Silvia, I am on the course cource of watching all your IFRS videos on You tube... your videos are awesome. You are a garden and IFRS are flowers with you...thanks for your videos
Thank you Silvia for your support. I have a question on the base or reference of investment property useful life because currently i am struggling to estimate the useful life of a high rise building that just completed and I didn’t find a clear method to estimate the lifespan of the building. Your support is highly appreciated.
Great Video I had a doubt have a building which i give out on rent (short-period rentals like a week or month). During periods where the building is not rented out, I use it for my own admin purpose as my back office But just when I get a Lessee/Tenant for it, I stop using the building for my office purpose and give it out on rent So the doubt is whether I should follow IAS 40 or IAS 16 for the accounting of this building?
Hello, it depends. If your building is originally and you intentionally use it for rental, then use IAS 40. (this may also apply even if you use 'some part' of your building for admin purposes, since only an insignificant part of your property is used for admin purposes, thus, it will still be accounted for as inv. prop). However, if you changed your intention regarding the use of your building (as a whole), then you may follow the accounting for transfer from investment property to ppe and then ppe to investment property.
hello Silvia, this was a great video. can i ask one question what if only selected Investment were transfer from fmv to cost but only for 3 item with impeding case was it allow or already not complying with ias 40? thank and more power to you and your channel
Thank you Silvia, This is really helpful. I have a question about development properties accounting (When a developer is purchasing a land and constructing homes for selling with no intention to keep them for investment purposes. how we should treat those projects? |
question, how to determine the value of a property if there were no revaluation done for the current financial year but was only done in prior financial year?
No, she (me) does not actually mean the impairment test. Remeasurement is applicable when you apply FV model to your IP. If you apply cost model, then you do NOT remeasure FV, but instead, watch out for indicators of impairment and if there are any, you need to perform the impairment test.
i want to confirm something, because it get confusing..for gain from investment property measurement, revaluation surplus and gain on disposal, they should be recognised in other comprehensive income or profit or loss under other income? thank you..
No. In accordance with IAS 40, all gains and losses and also profit or loss are recognised in P/L, not OCI, UNLESS it is change of use to PPE IAS 16, or Inventory IAS 2
Gain/ loss from investment property goes to P&L account, whereas a revaluation result goes to Equity section of the balance sheet as a reserve account .
Inam, I explained it multiple times on my website. In most cases, start-up expenses do not meet the definition of an asset and thus they are expensed when incurred. Please browse my web for examples and closer explanation. Thanks!
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Silvia explained the concept in an easy to understand manner, which helps my self study A LOT. I really appreciate your work. Thank you!
This is the best lecture I've watched so far. Thank you! :) I hope you also post computations.
Respected Silvia,
Thank alot for your efforts.good work.Keep it up.GOD bless you.
Explanation of Accountings Standards was really good!
hey silvia,
really video nice for learning basis of ias 40, by the way your accent is also very nice
Mam your all videos are extremely good.
Silvia, I am on the course cource of watching all your IFRS videos on You tube... your videos are awesome. You are a garden and IFRS are flowers with you...thanks for your videos
Thanks Silvia.
Very great teaching.
Permanent subscriber!
Thank you Silvia for your support.
I have a question on the base or reference of investment property useful life because currently i am struggling to estimate the useful life of a high rise building that just completed and I didn’t find a clear method to estimate the lifespan of the building.
Your support is highly appreciated.
Very clear and easy to understand, thank you madam
Thank you so much
Great video.
Great Video
I had a doubt
have a building which i give out on rent (short-period rentals like a week or month).
During periods where the building is not rented out, I use it for my own admin purpose as my back office
But just when I get a Lessee/Tenant for it, I stop using the building for my office purpose and give it out on rent
So the doubt is whether I should follow IAS 40 or IAS 16 for the accounting of this building?
Hello, it depends. If your building is originally and you intentionally use it for rental, then use IAS 40. (this may also apply even if you use 'some part' of your building for admin purposes, since only an insignificant part of your property is used for admin purposes, thus, it will still be accounted for as inv. prop). However, if you changed your intention regarding the use of your building (as a whole), then you may follow the accounting for transfer from investment property to ppe and then ppe to investment property.
hello Silvia, this was a great video. can i ask one question what if only selected Investment were transfer from fmv to cost but only for 3 item with impeding case was it allow or already not complying with ias 40? thank and more power to you and your channel
thank you Silvia, appreciate your work
Thank you Silvia, This is really helpful. I have a question about development properties accounting (When a developer is purchasing a land and constructing homes for selling with no intention to keep them for investment purposes. how we should treat those projects? |
In that case we look to IAS 2 inventories. During construction the buildings are work in progress
great job summarizing the standards. could you also make some videos solving practical examples?
Hi Silvia! Does investment property only apply for Land or building, or part of building ? Or it also can apply to other assets too?
great madam short and precisely
thank you :)
thanks for lecture
Thanks alot
Thank U so much Can i have notes plz Mam ....
thnkssss a lottttt
Thank you
question, how to determine the value of a property if there were no revaluation done for the current financial year but was only done in prior financial year?
the re-measurement of IP, after each reporting period, does she actually mean the impairment test?
No, she (me) does not actually mean the impairment test. Remeasurement is applicable when you apply FV model to your IP. If you apply cost model, then you do NOT remeasure FV, but instead, watch out for indicators of impairment and if there are any, you need to perform the impairment test.
Thank you mam.
Didn’t understand the cost method
Thanks madam from India
Perfect
great one:)
thank you Madam, you make me to understand this topic.
i want to confirm something, because it get confusing..for gain from investment property measurement, revaluation surplus and gain on disposal, they should be recognised in other comprehensive income or profit or loss under other income?
thank you..
revaluation goes to other comprehensive income.
No. In accordance with IAS 40, all gains and losses and also profit or loss are recognised in P/L, not OCI, UNLESS it is change of use to PPE IAS 16, or Inventory IAS 2
Gain/ loss from investment property goes to P&L account, whereas a revaluation result goes to Equity section of the balance sheet as a reserve account .
Would you please explain "Start up costs" With examples
Inam, I explained it multiple times on my website. In most cases, start-up expenses do not meet the definition of an asset and thus they are expensed when incurred. Please browse my web for examples and closer explanation. Thanks!
@@CPDbox Thank You so much Ma'am your lectures are really helping me to grasp basic concepts.
in isa 40 initial measurement of cost shall be pv of future cash flow. isnt it the case with ias 16 also?
yes same case as IAS 16 as well.
+forza milanista thnx alot
Upload few more videos on indas
cool!!!
thank you