The Commission Regulation (EU) No 2015/2113, published in the Official Journal of the European Union L 306 on 24 November 2015, adopts Amendments to IAS 16 Property, Plant and Equipment and IAS 41 Agriculture entitled Agriculture: Bearer Plants.

The IASB decided that plants, which are used solely to grow produce over several periods, known as bearer plants, should be accounted for in the same way as property, plant and equipment in IAS 16 Property, Plant and Equipment, because their operation is similar to that of manufacturing..

Each company shall apply the amendments, at the latest, as from the commencement date of its first financial year starting on or after 1 January 2016.