The following document includes as its main point the treatment of biological assets, which are live animals and live plants, focusing on the cultivation of oranges, a very important activity in the Valencian Community. Biological assets are regulated by the International Accounting Standards in its Rule 41, known as IAS 41 Agriculture, or NIC 41 in Spain. This standard regulates the agricultural activity for groups of companies in this sector, who present consolidated annual accounts and are listed in the European market. In addition, the main differences between this standard and Spanish regulations are discussed. This report concludes with a few examples regarding the valuation of biological assets and the treatment of crops in the process of a typical but fictitious orange production company.

Treball Final de Grau en Finances i Comptabilitat. Codi: FC1049. Curs acadèmic: 2016/2017