IAS 40

Question 1

IR of Investment Property under IAS 40

Answer 1

Recognise under NCA and measure using cost model or FV model

Question 2

Defn of an Investment Property

Answer 2

recv rental income or is used for capital appreciation

Question 3

If the cost of maintenance/utilities etc is insignificant, how to account for it?

Answer 3

Satisfies the definition of IP (IAS 40)
-account under cost model or FV model