ABSTRACT
This conclusion presents some closing thoughts on the concepts discussed in preceding chapter of this book. The book provides important contributions to literature on biological assets under International Accounting Standard (IAS) 41. There is usually an available market price for consumable biological assets and these biological assets are usually sold in the short term. Therefore, investors value recognised, consumable biological assets, but independently from the corresponding disclosure level. The empirical evidence in the book provides the recent amendments of IAS 41, especially the different models applied to consumable and bearer biological assets. The impact of environmental regulations at the country level could be analysed in terms of how it influences the firms' incentives to disclose information and to adopt fair value with respect to IAS 41. With regard to the value relevance of biological assets, further research could replicate this analysis to ascertain whether the results hold consistently across additional countries that adopted International Financial Reporting Standards (IFRS).
