CBD owns 500 acres of land located in Prince Edward Country. On the acreage, the majority of the property is taken up by outdoor cultivation spaces and greenhouses where they are able to grow a variety of Cannabis sativa plant species. They also have a manufacturing plant that processes the plants into oils. The head office is attached to the plant, but makes up less than 10% of the total space. Total overhead costs, such as heating, insurance, electricity, and depreciation costs associated with the facility were $2,685,000 in 20X8.

The sativa plants are grown from seeds to maturity. The process generally takes anywhere from 2 to 18 months, depending on the plant species. Total costs incurred during 20X8 for servicing the plants including cost of seedlings, water, and fertilizer were $35,000, $722,000, and $1,210,000, respectively. Once the plants mature, they are further processed into oils that are packaged and sold online to individual consumers. The total cost of refinement, processing, and packaging was estimated to be $1,500,000 for 20X8. CBD Inc. estimates that the fair value of a mature plant at the point of harvest is $150/plant. The company picked 34,000 plants during the year. Those were processed into a total of 8,000 litres of pure CBD oil. As of 31 December 20X8, the company had 1,400 litres on hand.

Prepare a report to Madeline Karbesti.

CBD Inc. (CBD) grows and manufacturers Cannabis sativa plant species and then curates their product into CBD oil. The company was incorporated in 20X6, and operates out of Prince Edward Country. Ontario. CBD Inc. primarily sells its products via online channels to individual consumers. Occasionally it also sells pure oil, in large batch quantities, to independent distributors (i.e, makeup, skin care, and other producers) that further "refine" the products into other goods. The company sells the oil at a standard price of $2.000 per litre of pure oil. Selling costs are approximately 10% of the sales price. You work for CBD in the accounting department, reporting directly to the controller. Madeline Karbesti. CBD Inc. is a private company that is contemplating taking the company public. Consequently, Madeline would like an analysis of all issues prepared in accordance with IFRS. For agriculture in particular, Madeline has asked that you discuss the differences between IFRS and ASPE. She has provided you with additional financial information in Exhibit 1 . The company has a 31 December 208 year-end. CBD Inc. (CBD) grows and manufacturers Cannabis sativa plant species and then curates their product into CBD oil. The company was incorporated in 20X6, and operates out of Prince Edward Country. Ontario. CBD Inc. primarily sells its products via online channels to individual consumers. Occasionally it also sells pure oil, in large batch quantities, to independent distributors (i.e, makeup, skin care, and other producers) that further "refine" the products into other goods. The company sells the oil at a standard price of $2.000 per litre of pure oil. Selling costs are approximately 10% of the sales price. You work for CBD in the accounting department, reporting directly to the controller. Madeline Karbesti. CBD Inc. is a private company that is contemplating taking the company public. Consequently, Madeline would like an analysis of all issues prepared in accordance with IFRS. For agriculture in particular, Madeline has asked that you discuss the differences between IFRS and ASPE. She has provided you with additional financial information in Exhibit 1 . The company has a 31 December 208 year-end