FAR: Biological Assets by Sir Karim Abitago (Kinaadman 3rd Installment) 

22:51 Features of Agriculture -Capability to Change 27:16 Take Note 28:00 -Management of Change 32:12 -Measurement of Change 34:41 Classification of Biological Assets 34:55 -As to Consumption 39:09 Summary "Bearer and Consumable" 41:31 -As to Maturity 43:39 Definition of Bearer Plants---TAKE note (c) 45:58 Plants with dual use 49:05 Agricultural Produce 52:10 Examples of Items Excluded and Included from the scope of PAS 41 56:49 Unconditional Government grants related to biological assets---exclusion from PAS 20 58:11 OTHER Exclusions from PAS 41 1:01:26 Recognition 1:02:37 Sample exercise-classification 1:11:44 Answer to sample exercise 1:13:21 measurement BIOLOGICAL ASSETS: GENERAL RULE INITIAL AND SUBSEQUENT: FV LESS COST TO SELL CARRYING AMOUNT-USE IF FV CANNOT BE DETERMINED RELIABLY 1:15:20 FV DEFINED -DEDUCT TRANSPORT COST IN FV AMOUNT, DO NOT ADD IT TO "COST TO SELL" HIERARCHY: (1) FV (2) TWO ACTIVE MARKETS, USE PRINCIPAL MARKET (3)MOST ADVANTAGEOUS MARKET---MARKET WITH HIGHEST FV THAT WOULD GENERATE HIGHEST NET PROCEEDS 1:19:52 measurement AGRICULTURAL PRODUCE INITIAL MEASUREMENT: FV LESS COST TO SELL SUBSEQUENT MEASUREMENT: PAS 2 OR OTHER APPLICABLE STDs (LCNRV) 1:22:04 SAMPLE EXERCISE-MEASUREMENT 1:23:40 - 1:24:27 **TRUST YOURSELF** --NOTED PO SIR 1:24:30- SOLUTION TO SAMPLE EXERCISE-MEASUREMENT 1:29:08 ENDING BALANCE COMPUTATION WITH JOURNAL ENTRIES-BIOLOGICAL ASSETS 1:34:35 CONSUMABLE BIO ASSET ACCTG -from BIO ASSET----->>AGRICULTURAL PRODUCE, G/L --usually in harvesting BEARER BIO ASSET-- results to GAIN 1:37:52 exercise 3 ending balance bio asset 1:40:43 answer to exercise 3 1:41:10 gains and losses 1:42:44 -on government grants related to bio asset only 1:45:18 Government Grant related to bio asset sample problem 1:49:56 answer to exercise 4 1:51:55 Gains and Losses in Changes in FV 1:58:23----exercise 5 changes in FV 2:03:37 ANSWER REQ A 2:07:18 ANSWER REQ B 2:07:49 PRESENTATION AND DISCLOSURE

Sobrang thank you po for this💜 napakalovely ni sir Karim magturo tawang tawa ko HAHAHA. salamat po ritooo sir😍✊

informative + funny din HAHAHHA thank you sir karim!

Oooh. Thanks po sa pag-upload ng video. Sana po pati yung video ng Business Combi (yung in partnership with Kinaadman din po) ma-upload din po dito. TYVM.

ang galing talaga ni Sir Karim!!! 😊

feeling ko nag-gaslight ko na nga talaga ang sarili ko na sobrang basic at totally no brainer nitong bio asses dahil kay Sir haha

AAAAAAAAAAA GETS KO NA PO, THANKS PO SO SO SOOO MUCH

thank you po sa pag upload and super ganda po ng discussion di nakakatamad makinig

Legit sir walang kachallenge challenge tong topic na to

Thank you po

Sir yung advertising po ba is considered as cost to sell? Salamat po, sobrang informative ng discussion niyo po.

paano po ang journal entries to recognize transactions regarding biological assets?

🥰

Andaming unnecessary adlibs na di naman relevant sa discussion. Ang cringe pa ng mga hugots 😶

@ambitious soul

Parang gusto ko mag REO after ko gumraduate. 😫🫶🏻🤧