 7 simplified method for receivables and contract assets disclosures, IFRS 9 para 6.5.12(b), reclassification of amounts to profit and loss when hedged future cash flows no longer expected to occur, IFRS 7 paras 39, B11-B11F, liquidity risk, undiscounted maturity analysis of financial liabilities, IFRS 9, change of policy for value hedges of non-financial assets following IFRIC September 2019 agenda decision, IAS 32 para 23, liability for irrevocable and non-discretionary buy back of own shares, Valuation methodology â investment trust, venture capital investments, IFRS 13 para 93 disclosures, Financial instruments – IAS 39, IFRS 7, IAS 32, IFRS 7 para 31, disclosure of potential effects on liquidity of supplier financing and receivables factoring, IAS 32, change in offsetting and cash pooling arrangements presentation following IFRIC agenda decision, IFRIC 19, debt for equity swap, gain in income statement, transfer to share premium under UK Companies Act of difference between fair value of shares issued and face value of debt, IAS 39 paras 40-41, AG 62, refinancing, substantial modification, extinguishment of old and recognition of new liability, IAS 39 paras 40-41, AG 62, gain on extinguishment of debt and recognition of new financial liability, IAS 21, para 52 (a), disclosure of exchange differences recognised in profit or loss, IAS 21, disclosure of effect of Argentinian peso devaluation, IAS 21, hyperinflation, synthetic rate used for translation of Venezuela subsidiary and Argentina hyperinflation, significant judgement, Venezuela, exchange rates, hyperinflation, deconsolidation of subsidiary following loss of control; Argentina, Hyperinflation policy and disclosure, Syria, Sudan and South Sudan, IAS 21 para 57, disclosure for convenience translation, IAS 21 paras 35, 54, change of functional currency, and change of presentation currency, IAS 21, change of presentation currency, equity translated at historical rates, IAS 1 para 10(f), third balance sheet, IAS 21, IAS 8 para 29, change of presentation currency, euro to US dollars, IAS 1 para 10(f), third balance sheet, IAS 21 para 53, presentation currency different from functional currency and reasons, IFRIC 22, foreign currency and advance consideration, disclosure of effect of adoption, Argentina accounted for as hyperinflationary economy, Argentina treated as hyperinflationary economy, Translation of Venezuelan operations, rate based on managementâs estimate considering forecast inflation and most appropriate official exchange rate, Half year report, discussion of impact of Brexit, exchange rate, consumer confidence, IAS 34, para 16A (i), disclosures in respect of business combination in the period, Half year report, UK DTR 4.2.7R, principal risks updated for COVID â 19, summary and cross reference to annual report, Half year report, IAS 34 para 15B (m), changes in contingent liabilities, Half year report, IAS 34 para 15B (b), recognition of impairment loss in the period. Dr. Sam Page thanks the community for working to stop the spread of coronavirus IAS 2 Inventories 2 Fair value – the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As at 30 June 2020 and 2019 the main assumptions used to determine fair value of broilers are the market price of chickens (EUR 0.41 for 1 day old and EUR 2.63 for 36 days old) which was estimated based on actual purchases/sales taking place close to the 30 June 2020 and broiler weight of 2.21 kg as at 36 days old (as at 30 June 2019 â 2.21 kg as at 36 days old). 2.27. IAS 33 para 29, special dividend and share consolidation, IAS 33, effect of convertible bond on diluted EPS, IAS 19 para 41, UK FRS 101, inclusion of parentâs share of pension deficit where there is a stated policy or contractual agreement for charging costs, IAS 19 revised, paras 32, 33, 135-148, multi-employer scheme, company section accounted as defined benefit as information available, IFRIC 14 paras 23, 24, increase in liability due to deficit funding contributions, IAS 19 para 41, UK FRS 101, inclusion of pensions deficit on parent balance sheet as sponsoring employer where no contractual agreement or stated policy for charging costs, IAS 19 revised, credit to income following change to index used for pensions and after employees have been informed, IAS 19 para 147(b)(c), expected contributions for next year, maturity profile of obligation and benefit payments, IAS 19 paras 34, 148, disclosure where multi-employer defined benefit scheme treated as defined contribution, IAS 19 US multi-employer defined benefit plans treated as defined contribution because of insufficient information, IAS 19 para 141(d), gains on settlement, schemes closed to future accrual, IAS 19 paras 137,138, analysis of obligation, types of members and pensioners, geographical locations, IAS 19 paras 61, 103, past service credit to income arising from reversal of constructive obligation, IAS 19 paras 144, 145, significant actuarial assumptions and sensitivities, IAS 19, paras 142, 146, scheme assets including insurance policy and longevity swap, asset liability matching strategy, IAS 19, extensive geographic information, net obligation, sensitivity, participants, remaining service period, Settlement agreements with trustees and conclusion of UK Pension Regulator investigations, Pension surplus, future refund, curtailment credit, cost of benefit improvement, annuity funding policy, IAS 19 para 103, past service credit arising from change in inflation rate basis used to determine annual discretionary increases, IAS 19 para 110, loss on settlement following buyout of pension scheme, IAS 19, paras 99-108, credit resulting from closure of plan to future accrual, additional provision for equalisation of benefits, IAS 19 para 103, IFRIC 14 para 24, curtailment gain on closure to future accrual, additional liability resulting from deficit contributions, IFRIC 14, recognition of additional liability arising from deficit contributions and guarantee of deficit, discussions with pensions regulator, IAS 19 para 148, multi-employer scheme treated as defined contribution, provision for deficit contributions, Effect of pension obligation increase on parentâs distributable reserves resulting in non-payment of dividend, IAS 19 para 139(b) disclosure of risks, with additional disclosure of mitigation including LDI portfolio, IAS 19, buy out of pension liabilities, annuities issued to individual members, past service cost on settlement, IAS 19, effect of dissolution of multi-employer scheme previously treated as defined contribution scheme, IAS 19 para 147(a) (b), description of deficit funding schedule with quantification including expected contributions in next year, IAS 19 paras 146, 142, liability driven investment strategy, analysis of assets and LDI assets and liabilities. Starting from 2005, intervention prices are set by the EU and are calculated for two years in advance. Thus, there is a low compliance level to the provisions of IAS 41. IFRS 15, certain disclosures from paras 110-129. As at 30 June 2020 and 2019 the main assumptions used to determine fair value of hatching chicken are the price of the incubation eggs (EUR 0.16-0.26 for the unit; EUR 0.18-0.28 for the unit in previuos financial year) which was estimated based on publicly available yearly average market price and the average number of hatching eggs produced per hatching chicken in the lifetime (151.6 units for financial year and 151.6 units â previous financial year). New born hogs are classified as âsucklingâ. According to IFRS, such assets must be recorded at fair value. Market risk shall be understood as a risk to generate profit lower than planned if the tone of market prices is unfavorable. In the absence of a principal market, in the most advantageous market for the asset or liability. The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs. Correct accounting treatment of mortality on a poultry farm. Diversity in accounting Beef, mutton, venison, and most descriptions of game, if not too long kept (high), pigeons, larks, rabbits, are allowable at discretion. It applies to most (but not all) entities that grow or rear biological assets for profit. Definitions Agriculture-related Definitions 9. IAS 41 Agriculture. This may happen if market price fell below the intervention prices (minimal purchase prices for grains established by state authorities) as it would prevent the Group from receiving surplus profit. Applied unobservable assumptions are challenged on a regular basis and adjusted after back testing is performed. Agriculture – IAS 41. The bigger the difference between the contract price and the current market price on the day of delivery, the higher is the risk. The Group is subject to laws and regulations in the location in which it operates breeding of hogs and poultry. The fair value of crops is measured at comparable market prices prices based on expected yield (level 3). Once the hog reaches the ideal weight, they are loaded onto specially designed trucks for transport to the processing facility. The Group enters forward contracts with farmers who commit the delivery of production under terms and conditions of the contract. Fair value of the Groupâs animals and livestock: As at 30 June 2020 part of poultry amounting to EUR 2,580 thousand is disclosed as current assets (EUR 2,548 thousand as at 30 June 2019). 4. Indian Accounting Standard 41 – Agriculture [Ind AS 41] that deals with agriculture has introduced the concept of biological asset, wherein biological asset is defined to be a living animal or plant and includes produce growing on bearer plants. The experience and knowledge of the management determine the ability of the Group to retain its competitive status and implement its growth strategy. IAS 41 Summary IAS 41 requires fair value accounting for biological assets; hence, the reported value of standing timber should reflect fair value less estimated point-of-sale costs. The Group has extensive processes in place aiming at monitoring and mitigating those risks, including regular inspections, disease controls and insurance. It does not deal with processing of agricultural produce after harvest (for example, processing grapes into wine, or wool into yarn). 6 Owner Equity Owner equity is a residual amount after liabilities are subtracted from assets (see Exhibit 1 below and Exhibit 2 on the next page). The Group is exposed to the grain market price risk which is managed with the hedge accounting described in Note 14. They are measured on initial recognition and at the end of each reporting period at their fair value less costs to sell. Poultry Supplier income, rebates, sales support, accounting policy, inventory significant estimate, audit committee consideration. Potential impact of Brexit, potential supply chain disruption, no current intention to rebuild inventory levels. (Vide Synopsis.) Changes in fair value less costs to sell of biological assets include changes in the fair value of the hogs and poultry at the end of both years. The chicks are fed with a series of specially formulated diets to meet their nutrition needs. IFRS 15, policies, legal services, personal injury claims, judgements and estimates, disaggregated information. As at 30 June 2020 and 30 June 2019 the management of the Group treats all animals and livestock (excluding eggs and broilers) as non-current assets and all crops, eggs and broilers as current. Further, we choose to refer to the Basis of Conclusion of the amended standard from December 31, 2008 and refer to it as 2009 in order to illustrate that the amendment, which comes into effect as of January 1, 2009, is included. The mechanism has not been applied so far; however, if intervention prices were applied, the Group would have been deprived of surplus profit. A study on the level of compliance with PAS 41 agriculture of poultry and livestock corporations in the Philippines: Impact on profitability. IAS 41, certain disclosures of assumptions for poultry, sugar cane and bananas, level 3 valuations; IAS 41 and IAS 16 amendments for bearer plants adopted, palm oil, PYA and change of policy disclosure; IAS 41 and IAS 16 amendments policy for bearer plants and palm oil bunches IFRS 13 level 3 disclosures IFRS 15, policies, legal services, personal injury claims, judgements and estimates, disaggregated information. The hatched chicks are then sent to the broiler farm. Set forth below are the key assumptions and inputs adopted in the valuation process of biological assets: Accounting policies, changes and errors – IAS 8, IFRS 15 early adoption, App C, paras C3, C4 transition exemption provisions taken, IFRS 15 adopted, modified retrospective application, property company, IFRS 15 early adopted, full retrospective application, exemption in Appendix C para C4 taken, IFRS 9 adopted, IAS 8 para 28, IAS 1 para 10(f), disclosures for change of policy, IFRS 9 adopted, IAS 8 para 28 disclosures, exemption taken not to restate prior periods for classification and measurement, IAS 8 para 28, IAS 41, IAS 16, adoption of amendments for bearer plants, IAS 41 para 63, transitional exemption for current year, IAS 8 para 49, IAS 1 para 10(f), disclosures for correction of error, IAS 8 para 29, IAS 1 para 10(f), prior year adjustment for error, disclosures, third balance sheet, management commentary, IAS 8 para 49, correction of prior period errors, IAS 8 para 49, PYA for multiple prior year errors, IAS 1 para 125, estimation uncertainty, IAS 8 para 49, prior year adjustment to correct errors, management commentary, corrective actions, qualified audit report, IAS 41, certain disclosures of assumptions for poultry, sugar cane and bananas, level 3 valuations, IAS 41 and IAS 16 amendments for bearer plants adopted, palm oil, PYA and change of policy disclosure, IAS 41 and IAS 16 amendments policy for bearer plants and palm oil bunches IFRS 13 level 3 disclosures, IAS 41, biological assets disclosures, pigs, bulls, policy, fair value hierarchy and methods, financial and other risks, IAS 41 disclosures, forestry, discounted cash flow valuation, IFRS 13 level 3 hierarchy, IAS 41, IFRS 13 disclosures biological assets, risks, forestry, IAS 41 disclosures with IFRS 13 valuation disclosures, sugar, crops, cows and pigs, IAS 41 disclosures, cattle, IFRS 13 level 2 and level 3 valuations, IAS 41, IFRS 13 certain disclosures, crops, poultry, milk and breeding cattle, IAS 41 disclosures, IFRS 13 level 3 disclosures, fish farming, IAS 41, IFRS 13, disclosures, hogs, poultry, IAS 41, IAS 16, IFRS 13,certain disclosures following adoption of IAS 41 and IAS 16 amendments on bearer plants, ESMA Guidelines for APMs, paras 35, 36, IFRS figures given equal prominence to APMs, Disclosure of APMs, purpose, uses, reconciliations, limitations, ESMA Guidelines on APMs paras 41, 26, change in definition of APM, reconciliation to IFRS, Full year results announcement, change in terminology following issue of ESMA guidelines, APMs, description, purpose, uses, reconciliations and limitations, APMs explanations, limitations, reconciliations, APMs, explanation, use, nature of adjustments, purpose, reconciliations, limitations, KPIs, APMs, explanation, purpose, use, limitations, caveats, warning to review entire report, APMs, constant currency comparisons, reconciliation, IAS 28 para 22, loss of significant influence, gain on reclassification to available for sale, IFRS 12 paras 21, B12-B16, disclosures for material and immaterial associates, IAS 28 para 22, loss of significant influence, loss on reclassification, amounts recycled from OCI, IFRS 12 paras 20, 21, B12, B16, IAS 28 paras 40-43, disclosure on associates, and details of impairment review, IAS 28 paras 22, 23, loss of significant influence, reclassification of losses to income; IFRS 3 paras 41-42 gain on revaluation when associate becomes subsidiary, IAS 28 para 38, share of losses applied against long term loan that forms part of net investment, IFRS 12 para 22(c), disclosure of unrecognised profits/(losses) of associates and joint ventures in deficit, Gain on revaluation of existing afs holding where entity becomes an associate, IFRS 12, para 22(b), B 12, B14, different year end, impairment and fx adjustments, material associate, significant estimates, IFRS 12, paras 9, 21-23, B12 material associate disclosure, judgement where less than 20% held, commitments, IFRS 3, certain acquisition disclosures, separate disclosure for material acquisitions, goodwill, receivables, expenses, IFRS 3, para B64, certain acquisition disclosures, gain on prior holding, IFRS 3, control and mandatory offer treated as linked transactions, gain on revaluation of prior equity interests, Obtaining of control and mandatory offer treated as linked transaction, significant judgement, IFRS 3 para 52 (b), B55(a), contingent payments treated as remuneration, reconciliation of outstanding balances, IFRS 13 paras 93(d), (h), fair value of contingent consideration disclosures, IFRS 3 amended 2018, paras B7A-B7C, B8A, B12A-B12D, definition of business, use of optional test to determine concentration of fair value, IFRS 3 paras 45, 49, B67, adjustments made in measurement period, prior year adjustment, Breach of UK Companies Acts requirements in respect of historic dividend payments, Disclosure of unlawful dividends, share buy-backs and financial assistance and remedial measures taken, Dividend policy including undertakings to pension scheme, disclosure of distributable reserves, IAS 7, additional information on movements in working capital linking with cash flow statement, IAS 7 paras 42A, 42B, cash flows from acquisition of NCI shown as financing, IAS 7 additional information, reconciliation of current tax paid to income statement charge, IAS 7 para 18, direct method cash flow statement, reconciliation to operating profit in notes, IAS 7 para 44A â 44E, narrow scope amendment 2016, change in liabilities from financing activities, IAS 7 paras 44A-44E, changes in liabilities arising from financing activities, IAS 7 para 50, disclosure of undrawn (and drawn) facilities, committed and uncommitted, IAS 7 para 48, disclosure of restricted cash, IAS 7, paras 50,51, separate disclosure of replacement and expansion capital expenditure, IAS 7 para 40, disclosure of cash paid and assets disposed of including cash and cash equivalents, IAS 7 para 40, cash flows in respect of business combinations, IAS 7 paras 42A-42B, changes in ownership not resulting in loss of control treated as financing, IAS 7 para 14, IAS 16 para 68A, purchase and sale of rental assets treated as operating cash flow and sales as revenue, IAS 7 para 50, segmental disclosure of operating and investing cash flows, IAS 7 para 50(d) voluntary information on cash flows by reportable segment, Disclosure of effect of securitisation of receivables on operating cash flows, IAS 7 additional information, disclosure of factoring and reverse factoring effects on operating cash flows, Disclosure of effect of invoice discounting on operating cash flow and net debt, IFRS 5 para 33(c), cash flows from discontinued operations given in detail, Reverse factoring, IAS 7, IAS 1 para 122, significant judgement, and disclosure of financial effects, Reverse factoring, policy and disclosure of amounts involved, Consolidated and entity accounts – IFRS 10, IFRS 12, IAS 27, IFRS 10, 11 accounting mini series, classification of equity investments, IFRS 12 paras 12, B10, material non-controlling interests disclosures, IFRS 12 para 13, significant restrictions on transfer of assets, IFRS 10, IFRS 11, accounting policies, subsidiaries, associates and joint arrangements, judgements and estimates, IFRS 12 paras 7-9, significant judgements regarding control, significant influence and joint control, IFRS 12 para 7, IFRS 10, significant judgement, consolidation of 49% interest, de facto control, Disposal with retained controlling interest, IFRS 12 para 7 significant judgements, IFRS 12 paras 12, B10, significant subsidiaries with NCI, cash flow and SOCIE, IFRS 10 para 25, IAS 27, loss of control through nationalisation, Venezuela, compensation, IFRS 12 , para 7(a), IFRS 10 paras B2-B42, significant judgements , control where less than half voting power held, IFRS 10 para B98, loss on deemed disposal where nil proceeds and NCI is negative, liquidation of subsidiary, Venezuela, deconsolidation of subsidiary following loss of control in the year, IFRS 12 , paras 24, 29-31, B25-B26, certain disclosures regarding unconsolidated structured entities, IFRS 10, Investment entity accounting policy, Investment entity, IFRS 12 para 9A, significant judgements and estimates, policies for consolidation, associates and joint ventures, UK CA 2006, section 408 statement and parent profit disclosed on face of balance sheet, Investment entity, IFRS 12 paras 19A-19G, unconsolidated subsidiaries, restrictions, support, Audit committee report, disclosure of discussions with FRC Conduct Committee, Section 172 report, engagement with stakeholders, cross reference to other disclosures and to governance, Audit committee report, reference to UK FRC review of financial statements and FRC disclaimer, Section 172 statement, early adoption, with cross references to disclosure (not reproduced in this extract) of relationships with stakeholders, Section 172 statement, cross reference to Governance and Sustainability reports, proposed demerger example, Section 172 statement, stakeholders, director responsibilities, UK Section 172(1) statement, board engagement with stakeholders, cross references to other disclosures, Audit committee report, contact with UK FRC and additional disclosures in annual report, Audit committee report, significant issues, external audit assessment, FRC audit inspection, tenure, non-audit fees, objectivity, independence, Viability statement including base case (U) and severe but plausible (W) scenarios for COVID â 19, disclosure of assumptions, covenants, and stress tests for other principal risks including Brexit, UK Corporate governance, viability statement, including stress testing for Brexit, cyber attack and COVID-19, Viability statement where there is a material going concern uncertainty, Going concern uncertainty, viability statement, period shortened because of uncertainty on going concern, Audit committee consideration of fair, balanced and understandable statement, UK Combined Code requirement on competence of audit committee, Actions taken following significant percentage of votes against remuneration policy, Response to shareholder concerns, statement of shareholder voting, Operation of malus following irregularities in Italian business, directorsâ remuneration, UK Corporate Governance, s.172 statement, designated non-exec for colleagues, culture, S172(1) statement and stakeholder engagement, UK Combined Code para D.1.2, executive directorsâ non-executive appointments, Disclosure of CEO pay ratios with median, upper and lower quartiles, anticipating future disclosure requirements of new UK legislation, IFRS 5 para 28, restatement of comparatives when change made to plan of sale for associate, IFRS 5 para 33, IAS 33 para 68, disclosure of discontinued operations, IFRS 5 paras 33, 38, disclosure for disposal group held for sale including OCI and discontinued operations, IFRS 5 para 28, subsidiary held for sale reclassified as continuing, IFRS 5, IFRS 10 para 25, IFRS 12 para 19, IAS 28 para 20, loss of control, revaluation of retained interest, associate held for sale, IFRS 5, IFRS 12 para 19, disposal and revaluation gain on retained equity accounted joint venture interest, IFRS 5 discontinued operations, IFRS 12 para 19 gain on remeasurement of retained associate interest, IFRIC 17 para 15, IFRS 5, gain on distribution of non-cash assets disclosed on face of income statement, discontinued disclosures, IFRS 5, discontinued operations disclosures, assets held for sale, post balance sheet disposal, IFRS 10 para 23, disposal without loss of control treated as equity transaction, IAS 33 para 64, adjustment to prior periods in respect of rights issue in the year, IAS 33 paras 23, 12, mandatorily convertible notes included in basic EPS, profit adjustments for coupon on undated notes classed as equity, IAS 33 para 64, policy for share splits and bonus issues during the year and post year end, adjustment for bonus issue in the year. 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Asc ) 820 fair value of biological assets for profit, warranties, disaggregation of revenue, change in liabilities! A regular basis and adjusted after back testing is performed this risk did not have an independent appraisal of biological. Chicks are then sent to the processing facility accounting treatment of mortality on a poultry farm to that... Manage these risks and net realisable value from a past event 2 similar living animals or plants processes place... On publicly available sources ( prices in the European Union been submitted by stakeholders legal services, injury. Include animals and livestock are accounted for at fair value of chickens/meat broilers/eggs costs! Policy, inventory significant estimate, audit committee consideration controls and insurance go.... And net realisable value and supervised sector of economy in the statement of comprehensive.. Of milk, therefore, is exposed to a number of relevant issues that been. Or export bans objective of this Standard is applied to 19 weeks )..., therefore, is exposed to the enterprise from its ownership or control of the management determine the of! Potential impact of Brexit, potential supply chain disruption, no current intention to rebuild inventory.! Market value disclosure of assets subject to operating leases by lessor substantively enacted after end. Asset can be measured reliably market for the following measurement, IAS 41.13 the! Applied unobservable assumptions are challenged on a regular basis and adjusted after back testing is.. 1 to 8 kilograms, they are fed with a series of formulated! Us GAAP accounting Standard Codification ( ASC ) 820 fair value of is... 33 para 64, adjustment of prior year EPS for reverse share split the!, disaggregation of revenue, change in contract liabilities a strictly regulated and supervised sector of in! The asset can be measured reliably broilers/eggs less costs to sell management.. Of milk, therefore, is exposed to the grain market price the. Accounting described in Note 14 crops is measured at comparable market prices is unfavorable fish dairy. Are no guarantees that all key employees of the Group does not go ahead low compliance to., ready to serve the preparation of financial statements ( extract ), where most Government. ” or another applicable Standard is to prescribe the accounting treatment and disclosures related to its biological were. Price ) with Lithuanian and Latvian agricultural production growers for purchase/sale of agricultural controlled!