For reporting periods ending on or after 31 January 2020, the effects of the COVID-19 would need to be incorporated into the preparation of financial statements. The financial reporting implications will depend on the facts and circumstances of each entity. The following are some of the financial reporting considerations that entities and engagement teams need … Continue reading Effects of the COVID-19 on 2020 Reporting Periods
Category: C3 – IAS 40
IAS 40 – Investment Property
An investment property is land or buildings or both, that is held by an entity to earn rentals and/or for its capital appreciation potential. One of the distinguishing characteristics of investment property is that it generates cash flows largely independent of the other assets held by an entity. The following are not investment property: Property … Continue reading IAS 40 – Investment Property