Our company has constructed a building which is to be our Head office. As part of improvements made on the buildings land, management decided to put up a garden with orchards and both Traditional and exotic trees. The garden is to beatify the environment as part of the environmental degradation measures and also enable the staff to go and relax. Out of the expenses so far incurred its felt we capitalize such expenses. I have gone thru the IAS 41 on agriculture where by they can be taken as biological asserts. Please can somebody guide on how they have treated such expenses.
should be treated as PPE.
Just follow IAS16 PP&E. This is not IAS41 Agriculture. You’re not going to harvest the garden I hope :-).
I work in the deferred tax area. Can you be more specific about what you’re looking for? I had previously sent out a link which has a list of the income tax disclosures (
s_12/) under IAS 12. Are you looking for something more technical around temporary differences, or specific types of deferred tax items? Feel free to email me directly and I’ll try to help if I have anything.