{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/360/905/#35-subsequent-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":"35","label":"35 Subsequent Measurement","anchor":"35-subsequent-measurement","is_sec":false,"groups":[{"block":null,"heading":"Breeding and Production Animals","paragraphs":[{"citation":"360-905-35-1","para":"35-1","html":"Fixed assets recognized under paragraph 905-360-25-4 shall be depreciated over their useful lives. At the point that breeding and production animals reach maturity and are transferred to a production function, the accumulated development costs recognized under paragraph 905-360-25-4, less any estimated salvage value, shall be depreciated over the animals' estimated productive lives. Immature animals shall not be considered to be in service until they reach maturity, at which time their accumulated costs recognized under paragraph 905-360-25-4 shall become subject to depreciation. The production costs recognized under paragraph 905-360-25-4 of chickens raised for an egg-laying unit, less estimated salvage value of the chickens, shall be amortized over the egg-laying period. When production in commercial quantities begins, the accumulated costs shall be depreciated over the estimated useful life of the particular orchard, vineyard, or grove. When production in commercial quantities begins for intermediate-life plants, the capitalized costs shall be depreciated over the estimated productive life of the plantings. Regional differences, climate and soil conditions, and cultural practices may affect the productive capacity and life of intermediate-life plants and shall be considered when establishing depreciable lives. Permanent land development costs capitalized under paragraph 905-360-25-1 shall not be depreciated or amortized, since they have, by definition, an indefinite useful life. Costs capitalized during the development period under paragraph 905-360-25-3 shall be depreciated over the estimated useful life of the land development or that of the tree, vine or plant.