International GAAP 2013: Generally Accepted Accounting Principles under International Financial Reporting Standards

Chapter 21

Investment property

1 Introduction

2 Definitions and scope

2.1 Property interests held under operating leases

2.2 Land

2.3 Property leased to others

2.4 Property held for own use (‘owner occupied’)

2.5 Property under construction for investment

2.6 Property held or under construction for sale in the ordinary course of business

2.7 Property with dual uses

2.8 Property with the provision of ancillary services

2.9 Property where rentals are determined by reference to the operations in the property

2.10 Group of assets leased out under a single operating lease

3 Recognition

3.1 Expenditure prior to planning permissions/zoning consents

3.2 Other aspects of cost recognition

3.2.1 Repairs and maintenance

3.2.2 Allocation into parts

3.3 Acquisition of investment property or a business combination?

4 Initial measurement

4.1 Attributable costs

4.2 Start up costs

4.3 Deferred payments

4.4 Reclassifications from property, plant and equipment (‒PP&E’)

4.5 Initial measurement of property held under a lease

4.6 Initial measurement of assets acquired in exchange transactions

4.7 Initial recognition of tenanted investment property subsequently measured using the cost model

4.8 Borrowing costs

4.9 Lease incentives and initial costs of leasing a property

4.10 Contingent costs

4.11 Income from tenanted property during development

4.12 Payments by the vendor to the purchaser

5 Measurement after initial recognition

5.1 Property held under an operating lease

5.2 Measurement by insurers and ...