Treatment of livestock in accounts

catja

Hi, could anyone tell me the proper way to account for stock in a farming business that has both arable and livestock, I believe there is a depreciation figure applied to get to the correct stock value but whether this is used depends on the time stock was bought in?

Also how is the single farm payment accounted for in terms of accrued income etc as I believe there is difference in the calendar year and when it is paid?

Thanks