# ASC 360-905: Property, Plant, and Equipment — Agriculture Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/360/905/) 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. Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure. Source downloaded (UTC): 2026-09-10T00:07:07.550Z to 2026-09-10T00:07:25.862Z Record version: sha256:c9937836b20c9092acb279e0328d9fb06f20c1f9237190066a1fb68de5a5a2e3 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 360-905: Property, Plant, and Equipment — Agriculture ### Machine-generated study aids ```json { "summary": "ASC 360-905 governs how agricultural producers account for property, plant, and equipment — land development, orchards/groves/vineyards, intermediate-life plants, and animals. The core rule is that development costs (permanent and limited-life land development, cultural costs of trees and vines, and direct and indirect costs of developing animals) are capitalized during the development period; permanent land development is never depreciated because it has an indefinite life, while limited-life development, plantings, and mature breeding/production animals are depreciated over estimated useful or productive lives beginning when commercial production or maturity is reached.", "key_points": [ "Permanent land development costs (clearing, initial leveling, terracing, earthen dams) shall be capitalized (360-905-25-1) and shall not be depreciated or amortized because they have an indefinite useful life (360-905-35-6).", "Limited-life land development costs and the direct and indirect development costs of orchards, groves, vineyards, and intermediate-life plants shall be capitalized during the development period (360-905-25-3) and depreciated over the useful life of the land development or of the tree, vine, or plant (360-905-35-7).", "Cultural costs during the development of trees and vines (stakes and wires, grafting, labor for pruning and forming) are capitalized, and net proceeds from sales of products before commercial production begins are applied against the capitalized cost of the plants, trees, or vines (360-905-25-2).", "Breeding animals, all livestock, and production animals are recognized as fixed assets, except animals with short productive lives classified as inventory under 905-330-25-3 (360-905-25-4).", "All direct and indirect development costs of animals are accumulated until maturity and transfer to a productive function; immature animals are not considered in service, and upon maturity accumulated costs less estimated salvage value are depreciated over estimated productive lives (360-905-30-1; 360-905-35-2).", "Animals available and held for sale are measured under Subtopic 330-10 or, per established industry practice, at net realizable value if there are reliable, readily determinable, realizable market prices, insignificant and predictable disposal costs, and immediate availability for delivery (360-905-30-2).", "Depreciation of orchard, vineyard, grove, and intermediate-life plant costs begins when production in commercial quantities begins (360-905-35-4; 360-905-35-5), and accumulated costs and estimated useful lives for intermediate-life plants must be disclosed (360-905-50-1)." ], "categories": [ "Inventory and PP&E", "Industry-specific", "Subsequent measurement", "Initial measurement" ], "audience_level": "intermediate", "student_note": "The exam trap is the line between capitalized development costs (PP&E under 360-905) and inventoriable growing-crop costs (905-330), and the fact that permanent land development is capitalized but never depreciated. Also remember depreciation does not start until commercial production or animal maturity, and pre-production sales proceeds reduce the capitalized cost rather than being reported as revenue.", "related_topics": [ "905-330", "905-10", "330-10", "360-10", "905-360" ], "key_concepts": [ "development period costs", "permanent land development", "limited-life land development", "intermediate-life plants", "breeding and production animals", "commercial production threshold", "net realizable value for animals held for sale", "salvage value and depreciable base" ] } ``` Source downloaded (UTC): 2026-09-10T00:07:07.550Z to 2026-09-10T00:07:07.550Z Record version: sha256:b15c251c5a9d097caf49d20619c01243e6e16eb5f46bc6eb66eecb87648266b7 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 360-905-00: 00 Status [Read section](https://asc.understandingaccounting.org/asc/360/905/#00-status) SEC content: no ##### [360-905-00-1](https://asc.understandingaccounting.org/asc/360/905/#360-905-00-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:07.550Z to 2026-09-10T00:07:07.550Z Record version: sha256:cda3ea51deeed20e0ebb7199e284aaf792793b00a5fa84f834a832a3dd7ba309 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
Land Development CostsAddedAccounting Standards Update No. 2014-0603/14/2014
Land Improvement CostsSupersededAccounting Standards Update No. 2014-0603/14/2014
Limited Life Land Development CostsAmendedAccounting Standards Update No. 2014-0603/14/2014
Permanent Land Development CostsAmendedAccounting Standards Update No. 2014-0603/14/2014
Net Realizable ValueAddedAccounting Standards Update No. 2015-1107/22/2015
905-360-30-1AmendedAccounting Standards Update No. 2015-1107/22/2015
905-360-30-2AmendedAccounting Standards Update No. 2015-1107/22/2015
Source downloaded (UTC): 2026-09-10T00:07:10.548Z to 2026-09-10T00:07:10.548Z Record version: sha256:df7da859e4d361dbbd892cf2b6781793255d45bef32fa67f876fe877fe1588e1 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 360-905-05: 05 Overview and Background [Read section](https://asc.understandingaccounting.org/asc/360/905/#05-overview-and-background) SEC content: no ##### [360-905-05-1](https://asc.understandingaccounting.org/asc/360/905/#360-905-05-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:10.548Z to 2026-09-10T00:07:10.548Z Record version: sha256:990e7641a3057d140f8790f67024feefecbe599a273dcfc2f15c03407cd6dfe0 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. This Subtopic addresses accounting for property, plant, and equipment for entities in the agricultural industry. ##### [360-905-05-2](https://asc.understandingaccounting.org/asc/360/905/#360-905-05-2) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:10.548Z to 2026-09-10T00:07:10.548Z Record version: sha256:ac4e846893ddf8f563d9970a5c437d241b8cd4da527a77dbf4c4209a4875bc95 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Development costs of land, trees and vines, [intermediate-life plants](https://asc.understandingaccounting.org/glossary/i/#intermediate-life-plants "Intermediate-life plants have growth and production cycles of more than one year but less than those of trees and vines."), and animals incurred by [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.") are different from inventoriable costs incurred in raising [crops](https://asc.understandingaccounting.org/glossary/c/#crops "Grains, vegetables, fruits, berries, nuts, and fibers grown by agricultural producers.") for harvest (see Subtopic 905-330). ##### [360-905-05-3](https://asc.understandingaccounting.org/asc/360/905/#360-905-05-3) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:10.548Z to 2026-09-10T00:07:10.548Z Record version: sha256:0b2ff0d480418b82a10a8e693150c364eaae0b4af7f0738e2429fbc30c5e29b9 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Land development generally includes improvements to bring the land into a suitable condition for general agricultural use and to maintain its productive condition. Some improvements are permanent; some have a limited life. Permanent land developments include, for example, clearing, initial leveling, terracing, and construction of earthen dams; they involve changes to the grade and contour of the ground and generally have an indefinite life if they are properly maintained. Limited-life developments usually include such items as water distribution systems and fencing and may also include the costs of wells, levees, ponds, drain tile, and ditches, depending on the climate, topography, soil conditions, and farming practices in the area. ##### [360-905-05-4](https://asc.understandingaccounting.org/asc/360/905/#360-905-05-4) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:10.548Z to 2026-09-10T00:07:10.548Z Record version: sha256:180154f67be033ab5373d997e42e45028c5bb34f005e570d9a4910a9399d988a Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Orchards, [vineyards](https://asc.understandingaccounting.org/glossary/v/#vineyards "Grapevines planted in patterns for commercial cultivation and production."), and groves generally develop over several years before they reach [commercial production](https://asc.understandingaccounting.org/glossary/c/#commercial-production "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."). Production continues for varying numbers of years, depending on such influences as type of plant, soil, and climate. During development, the plants normally require grafting, pruning, spraying, cultivation, or other care. ##### [360-905-05-5](https://asc.understandingaccounting.org/asc/360/905/#360-905-05-5) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:10.548Z to 2026-09-10T00:07:10.548Z Record version: sha256:4f9dd66a861c482005c5dd2084d4a6bc60877c9863882fec04c28edb8838732b Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Intermediate-life plants include, for example, artichokes, various types of berries, asparagus, alfalfa, and grazing grasses. Development costs of intermediate-life plants include the cost of land preparation, plants, and cultural care until the plant, bush, or vine begins to produce in commercial quantities. ##### [360-905-05-6](https://asc.understandingaccounting.org/asc/360/905/#360-905-05-6) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:10.548Z to 2026-09-10T00:07:10.548Z Record version: sha256:3c62bbe688b592253ace93f492559850c9ebc0871311cb203a0e05b3e1938aa3 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The terms [livestock](https://asc.understandingaccounting.org/glossary/l/#livestock "Registered and commercial cattle, sheep, hogs, horses, poultry, and small animals bred and raised by agricultural producers.") and _animals_ are used interchangeably and are meant to include cattle, sheep, hogs, horses, poultry, and other small animals. The development of animals requires care and maintenance of the breeding stock and their [progeny](https://asc.understandingaccounting.org/glossary/p/#progeny "Offspring of animals or plants.") until their transfer from the brood herd. Animals purchased before maturity also require care and maintenance to ready them for productive use or sale. The animals are ultimately identified for transfer to [breeding herds](https://asc.understandingaccounting.org/glossary/b/#breeding-herds "Breeding herds consist of mature and immature male and female animals, either of registered or commercial grade, that are maintained for their progeny."), dairy herds, or other productive functions, are selected for sale, or are transferred to a feeding or other marketing operation. ##### [360-905-05-7](https://asc.understandingaccounting.org/asc/360/905/#360-905-05-7) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:10.548Z to 2026-09-10T00:07:10.548Z Record version: sha256:f44aac177348dd056e2b8bef74aca094bf536deee6c4f43c6d25b754f9314c5c Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. In some agricultural operations a field or [row crop](https://asc.understandingaccounting.org/glossary/r/#row-crops "See Field and Row Crops.") is raised for use in the development of another product, such as grain or hay used by the producer to feed livestock. ##### [360-905-05-8](https://asc.understandingaccounting.org/asc/360/905/#360-905-05-8) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:10.548Z to 2026-09-10T00:07:10.548Z Record version: sha256:c09988b7268095cd19fdf72945fa034b597eae06d635176e9010268fab0d15e3 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. See also Section 905-10-05 for further background. Source downloaded (UTC): 2026-09-10T00:07:12.269Z to 2026-09-10T00:07:12.269Z Record version: sha256:5d5fdce9dbec096e8106d60db075ef57c3c9b4a8e3807d93f218f208f4a2a09b Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 360-905-15: 15 Scope and Scope Exceptions [Read section](https://asc.understandingaccounting.org/asc/360/905/#15-scope-and-scope-exceptions) SEC content: no #### Overall Guidance ##### [360-905-15-1](https://asc.understandingaccounting.org/asc/360/905/#360-905-15-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:12.269Z to 2026-09-10T00:07:12.269Z Record version: sha256:20d26bc794788f006bd5f97235b0c4c97f35f6e9be006806a33f82d9ab5eceb3 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see the [General Subsection](https://asc.understandingaccounting.org/asc/905/10/#15-scope-and-scope-exceptions) of Section 905-10-15. Source downloaded (UTC): 2026-09-10T00:07:17.458Z to 2026-09-10T00:07:17.458Z Record version: sha256:6f0cf6904b2f890b87049e2dec52d163d5f733f4ad0ffe4852b71491d6287a5d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 360-905-25: 25 Recognition [Read section](https://asc.understandingaccounting.org/asc/360/905/#25-recognition) SEC content: no #### Permanent Land Development Costs ##### [360-905-25-1](https://asc.understandingaccounting.org/asc/360/905/#360-905-25-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:17.458Z to 2026-09-10T00:07:17.458Z Record version: sha256:0c5d4b94f88804e1dbef1460952a5952d20efcd03d83a25ccb08f8487b186f77 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Permanent land development costs](https://asc.understandingaccounting.org/glossary/p/#permanent-land-development-costs "See Land Development Costs.") shall be capitalized. #### Trees and Vines ##### [360-905-25-2](https://asc.understandingaccounting.org/asc/360/905/#360-905-25-2) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:17.458Z to 2026-09-10T00:07:17.458Z Record version: sha256:eb3427dff550e97f7df989ccca1ea2285effc9c7d1230c4fced29de64d54b274 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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](https://asc.understandingaccounting.org/glossary/o/#orchard "Fruit trees planted in geometric patterns to economically facilitate care of the trees and harvest of the fruit. See also Grove.") 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 [commercial production](https://asc.understandingaccounting.org/glossary/c/#commercial-production "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.") begins shall be applied to the capitalized cost of the plants, trees, or vines. #### Development Costs of Land, Orchards, Groves, Vineyards, and Intermediate-Life Plants ##### [360-905-25-3](https://asc.understandingaccounting.org/asc/360/905/#360-905-25-3) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:17.458Z to 2026-09-10T00:07:17.458Z Record version: sha256:0890bd3acb51191a61a06cfd866b691c5d125b98e08752981540d2cbc687637a Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Limited-life land development costs](https://asc.understandingaccounting.org/glossary/l/#limited-life-land-development-costs "See Land Development Costs.") and direct and indirect development costs of orchards, groves, [vineyards](https://asc.understandingaccounting.org/glossary/v/#vineyards "Grapevines planted in patterns for commercial cultivation and production."), and [intermediate-life plants](https://asc.understandingaccounting.org/glossary/i/#intermediate-life-plants "Intermediate-life plants have growth and production cycles of more than one year but less than those of trees and vines.") shall be capitalized during the development period. #### Breeding and Production Animals ##### [360-905-25-4](https://asc.understandingaccounting.org/asc/360/905/#360-905-25-4) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:17.458Z to 2026-09-10T00:07:17.458Z Record version: sha256:c48454dea0f92551fa848ac371e239c611bd313aaf3829b58a0272a8b2460a62 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Except for animals with short productive lives classified as inventory under paragraph [905-330-25-3](https://asc.understandingaccounting.org/asc/330/905/#330-905-25-3)all of the following shall be recognized as fixed assets: 1. a Breeding animals 2. b All livestock (which includes cattle, hogs, sheep, and goats) 3. c Production animals. #### Field or Row Crops ##### [360-905-25-5](https://asc.understandingaccounting.org/asc/360/905/#360-905-25-5) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:17.458Z to 2026-09-10T00:07:17.458Z Record version: sha256:122c932ddfa2827c6adebcabf1ffa41e916a16ca623aa8a44d52950d8930cf8f Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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. Source downloaded (UTC): 2026-09-10T00:07:19.597Z to 2026-09-10T00:07:19.597Z Record version: sha256:be136bf07b0e462dc727928e2d9e255f04081c3a5ff86f682863eb5cb4d259e2 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 360-905-30: 30 Initial Measurement [Read section](https://asc.understandingaccounting.org/asc/360/905/#30-initial-measurement) SEC content: no #### Developing Animals ##### [360-905-30-1](https://asc.understandingaccounting.org/asc/360/905/#360-905-30-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:19.597Z to 2026-09-10T00:07:19.597Z Record version: sha256:26c39bc3a383249d53629cd9967a5d5668a8c4d494aaa00114be9bb6107d7857 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:19.597Z to 2026-09-10T00:07:19.597Z Record version: sha256:6d9ba975b58bb0a20234ade8005ea089651dd563bc36f9eb723d551d14080ec5 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [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) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:19.597Z to 2026-09-10T00:07:19.597Z Record version: sha256:9504c383b27fd3162d382d74a718f52a4c00a54cfb35430b203d54681032146b Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:19.597Z to 2026-09-10T00:07:19.597Z Record version: sha256:cc10eab9f7f1f49dec398c3d822d6ed1d539e568bd5a3e39a7f9d82d27aece73 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:19.597Z to 2026-09-10T00:07:19.597Z Record version: sha256:55fbafb89cb4a0f5b6a12ce94bcd99785012b5326c98d7e051e14a2c17b50b26 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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. Source downloaded (UTC): 2026-09-10T00:07:21.415Z to 2026-09-10T00:07:21.415Z Record version: sha256:5c2528f41108b3e90001f77dca300fd3a71259f5931e9886997fd75c12c34fa4 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 360-905-35: 35 Subsequent Measurement [Read section](https://asc.understandingaccounting.org/asc/360/905/#35-subsequent-measurement) SEC content: no #### Breeding and Production Animals ##### [360-905-35-1](https://asc.understandingaccounting.org/asc/360/905/#360-905-35-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:21.415Z to 2026-09-10T00:07:21.415Z Record version: sha256:ecf0d6af994faa51b35f7a2ce5030fcd2c4a616ff057fabed094f180193dfd76 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Fixed assets recognized under paragraph [905-360-25-4](https://asc.understandingaccounting.org/asc/360/905/#360-905-25-4) shall be depreciated over their useful lives. ##### [360-905-35-2](https://asc.understandingaccounting.org/asc/360/905/#360-905-35-2) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:21.415Z to 2026-09-10T00:07:21.415Z Record version: sha256:1015d2a3731d1c107fa2604ff1493f907e95924f22846d24a7b8ab0d2d8cedbd Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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](https://asc.understandingaccounting.org/asc/360/905/#360-905-25-4), 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](https://asc.understandingaccounting.org/asc/360/905/#360-905-25-4) shall become subject to depreciation. ##### [360-905-35-3](https://asc.understandingaccounting.org/asc/360/905/#360-905-35-3) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:21.415Z to 2026-09-10T00:07:21.415Z Record version: sha256:fe1b4a38b8a33af58624c651c89f78bb5ab4a08346e447c752dc58fde859ef5f Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The production costs recognized under paragraph [905-360-25-4](https://asc.understandingaccounting.org/asc/360/905/#360-905-25-4) of chickens raised for an egg-laying unit, less estimated salvage value of the chickens, shall be amortized over the egg-laying period. #### Trees and Vines ##### [360-905-35-4](https://asc.understandingaccounting.org/asc/360/905/#360-905-35-4) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:21.415Z to 2026-09-10T00:07:21.415Z Record version: sha256:396190249b0d4220d07eb6e824878feb1f34e112470ce96e5775e0a1ac8eaa21 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. When production in commercial quantities begins, the accumulated costs shall be depreciated over the estimated useful life of the particular [orchard](https://asc.understandingaccounting.org/glossary/o/#orchard "Fruit trees planted in geometric patterns to economically facilitate care of the trees and harvest of the fruit. See also Grove."), vineyard, or [grove](https://asc.understandingaccounting.org/glossary/g/#grove "Fruit or nut trees planted in geometric patterns to economically facilitate care of the trees and harvest of the fruit or nuts. See also Orchard."). #### Intermediate-Life Plants ##### [360-905-35-5](https://asc.understandingaccounting.org/asc/360/905/#360-905-35-5) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:21.415Z to 2026-09-10T00:07:21.415Z Record version: sha256:a07c4d0e387234a9a0118a813e50d3a49e7d4b7322e36c99eaa83f824e677374 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. When production in commercial quantities begins for [intermediate-life plants](https://asc.understandingaccounting.org/glossary/i/#intermediate-life-plants "Intermediate-life plants have growth and production cycles of more than one year but less than those of trees and vines."), 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 ##### [360-905-35-6](https://asc.understandingaccounting.org/asc/360/905/#360-905-35-6) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:21.415Z to 2026-09-10T00:07:21.415Z Record version: sha256:62a2beaabeaf9e8b7f8402bd29b5c9dad89bb2eef9ccd39e2a02d31b9c3ae41f Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Permanent land development costs](https://asc.understandingaccounting.org/glossary/p/#permanent-land-development-costs "See Land Development Costs.") capitalized under paragraph [905-360-25-1](https://asc.understandingaccounting.org/asc/360/905/#360-905-25-1) shall not be depreciated or amortized, since they have, by definition, an indefinite useful life. #### Development Costs for Limited-Life Land Development, Orchards, Groves, Vineyards, and Intermediate-life Plants ##### [360-905-35-7](https://asc.understandingaccounting.org/asc/360/905/#360-905-35-7) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:21.415Z to 2026-09-10T00:07:21.415Z Record version: sha256:f77b2671253b7397bd7dd3321562cae584e02be1de5ca96351f241b982b05baf Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Costs capitalized during the development period under paragraph [905-360-25-3](https://asc.understandingaccounting.org/asc/360/905/#360-905-25-3) shall be depreciated over the estimated useful life of the land development or that of the tree, vine or plant. Source downloaded (UTC): 2026-09-10T00:07:23.088Z to 2026-09-10T00:07:23.088Z Record version: sha256:d1c9099c400aef38f609a1b262252147f7b44b1ea1805eeb27e5ccbb92314046 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 360-905-50: 50 Disclosure [Read section](https://asc.understandingaccounting.org/asc/360/905/#50-disclosure) SEC content: no #### Intermediate-life Plants ##### [360-905-50-1](https://asc.understandingaccounting.org/asc/360/905/#360-905-50-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:07:23.088Z to 2026-09-10T00:07:23.088Z Record version: sha256:78e8f44c720557bc5b321525a248d9cc84983b420b5fa46b51118c23b05a7d6e Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Financial statement disclosure of the accumulated costs for [intermediate-life plants](https://asc.understandingaccounting.org/glossary/i/#intermediate-life-plants "Intermediate-life plants have growth and production cycles of more than one year but less than those of trees and vines.") and estimated useful lives shall be made.