Different Business Activities

About This Chapter

In this chapter, we consider those activities that are sufficiently important, or different, to merit their own standards. Each of the four standards we discuss in this chapter refers to a particular industry or business activity. Although the application of the standards in particular circumstances may need an in-depth knowledge of the terminology used in that industry, the main requirements we discuss in this chapter are clear in their intention.

Our first standard, IAS 40, was first issued in 1986, a replacement standard with the same number was issued in 2003, and the latest amendment was in 2016. The requirements are to be applied to a property that an entity acquires for an investment ...

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