Investment property accounting: cost-model recognition, disclosure of fair value and transfers on demonstrable change in use. Ind AS 40 governs accounting for investment property-land or buildings (including lessee right-of-use assets) held to earn rentals or for capital appreciation-requiring initial recognition when future economic benefits are probable and cost is reliably measurable, initial measurement at cost with directly attributable costs, subsequent measurement under the cost model, mandatory fair value disclosure, rules for transfers on change in use, derecognition on disposal or permanent withdrawal, and detailed disclosure obligations including criteria for classification, rental income and reconciliations; interaction with Ind AS 116 and Ind AS 115 is addressed.
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Investment property accounting: cost-model recognition, disclosure of fair value and transfers on demonstrable change in use.
Ind AS 40 governs accounting for investment property-land or buildings (including lessee right-of-use assets) held to earn rentals or for capital appreciation-requiring initial recognition when future economic benefits are probable and cost is reliably measurable, initial measurement at cost with directly attributable costs, subsequent measurement under the cost model, mandatory fair value disclosure, rules for transfers on change in use, derecognition on disposal or permanent withdrawal, and detailed disclosure obligations including criteria for classification, rental income and reconciliations; interaction with Ind AS 116 and Ind AS 115 is addressed.
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