Long-term biological assets
is an accounting term referring to the value of living plants and animals as assets on your balance sheet.
Biological assets can be held and accounted for by any business owner. However, because of their nature, they are typically of the utmost importance to farmers or any individuals whose primary source of profit comes from growing, selling, and shipping such goods.
Biological assets, because they are living or have an active component that makes them difficult to maintain, are constantly under the threat of change, both qualitative and quantitative. This simply means that plants, animals, and the living things they produce (such as hens producing eggs or cows producing milk) have a period of time where they must grow or be produced, a useful period during which they can be harvested, and a limited amount of time during which they can be moved and sold before they rot, decay, or otherwise become useless to consumers.
https://bizfluent.com/about-6310925-meaning-biological-assets-.html
https://corporatefinanceinstitute.com/resources/knowledge/accounting/biological-assets/
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