BillerudKorsnäs makes a revaluation of forest land

BillerudKorsnäs reevaluates woods land

BillerudKorsnäs has made a valuation of approximately 36 000 hectares of woods assets, of which approximately 18,000 hectares are productive forests, in which the biological assets are valued co-ordinate to IAS41. At the same time, the company has chosen to change the bookkeeping method for valuing forest land assets from the acquisition value to the revaluation model based on the fair value, mainly based on transaction prices for forest properties in comparable areas. If you're also planning to implement some changes in your business organisation accounting processes, y'all may seek the services of companies like https://www.fourlane.com/quickbooks-consulting/.

Most of the forests are located in mountain areas in Jämtland and Dalarna, where the share of productive forests is relatively low. About two,000 hectares, of which i,000 are productive, are located most the Grouping'southward production facilities in Sweden.

This fair value significantly exceeds the previously recognized volume value, by SEK 280 million. The value change related to biological avails of SEK 132 1000000 will be recognized in the income statement and as an item affecting comparability in the 2022 second quarter results. The value change related to woods land of SEK 148 million volition be recognized in Other Comprehensive Income.

BillerudKorsnäs expects to own another 15 400 hectares of forest assets as a result of the transactions with Bergvik Skog Öst AB during 2019, of which approximately 5 500 hectares are productive forest land, when the cadastral processes for these backdrop are finalized. These forest assets will be revalued according to the Group´s accounting principles, at that time.

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Source: https://packagingsouthasia.com/application/food-and-beverages/billerudkorsnas-makes-a-revaluation-of-forest-land/

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