This Basis for Conclusions accompanies, but is not part of, IAS 41. It was prepared by the IASC Staff in 2000 but was not approved by the IASC Board. It summarises the Board's reasons for:

(a) initiating and proposing an International Accounting Standard on agriculture; and

(b) accepting or rejecting certain alternative views.

Individual Board members gave greater weight to some factors than to others.

This Basis has not been revised by the IASB and the terminology has not been amended to reflect the changes made by Improvements to IFRSs issued in May 2008.