Hi sir. Let’s say we are a company who have a property that we do not use for ourselves, but we lease it to others on a operating lease. And we account for all investment properties, using the fair value model.
Since its a operating lease, the asset will still be ours and therefore we can recognise it as a investment property in our financial statements right sir? Therefore, we will not depreciate the asset but will conduct a fv exercise at each year end.. any gains or losses on revaluation will go to the statement of profit or loss right sir ?