{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/360/905/#30-initial-measurement","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":"30","label":"30 Initial Measurement","anchor":"30-initial-measurement","is_sec":false,"groups":[{"block":null,"heading":"Developing Animals","paragraphs":[{"citation":"360-905-30-1","para":"30-1","html":"
All direct and indirect costs of developing animals shall be accumulated until the animals reach maturity and are transferred to a productive function. All direct and indirect development costs of animals raised for sale shall be accumulated, and the animals shall be accounted for in accordance with the measurement guidance in Subtopic 330-10 until they are available for sale.
","snippet":"All direct and indirect costs of developing animals shall be accumulated until the animals reach maturity and are transferred to a productive function. All direct and indirect development costs of animals raised for sale…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:26c39bc3a383249d53629cd9967a5d5668a8c4d494aaa00114be9bb6107d7857","downloaded_from":"2026-09-10T00:07:19.597Z","last_downloaded_at":"2026-09-10T00:07:19.597Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477957","source_sha256":"32611f7eb234d64413645218173ba166ce484c532e265523c102a137846fea70"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2fa9d0a0ed0e63aadac2a32f83e16662de0536dd145bda62fd99b9d6bcb0131f","downloaded_from":"2026-09-10T00:07:19.597Z","last_downloaded_at":"2026-09-10T00:07:19.597Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477957","source_sha256":"32611f7eb234d64413645218173ba166ce484c532e265523c102a137846fea70"}},{"block":null,"heading":"Animals Available and Held for Sale","paragraphs":[{"citation":"360-905-30-2","para":"30-2","html":"
Agricultural producers shall report animals available and held for sale either:
  1. a
    In accordance with the measurement guidance in Subtopic 330-10
  2. b
    In accordance with established industry practice at net realizable value if all of the following conditions exist:
    1. 1
      There are reliable, readily determinable, and realizable market prices for the animals.
    2. 2
      The costs of disposal are relatively insignificant and predictable.
    3. 3
      The animals are available for immediate delivery.
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The costs of raised or purchased animals kept in grazing areas or open ranges shall be determined in the same manner as for breeding animals.
","snippet":"The costs of raised or purchased animals kept in grazing areas or open ranges shall be determined in the same manner as for breeding animals.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9504c383b27fd3162d382d74a718f52a4c00a54cfb35430b203d54681032146b","downloaded_from":"2026-09-10T00:07:19.597Z","last_downloaded_at":"2026-09-10T00:07:19.597Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477957","source_sha256":"32611f7eb234d64413645218173ba166ce484c532e265523c102a137846fea70"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9c9eaa6a18df5d602c5d7ef8cf9f79d8d7b8bce1b26b6ac7f63df57bd00a2ac7","downloaded_from":"2026-09-10T00:07:19.597Z","last_downloaded_at":"2026-09-10T00:07:19.597Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477957","source_sha256":"32611f7eb234d64413645218173ba166ce484c532e265523c102a137846fea70"}},{"block":null,"heading":"Production Animals","paragraphs":[{"citation":"360-905-30-4","para":"30-4","html":"
The production costs of chickens raised for an egg-laying unit shall include the initial cost of the birds (or, if hatched, the costs of eggs and hatching expenses), the costs of materials and labor, and allocated indirect costs during the prematurity period.
","snippet":"The production costs of chickens raised for an egg-laying unit shall include the initial cost of the birds (or, if hatched, the costs of eggs and hatching expenses), the costs of materials and labor, and allocated indire…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cc10eab9f7f1f49dec398c3d822d6ed1d539e568bd5a3e39a7f9d82d27aece73","downloaded_from":"2026-09-10T00:07:19.597Z","last_downloaded_at":"2026-09-10T00:07:19.597Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477957","source_sha256":"32611f7eb234d64413645218173ba166ce484c532e265523c102a137846fea70"}},{"citation":"360-905-30-5","para":"30-5","html":"
Some production animals produce more than one product. For example, sheep produce lambs, wool, and meat; dairy cattle produce milk, calves, and meat. The primary products are lambs and milk, whereas the secondary products are usually wool and calves. Costs may be allocated as either joint products or by-products depending on the estimated relative values of each. In most instances the meat, or slaughter value, of the production animal is considered salvage. The method of accounting shall be determined by the amounts anticipated to be received for each product. Those amounts are affected by the breeding, production, and marketing practices of the producer.
","snippet":"Some production animals produce more than one product. For example, sheep produce lambs, wool, and meat; dairy cattle produce milk, calves, and meat. The primary products are lambs and milk, whereas the secondary product…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:55fbafb89cb4a0f5b6a12ce94bcd99785012b5326c98d7e051e14a2c17b50b26","downloaded_from":"2026-09-10T00:07:19.597Z","last_downloaded_at":"2026-09-10T00:07:19.597Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477957","source_sha256":"32611f7eb234d64413645218173ba166ce484c532e265523c102a137846fea70"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0e1d05c981f1cb0531f95104d81140b2719b7d5212c689a8e939bdc9cde72b8d","downloaded_from":"2026-09-10T00:07:19.597Z","last_downloaded_at":"2026-09-10T00:07:19.597Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477957","source_sha256":"32611f7eb234d64413645218173ba166ce484c532e265523c102a137846fea70"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:be136bf07b0e462dc727928e2d9e255f04081c3a5ff86f682863eb5cb4d259e2","downloaded_from":"2026-09-10T00:07:19.597Z","last_downloaded_at":"2026-09-10T00:07:19.597Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477957","source_sha256":"32611f7eb234d64413645218173ba166ce484c532e265523c102a137846fea70"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:be136bf07b0e462dc727928e2d9e255f04081c3a5ff86f682863eb5cb4d259e2","downloaded_from":"2026-09-10T00:07:19.597Z","last_downloaded_at":"2026-09-10T00:07:19.597Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477957","source_sha256":"32611f7eb234d64413645218173ba166ce484c532e265523c102a137846fea70"}}