Assignment Task
Task –This assignment requires an analysis of below accounting problems on non-current assets in Agriculture Company and a non-agricultural company. The group must analyse the relevant accounting data, apply different accounting techniques to solve the problem provide a solution in the form of a report (Word limit: 700 words)
1. What particular attributes of agricultural assets differentiate them from other assets?
2. How is a class of ‘assets” defined? Would residential land and farming land be included in the same class of assets? Explain.
3. How is the revaluation of an agricultural property treated differently from the revaluation of a non-agricultural property?
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