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Home > QFINANCE Dictionary > Definition of biological assets

Definition of

biological assets

Accounting

live animals and growing plants farm animals and plants classified as assets. International Accounting Standards require that they are recorded on balance sheets at market value. Once they have been slaughtered or harvested, the assets become agricultural produce.

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Definitions of ’biological assets’ and meaning of ’biological assets’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’biological assets’ and other financial terms with our online QFINANCE Financial Dictionary.

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