1 This Standard shall be applied to account for the following when they relate to agricultural activity:
(a) biological assets, except for bearer plants;
(b) agricultural produce at the point of harvest; and
(c) government grants covered by paragraphs 34 and 35.
2 This Standard does not apply to:
(a) land related to agricultural activity (see IAS 16 Property, Plant and Equipment and IAS 40 Investment Property).
(b) bearer plants related to agricultural activity (see IAS 16). However, this Standard applies to the produce on those bearer plants.
(c) government grants related to bearer plants (see IAS 20 Accounting for Government Grants and Disclosure of Government Assistance).
(d) intangible assets related to agricultural activity (see IAS 38 Intangible Assets).
(e) right-of-use assets arising from a lease of land related to agricultural activity (see IFRS 16 Leases).
3 This Standard is applied to agricultural produce, which is the harvested produce of the entity’s biological assets,
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