08-04-2010, 10:58 PM
Actually IAS 41. Summary here http//www.iasplus.com/standard/ias41.htm
If I'm interpreting it correctly since I have a product that is harvestable over a large span of time, I would calculate it's FMV at the time of the inventory, and use an industry average for cost of sale, and a reasonable figure for maintenance for the time to dispose.
If I'm interpreting it correctly since I have a product that is harvestable over a large span of time, I would calculate it's FMV at the time of the inventory, and use an industry average for cost of sale, and a reasonable figure for maintenance for the time to dispose.
