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Investment property

This topic has 3 replies, 2 voices, and was last updated 7 years ago by nari.

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November 23, 2017 at 3:44 am #417513
nari
Member
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Hello
If an entity buys land as inveatment property but then after some time decides to develop it to sell, should it be classes as construction in progress or remain as investment property?..the entity’s normal course of business does NOT include selling land.
Also at the time when the development has been completed and it is now ready for sale, should it be classed as assets held for sale?
November 23, 2017 at 4:11 am #417518
nari
Member
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Please disregard…this was answered.
November 25, 2017 at 11:15 am #417931
P2-D2
Keymaster
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OK. I’ll have a look at your other question early next week and get a simpler answer to you.
Thanks
November 26, 2017 at 6:22 pm #418116
nari
Member
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Ok looking forward to it, thanks.
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