Overview -- International accounting standard 41 agriculture -- Accounting for biological assets : current debate -- Fair value relevance of biological assets -- Empirical evidence -- Main findings and future avenues of research

Under the Taxpayer Relief Act of 1997, most farmers will pay less Federal income tax, and farm families will find it easier to transfer the family farm across generations. The new law--the tax portion of 1997 legislation to balance the Federal budget by 2002--emerges from years of debate on...