# ASC 360-905-30: Property, Plant, and Equipment — Agriculture — 30 Initial Measurement

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/360/905/#30-initial-measurement)

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## ASC 360-905-30: 30 Initial Measurement

[Read section](https://asc.understandingaccounting.org/asc/360/905/#30-initial-measurement)

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#### Developing Animals

##### [360-905-30-1](https://asc.understandingaccounting.org/asc/360/905/#360-905-30-1)

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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.

#### Animals Available and Held for Sale

##### [360-905-30-2](https://asc.understandingaccounting.org/asc/360/905/#360-905-30-2)

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[Agricultural producers](https://asc.understandingaccounting.org/glossary/a/#agricultural-producers "Farmers and ranchers including, for example, those who raise crops from seeds or seedlings, breed livestock (whether registered or commercial), and feed livestock in preparation for slaughter.") 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](https://asc.understandingaccounting.org/glossary/n/#net-realizable-value "Estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation.") 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.

##### [360-905-30-3](https://asc.understandingaccounting.org/asc/360/905/#360-905-30-3)

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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.

#### Production Animals

##### [360-905-30-4](https://asc.understandingaccounting.org/asc/360/905/#360-905-30-4)

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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.

##### [360-905-30-5](https://asc.understandingaccounting.org/asc/360/905/#360-905-30-5)

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Some [production animals](https://asc.understandingaccounting.org/glossary/p/#production-animals "Production animals provide a service or primary product other than their progeny. Examples are dairy cows (milk), poultry (meat and eggs), and sheep (meat and wool).") 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.