Last Updated on 08/02/2020 by 75385885
IAS 40 Investment property
IAS 40 Objective Scope Definitions
1 The objective of this Standard is to prescribe the accounting treatment for investment property and related disclosure requirements.
2 This Standard shall be applied in the recognition, measurement and disclosure of investment property.
4 This Standard does not apply to:
- biological assets related to agricultural activity (see IAS 41 Agriculture and IAS 16 Property, Plant and Equipment); and
- mineral rights and mineral reserves such as oil, natural gas and similar non-regenerative resources.
5 The following terms are used in this Standard with the meanings specified:
Carrying amount is the amount at which an asset is recognised in the statement … Read more