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IAS 40 Investment Property
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- Ancillary services
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In certain cases an entity provides ancillary services such as maintenance and security services to the occupants of the investment property held by the entity. The significance of the expenditure may affect the classification of the property.
- Carrying amount
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The carrying amount is the amount at which an asset is recognized in the statement of financial position.
- Construction contract
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A construction contract is a contract specifically negotiated for the construction of an asset or a combination of assets that are closely interrelated or interdependent in terms of their design, technology, and function or their ultimate purpose or use.
- Cost
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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 recognized in accordance with the specific requirements of other IFRSs.
- Depreciable amount
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The depreciable amount is the cost of an asset, or other amount substituted for cost, less its residual value.
- Depreciation
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Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life.
- Fair value
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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.
- Impairment loss
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An impairment loss is the amount by which the carrying amount of an asset exceeds its recoverable amount.
- Inventory
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Inventories are assets held for sale in the ordinary course of business, or in the process of production for such sale, or in the form of materials or supplies to be consumed in the production process or in the rendering of services.
- Investment property
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An investment property is a 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 use in the production or supply of goods or services or for administrative purposes, or sale in the ordinary course of the business.
- Multi-use property
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A multi-use property is a property with more than one separately identifiable component. One component will be held for capital appreciation or rental income and the owner will occupy the other component. For example, an entity may own a building, which it uses in part as an administration building and in part to generate rental income.
- Owner-occupied property
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An owner-occupied property is a 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.
- Transaction costs
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Transaction costs are expenses that are directly attributable to the purchase of an investment property, such as property transfer fees and professional fees.
- Value-in-use
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Value-in-use is the present value of the future cash flows expected to be derived from an asset or cash-generating unit.