Theoretical Framework

In this world of fast-changing pace, the only constant there is would definitely
be Change. The International Accounting Standards Board (IASB) have also taken
part in the said transition towards achieving a less complex but accurate way of
classifying and valuing bearer plants. Once the changes have been made and
embraced, the organization either thrive or struggle to cope. The researchers have
correlated the said amendments to that of Change Management Model of Kurt
Lewin. This model rooted way back 1940s when psychologist Kurt Lewin developed
his three stages model from the principles of Organizational Change Management.
Through the amendments made by IASB on the standards of IAS 16 and IAS 41, the
agribusinesses and other subjects that might get affected with these applied
changes can look forward and prepare themselves for what is about to come. The
amendments were then proposed back in the year 2014 and that has given the
entities the time to react and foresee the probable effects that they will be facing.
The researchers found this model related to their research due to the fact that these
changes were made in expectation that it will be of beneficial to different
agribusinesses not just in the operations and recording process of the business but
most definitely to the yielding of a more accurate and less complex financial
reports.
Change Management Model patterned the research through the three
stages.:Unfreeze,change and refreeze.In accordance to International Accounting
Standards Board(IASB)'s resolution in IAS 41 and 16,specifically the bearer
plants,the researchers come with an interpretation to correlate the amendment with
this model. Unfreeze, where the reason of amendment is formulated and preparing
the entities for the change.Diagnose the breakdown of prior way of measuring

bearer plants and look forward toward the effective and accurate process.Change,
wherein it takes a matter of time for the newly amended standards to fully
implement and communicate throughout the entities.Resolving uncertainty of ever
changing fair value and its absence in a market.Moreover, understanding the
benefits,that this amendment welcomes an accurate and less complex way of
measuring. Lastly, the refreezing stage wherein the entities already adopted the
new standards .Embracing the amendment through the application of the new way
on how to classify and measure bearer plants in their daily operation. At this point
the researchers can evaluate how the entities will adjust and identiy its
corresponding advantages and consequences that are going to be faced with this
amendment.