Agriculture is one of the oldest human activities and has an important role in global
economy by its generated economic resources. The International Accounting Standard IAS 41
– Agriculture does not treat problems of agricultural lands and intangible agricultural assets,
because these issues are presented in IAS 16 standard (or IAS 40), respectively IAS 38. IAS
41 does not contain specific information related to how often one should evaluate biological
assets, deducing that the evaluation must be conducted on each closing date, because there are
no existent regulations to stipulate a less frequent evaluation of biological assets.