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Educational Material on Ind AS 40 Investment Property

Ind AS 40 Investment Property : Ind AS 40 Investment Property applies to the accounting for property (land and/or buildings) held to earn rentals or for capital appreciation (or both). Investment properties are initially measured at cost and, with some exceptions. may be subsequently measured using a cost model or fair value model, with changes in the fair value under the fair value model being recognised in profit or loss. Ind AS 40 was reissued in December 2003 and applies to annual periods beginning on or after 1 January 2005.

History of Ind AS 40

Date Development Comments
October 1984 Exposure Draft E26 Accounting for Investments published  
March 1986 Ind AS 25 Accounting for Investments issued Operative for financial statements covering periods beginning on or after 1 January 1987
July 1999 Exposure Draft E64 Investment Property published Comment deadline 31 October 1999
April 2000 Ind AS 40 Investment Property (2000) issued
(Supersedes Ind AS 25 with respect to investment property)
Operative for annual financial statements covering periods beginning on or after 1 January 2001
May 2002 Exposure Draft Improvements to International Accounting Standards (2000) published Comment deadline 16 September 2002
18 December 2003 Ind AS 40 Investment Property (2003) issued Effective for annual periods beginning on or after 1 January 2005
22 May 2008 Amended by Annual Improvements to IFRSs 2007 (include property under construction or development for future use within scope) Effective for annual periods beginning on or after 1 January 2009
12 December 2013 Amended by Annual Improvements to IFRSs 2011–2013 Cycle (interrelationship between IFRS 3 and Ind AS 40) Effective for annual periods beginning on or after 1 July 2014

Educational Material on Ind AS 40 Investment Property

Ind AS 40 Investment Property : Investment property Investment Property is property (land or building or part of a building or both) held to earn rentals or for capital appreciation or both. Rather than for –  Use in the production or supply  Sale in the ordinary course of business Definitions.  Classification of Property Investment property – Land or building, or part of a building, or both, held by the owner or the lessee under a finance lease to earn rentals and/or for capital appreciation, rather than for: use in production or supply of goods and services or use in administrative purposes or sale in the ordinary course of business.

The following terms are used in this Standard with the meanings specified:

Carrying amount is the amount at which an asset is recognised in the balance sheet. Cost is the amount of cash or cash equivalents paid or the fair value of other consideration given to acquire an asset at the time of its acquisition or construction or, where applicable, the amount attributed to that asset when initially recognised in accordance with the specific requirements of other Ind ASs, eg Ind AS 102, Sharebased Payment. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. (See Ind AS 113, Fair Value Measurement). Investment property is property (land or a building—or part of a building—or both) held (by the owner or by the lessee under a finance lease) to earn rentals or for capital appreciation or both, rather than for:

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(a) use in the production or supply of goods or services or for administrative purposes; or

(b) sale in the ordinary course of business.

Owner-occupied property is property held (by the owner or by the lessee under a finance lease) for use in the production or supply of goods or services or for administrative purposes.

Objective of Ind AS 40 

The objective of this Standard is to prescribe the accounting treatment for investment property and related disclosure requirements.

Scope of Ind AS 40 

This Standard shall be applied in the recognition, measurement and disclosure of investment property. 3 Among other things, this Standard applies to the measurement in a lessee’s financial statements of investment property interests held under a lease accounted for as a finance lease and to the measurement in a lessor’s financial statements of investment property provided to a lessee under an operating lease.

Relevant link to download the Educational Material: Ind AS 40 Investment Property

Educational Material on Ind AS 40 Investment Property 

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Educational Material on Ind AS 103 Business Combinations

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Educational Material on Ind AS 105 Non current Assets Held for Sale and Discontinued Operations

Educational Material on Ind AS 106 Exploration for and Evaluation of Mineral Resources

Educational Material on Ind AS 107 Financial Instruments : Disclosures

Educational Material on Ind AS 108 Operating Segments

Educational Material on Ind AS 1 Presentation of Financial Statements

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Educational Material on Ind AS 7 Statement of Cash Flows

Educational Material on Ind AS 8 Accounting Policies, Changes in Accounting Estimates and Errors

Educational Material on Ind AS 10 Events after the Reporting Period

Educational Material on Ind AS 11 Construction Contracts

Educational Material on Ind AS 12 Income Taxes

Educational Material on Ind AS 16 Property, Plant and Equipment

Educational Material on Ind AS 17 Leases

Educational Material on Ind AS 18 Revenue

Educational Material on Ind AS 19 Employee Benefits

Educational Material on Ind AS 20 Accounting for Government Grants and Disclosure of Government Assistance

Educational Material on Ind AS 21 The Effects of Changes in Foreign Exchange Rates

Educational Material on Ind AS 23 Borrowing Costs

Educational Material on Ind AS 24 Related Party Disclosures

Educational Material on Ind AS 27 Consolidated and Separate Financial Statements

Educational Material on Ind AS 28 Investments in Associates

Educational Material on Ind AS 29 Financial Reporting in Hyper-inflationary Economies

Educational Material on Ind AS 31 Interests in Joint Ventures

Educational Material on Ind AS 32 Financial Instruments and Presentation

Educational Material on Ind AS 33 Earnings per Share

Educational Material on Ind AS 34 Interim Financial Reporting

Educational Material on Ind AS 36 Impairment of Assets

Educational Material on Ind AS 37 Provisions, Contingent Liabilities and Contingent Assets

Educational Material on Ind AS 38 Intangible Assets

Educational Material on Ind AS 39 Financial Instruments: Recognition and Measurement

Educational Material on Difference between Ind as 27 and 21 

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Educational Material on Ind AS 40 Investment Property

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