IAS40 BV2009 - IAS 40 International Accounting Standard 40...

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IAS 40 International Accounting Standard 40 Investment Property This version includes amendments resulting from IFRSs issued up to 31 December 2008. IAS 40 Investment Property was issued by the International Accounting Standards Committee in April 2000. In April 2001 the International Accounting Standards Board (IASB) resolved that all Standards and Interpretations issued under previous Constitutions continued to be applicable unless and until they were amended or withdrawn. In December 2003 the IASB issued a revised IAS 40. Since then, IAS 40 and its accompanying documents have been amended by the following IFRSs: IFRS 2 Share-based Payment (issued February 2004) IFRS 4 Insurance Contracts (issued March 2004) IFRS 5 Non-current Assets Held for Sale and Discontinued Operations (issued March 2004) IAS 1 Presentation of Financial Statements (as revised in September 2007) 1 Improvements to IFRSs (issued May 2008). 2 The following Interpretation refers to IAS 40 (as revised in 2003): SIC-21 Income Taxes—Recovery of Revalued Non-Depreciable Assets (issued July 2000 and subsequently amended). 1 effective date 1 January 2009 2 effective date 1 January 2009 © IASCF 1
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IAS 40 C ONTENTS paragraphs INTRODUCTION IN1–IN18 INTERNATIONAL ACCOUNTING STANDARD 40 INVESTMENT PROPERTY OBJECTIVE 1 SCOPE 2–4 DEFINITIONS 5–15 RECOGNITION 16–19 MEASUREMENT AT RECOGNITION 20–29 MEASUREMENT AFTER RECOGNITION 30–56 Accounting policy 30–32C Fair value model 33–55 Inability to determine fair value reliably 53–55 Cost model 56 TRANSFERS 57–65 DISPOSALS 66–73 DISCLOSURE 74–79 Fair value model and cost model 74–79 Fair value model 76–78 Cost model 79 TRANSITIONAL PROVISIONS 80–84 Fair value model 80–82 Cost model 83–84 EFFECTIVE DATE 85–85B WITHDRAWAL OF IAS 40 (2000) 86 APPROVAL BY THE BOARD OF IAS 40 ISSUED IN DECEMBER 2003 IASB BASIS FOR CONCLUSIONS ON IAS 40 (AS REVISED IN 2003) IASC BASIS FOR CONCLUSIONS ON IAS 40 (2000) 2 © IASCF
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IAS 40 International Accounting Standard 40 Investment Property (IAS 40) is set out in paragraphs 1–86. All the paragraphs have equal authority but retain the IASC format of the Standard when it was adopted by the IASB. IAS 40 should be read in the context of its objective and the IASB’s Basis for Conclusions, the Preface to International Financial Reporting Standards and the Framework for the Preparation and Presentation of Financial Statements . IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies in the absence of explicit guidance. © IASCF 3
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IAS 40 Introduction IN1 International Accounting Standard 40 Investment Property (IAS 40) replaces IAS 40 Investment Property (issued in 2000), and should be applied for annual periods beginning on or after 1 January 2005. Earlier application is encouraged. Reasons for revising IAS 40
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IAS40 BV2009 - IAS 40 International Accounting Standard 40...

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