{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/360/905/#25-recognition","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"360","topic_title":"Property, Plant, and Equipment","subtopic":"360-905","subtopic_title":"Agriculture","section":{"number":"25","label":"25 Recognition","anchor":"25-recognition","is_sec":false,"groups":[{"block":null,"heading":"Permanent Land Development Costs","paragraphs":[{"citation":"360-905-25-1","para":"25-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_15009021-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"><a href=\"/glossary/p/#permanent-land-development-costs\" class=\"term\" title=\"See Land Development Costs.\"><span>Permanent land development costs</span></a> shall be capitalized. </span></span></div></div>","snippet":"Permanent land development costs shall be capitalized.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0c5d4b94f88804e1dbef1460952a5952d20efcd03d83a25ccb08f8487b186f77","downloaded_from":"2026-09-10T00:07:17.458Z","last_downloaded_at":"2026-09-10T00:07:17.458Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478704","source_sha256":"94ffdece0185e2f6c03158061861fb7e35e03ff9195c242525218598372fd91d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2cc69ce99cff22526b58dab49d2180b7baa6e00c69cff829838172aec1679ab1","downloaded_from":"2026-09-10T00:07:17.458Z","last_downloaded_at":"2026-09-10T00:07:17.458Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478704","source_sha256":"94ffdece0185e2f6c03158061861fb7e35e03ff9195c242525218598372fd91d"}},{"block":null,"heading":"Trees and Vines","paragraphs":[{"citation":"360-905-25-2","para":"25-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_1500911C-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Trees and vines may be planted and brought to production by the producer or on a contract basis. The young trees and vines are usually purchased as nursery stock and transplanted into the <a href=\"/glossary/o/#orchard\" class=\"term\" title=\"Fruit trees planted in geometric patterns to economically facilitate care of the trees and harvest of the fruit. See also Grove.\"><span>orchard</span></a> or vineyard in the desired pattern. Cultural costs during the development period, including stakes and wires, grafting, and labor for pruning and forming, shall be capitalized. Net proceeds from sales of products before <a href=\"/glossary/c/#commercial-production\" class=\"term\" title=\"The point at which production from an orchard, vineyard, or grove first reaches a level that makes operations economically feasible, based on prices normally expected to prevail.\"><span>commercial production</span></a> begins shall be applied to the capitalized cost of the plants, trees, or vines. </span></span></div></div>","snippet":"Trees and vines may be planted and brought to production by the producer or on a contract basis. The young trees and vines are usually purchased as nursery stock and transplanted into the orchard or vineyard in the desir…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:eb3427dff550e97f7df989ccca1ea2285effc9c7d1230c4fced29de64d54b274","downloaded_from":"2026-09-10T00:07:17.458Z","last_downloaded_at":"2026-09-10T00:07:17.458Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478704","source_sha256":"94ffdece0185e2f6c03158061861fb7e35e03ff9195c242525218598372fd91d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8c743f6525c058e0df592926ab6b5b441c3064cbd1b469df58b8528722d50b33","downloaded_from":"2026-09-10T00:07:17.458Z","last_downloaded_at":"2026-09-10T00:07:17.458Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478704","source_sha256":"94ffdece0185e2f6c03158061861fb7e35e03ff9195c242525218598372fd91d"}},{"block":null,"heading":"Development Costs of Land, Orchards, Groves, Vineyards, and Intermediate-Life Plants","paragraphs":[{"citation":"360-905-25-3","para":"25-3","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_1500920A-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"><a href=\"/glossary/l/#limited-life-land-development-costs\" class=\"term\" title=\"See Land Development Costs.\"><span>Limited-life land development costs</span></a> and direct and indirect development costs of orchards, groves, <a href=\"/glossary/v/#vineyards\" class=\"term\" title=\"Grapevines planted in patterns for commercial cultivation and production.\"><span>vineyards</span></a>, and <a href=\"/glossary/i/#intermediate-life-plants\" class=\"term\" title=\"Intermediate-life plants have growth and production cycles of more than one year but less than those of trees and vines.\"><span>intermediate-life plants</span></a> shall be capitalized during the development period. </span></span></div></div>","snippet":"Limited-life land development costs and direct and indirect development costs of orchards, groves, vineyards, and intermediate-life plants shall be capitalized during the development period.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0890bd3acb51191a61a06cfd866b691c5d125b98e08752981540d2cbc687637a","downloaded_from":"2026-09-10T00:07:17.458Z","last_downloaded_at":"2026-09-10T00:07:17.458Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478704","source_sha256":"94ffdece0185e2f6c03158061861fb7e35e03ff9195c242525218598372fd91d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e5100a56eff283faae3f2ff227ea160cf5354aea972ff40d93f982f5ddce85b1","downloaded_from":"2026-09-10T00:07:17.458Z","last_downloaded_at":"2026-09-10T00:07:17.458Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478704","source_sha256":"94ffdece0185e2f6c03158061861fb7e35e03ff9195c242525218598372fd91d"}},{"block":null,"heading":"Breeding and Production Animals","paragraphs":[{"citation":"360-905-25-4","para":"25-4","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_1500931B-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Except for animals with short productive lives classified as inventory under paragraph <a href=\"/asc/330/905/#330-905-25-3\" class=\"xref\">905-330-25-3</a></span></span><span class=\"sfragment\" id=\"sfr_1500943A-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">all of the following shall be recognized as fixed assets: </span></span><ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_1500951C-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Breeding animals </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">b</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_150095F1-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">All livestock (which includes cattle, hogs, sheep, and goats)</span></span></div></li><li class=\"li-norm\"><span class=\"linum\">c</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_150096F0-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Production animals.</span></span></div></li></ol></div></div>","snippet":"Except for animals with short productive lives classified as inventory under paragraph 905-330-25-3all of the following shall be recognized as fixed assets:\n(a) Breeding animals\n(b) All livestock (which includes cattle, …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c48454dea0f92551fa848ac371e239c611bd313aaf3829b58a0272a8b2460a62","downloaded_from":"2026-09-10T00:07:17.458Z","last_downloaded_at":"2026-09-10T00:07:17.458Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478704","source_sha256":"94ffdece0185e2f6c03158061861fb7e35e03ff9195c242525218598372fd91d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:59e36257e0844893a78abeac78ab675b86f7725d88c2b40df49f55b38911809a","downloaded_from":"2026-09-10T00:07:17.458Z","last_downloaded_at":"2026-09-10T00:07:17.458Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478704","source_sha256":"94ffdece0185e2f6c03158061861fb7e35e03ff9195c242525218598372fd91d"}},{"block":null,"heading":"Field or Row Crops","paragraphs":[{"citation":"360-905-25-5","para":"25-5","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_1500980E-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The costs involved in the production of the field or row crops for the producer's own use shall be identified as part of the maintenance costs of the livestock and accounted for in the same manner as other maintenance costs. </span></span></div></div>","snippet":"The costs involved in the production of the field or row crops for the producer's own use shall be identified as part of the maintenance costs of the livestock and accounted for in the same manner as other maintenance co…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:122c932ddfa2827c6adebcabf1ffa41e916a16ca623aa8a44d52950d8930cf8f","downloaded_from":"2026-09-10T00:07:17.458Z","last_downloaded_at":"2026-09-10T00:07:17.458Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478704","source_sha256":"94ffdece0185e2f6c03158061861fb7e35e03ff9195c242525218598372fd91d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6cf6803023662620c3d71aa1c4c179c88eadacaceb70a25a0d0e14397b6c119c","downloaded_from":"2026-09-10T00:07:17.458Z","last_downloaded_at":"2026-09-10T00:07:17.458Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not 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