Adoption of the Fair Value in the disclosure of biological assets: a case study in the production of Yerba Mate

The adoption of Law 11.638/07 and 11.941/09 and the creation of the Accounting Pronouncements Committee (CPC), emphasized and legality to the process of convergence of Brazilian accounting standards with international standards, resulting in a challenge for businesses and accounting professionals. The fair value or fair value was presented as a measure of evaluation of specific assets, endowed with life, which are subject to biological changes that significantly affect its value, in order to analyze which are the reflections of the measurement and accounting of mate culture (biological assets) at fair value, this paper presents the evaluation methodology of biological assets in the light of fair value concepts. The research was exploratory and descriptive, in the methods was bibliographical, documentary and case study on a farm. Data were collected on a farm cultivating yerba mate - Illex paraguarienses and treated through the use of statistical decretive. The results show that the measurement of biological assets, by fair value methodology, significantly changes the book value of equity, directly influencing the profit or loss of the entity.