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Sir whenever there’s a change of use of an asset to or from investment property then when remeasuring the asset what matters is whether investment property was measured or is going to measured at FV or not?
If it will be measured at FV then remeasure the PPE/inventory to FV.
If an investment property was measured at FV then before transfer remeasure Investment property to FV, is that right sir?
So everything depends on investment property valuation model, right?
Yes – depends whether IP is FV model or cost model
Most companies and questions have PPE at cost model and IP at FV model
professor so does this mean that if IP is measured at cost model, then its cost less depreciation will be the deemed cost for PPE(under both cost model and revaluation model), if there is a change of use and asset becomes PPE FROM IP?
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