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International Accounting Standards (IAS)
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| U.S. GAAP | IFRS, IAS | Accounting Topics |
International Accounting Standard (IAS) 40
Investment Property
International Financial
Reporting Standards (IFRS) |
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International Accounting
Standards (IAS) |
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U.S. GAAP by Topic |
| International Accounting Standard (IAS) 40 |
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IAS 40
Investment Property Issued in
April 2000 Revised in
December 2003 Recent amendment:
by IAS 1 revised September 2007 |
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What is
investment property? --> property held --> to earn rentals or --> for capital appreciation or both |
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Investment
property is recognised --> as an asset when: (1) future economic benefits: it is probable to receive future economic benefits (2) measurement: cost can be reliably measured |
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Initial
recognition --> investment property is initially measured at cost. |
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Measurement after recognition --> choose one of the following models: (1) fair value model (2) cost model |
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fair value model --> carrying amount = fair value --> gain or loss from a change in fair value --> recognised in profit or loss |
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Cost model
(IAS 16) --> carrying amount = cost - accumulated depreciation - accumulated impairment losses |
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IAS
40 Technical Notes |
