f7课件f7课件4 ias40_W

1、IAS 40 Investment propertyDefinition &RecognitionDefinitionsInvestment property is property held to earn rentals or for capital appreciation or both, rather than for:a)Use in the production or supply of goods or services or for administrative purposes, orSale in the ordinary course of businessb)Ex1W

2、hich of the following properties owned by Scoop Co would be classified as an investment property?A.A stately home used for executive training but which is no longer required and is now being held for resalePurchased land for investment potential. Planning permission has not been obtained for buildin

3、g construction of any kindA new office building used as its head office, purchased specifically in order to exploit its capital gains potentialA property that has been leased out under a finance leaseB.C.D.Ex1Answer BAsset A would be classed as a non-current asset held for sale under IFRS 5. Assets

4、C and D would both be classified as Property, Plant and Equipment per IAS 16.MeasurementInitial measurementAn investment property should be measured initially at its cost, including transaction costs.Measurement subsequent to initialrecognitionIAS 40 requires an entity to choose between two models.T

5、he fair value modelThe cost modelWhatever policy it chooses should be applied to all of its investment property.TransfersTransfersTransfers to or from investment property should only be made when there is a change in use. For example, owner occupation commences so the investment property will be tre

6、ated under IAS 16 as an owner-occupied property.Conversely, an owner-occupied property may become an investment property and need to be carried at fair value.An entity should apply IAS 16 up to the date of change of use.It should treat any difference at that date between the carrying amount of the p

7、roperty under IAS 16 and its fair value as a revaluation under IAS 16.Ex2Smithson Co purchased a new building with a 50 year life for $10 million on 1 January 20X3. On 30 June 20X5, Smithson Co moved out of the building and rented it out to third parties. Smithson Co uses the fair value model for in

8、vestment properties. At 30 June 20X5 the fair value of the property was $11 million and at 31 December 20X5 it was $11.5 million.What is the total net amount to be recorded in the statement of profit or loss in respect of the office for the year ended 31 December 20X5?A.B.C.D.Income $400,000 Income

9、$500,000 Income $1,900,000Income $2,000,000Ex2Answer ASix months depreciation should be accounted for up to 30 June 20X5, which is$100,000 expense ($10 million/50 years x 6/12).When the asset is transferred to investment property it should be revalued to the fair value of $11 million. At the date th

10、at the assets use is changed, this gain should be recorded in other comprehensive income and in a revaluation surplus, not in the statement of profit or loss.From this date, the fair value model is used. No depreciation is accounted for, but the asset will be revalued to fair value, with gains or losses going through the statement of profit or loss. As there is a gain of $500,000 from June 20X5 to December 20X5, this would be included in the statement of profit or loss.Therefore the total net income will be $400,000, being the $500,