Buildings leased out under Operating Lease

This topic has 2 replies, 2 voices, and was last updated 5 years ago by Stephen Widberg.

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June 29, 2020 at 2:54 am #574900
ashray99
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Should buildings leased out under Operating Lease be accounted under IAS 40 Investment Property or under IFRS 16 Leases?
June 29, 2020 at 3:02 am #574901
ashray99
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As per the latest Kaplan Study Material Buildings leases out under an operating lease has been cited as an example under IAS 40 Investment Property.
But technically, shouldn’t it be accounted under IFRS 16 Leases?
June 29, 2020 at 12:03 pm #575084
Stephen Widberg
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Standard numbers are not relevant in the exam
Buildings leased out under OL are definitely IP; just as a car leased out under OL would be PPE
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