The International Accounting Standards Board issued amendments to IAS 16, Property, Plant and Equipments, alongwith the amendments to IAS 41, Agriculture. The amendments to IAS 41 scopes out the Bearer Plants from IAS 41 and scope in the same to IAS 16, Property, Plant and Equipments. The Accounting Standards Board finalised the Exposure Draft of Ind AS 41, Agriculture on the lines of revise IAS 41. Accordingly, the Accounting Standards Board also considered and finalised the Exposure Draft of amendments to Ind AS 16 corresponding to amendments to IAS 16 Agriculture:  Bearer Plants issued by the IASB. 

Following is the Exposure Draft of Agriculture: Bearer Plants (Amendments to Ind AS 16) issued by the Accounting Standards Board of The Institute of Chartered Accountants of India, for comments. The Board invites comments on any specific aspect of the Exposure Draft. Comments are most helpful if they indicate the specific paragraph or group of paragraphs to which they relate, contain a clear rationale and, where applicable, provide a suggestion for alternative wording.

How to comment

Comments should be submitted using one of the following methods:

1.       Electronically:         Click on the below mentioned option to submit comment online or Visit at the following link

                                            http://www.icai.org/comments/asb/  

1.       Email:                     comments can be sent to: commentsasb@icai.in

1.       Postal:                   Secretary, Accounting Standards Board,

                                             The Institute of Chartered Accountants of India,

                                            ICAI Bhawan, Post Box No. 7100,

                                            Indraprastha Marg, New Delhi 110 002

Further clarifications on this standard amendment may be sought by e-mail to achin.poddar@icai.in