Maniolas

(Second of two parts) IN LAST WEEK’S article we explained how agricultural companies have to account for the costs of bearer plants or the aggregate of planting costs prior to harvest. We also explained how these costs are currently accounted for in the financial statements. However, concerns about accuracy and complexity prompted the International Accounting Standards Board to amend International Accounting Standard (IAS) 16, Plant, Property and Equipment, and IAS 41, Agriculture. Specifically, bearer plants will be accounted for just like any other plant, property and equipment (PPE). We now continue the discussion on the specifics on how IAS 16 will be applied to bearer plants.

THE PHILIPPINES will likely import more ethanol in the coming years to meet the mandated ethanol blends in gasoline, as supply will be unable to meet rising demand through 2020 due to low productivity and disincentives on investments.

THE HOUSE of Representatives approved the proposed P2.606-trillion national budget for 2015 on third and final reading yesterday without major amendments, keeping with the Executive’s goal of having it enacted by yearend.

AT OUR PRIME, we plan ahead and ensure that we are taken care of until our final stage in life. This is where the option of investing in memorial plans, whether in a memorial plot or in a columbary or ash vaults, kicks in. It may surprise some readers but, as these are forms of investment, there is that probability of profiting from this investment platform.

THE SUGAR Regulatory Administration (SRA) expressed concern over a proposed measure imposing additional taxes on soft drinks and carbonated drinks, saying it could negatively impact the industry.