Analysis of the adherence to CPC 27 and CPC 29 by companies listed on the BM&FBovespa that maintain biological assets of bearer plants

Biological assets are part of the Brazilian agribusiness, which due to its specificities, heterogeneous characteristics, significant attributes and economic importance has received from accounting a special treatment. In Brazil, the Accounting Pronouncements Committee issued Pronouncement 29 - Biological Assets and Agricultural Products in 2009. CPC 29 determines the criteria for measuring, recognizing and disclosing biological assets during their development phases, as well as determining that all biological assets must be measured at fair value. In 2015 in Brazil, the Accounting Pronouncements Committee issued the Accounting Pronouncements Revision - no 08/2015, which is expected to commence on January 1, 2016. This revision implements changes in several Technical Pronouncements and among these changes the one that deals with the accounting of carrier plants, which made changes in CPC 27 and CPC 29. Considering that the adhesion may vary, this article had the objective to investigate the adhesion to CPC 27 and CPC 29 by the companies listed on BM & FBovespa which have biological assets, of the type plant carrier, registered in equity. The results obtained in this study varied between 54.05% and 67.57%, which shows that no company had full adherence. The result may suggest that companies have faced some kind of difficulty in meeting recognition, measurement and disclosure requirements since this is the first year of implementation of the changes.