Accounting for Biological Assets: A Comprehensive Review and Analysis

Abstract

The management and accounting for biological assets have gained increased attention in recent years due to their significant economic and environmental importance. This research article provides a comprehensive review and analysis of accounting practices for biological assets, with a focus on the agricultural and forestry sectors. The study encompasses a wide range of accounting standards and regulations, including International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP), to provide a holistic perspective on the subject.