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IAS 16 – Land which has not been developed

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IAS 16 – Land which has not been developed

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  • August 2, 2025 at 2:29 pm #718628
    nevada17
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    Hi,

    I was wondering about IAS 16 regarding land which has not yet been developed. This would be recognised as a tangible asset, so why do we not depreciate this and have an unlimited useful life?

    How do we record this in the FS?
    DR Expense in SOPL
    DR NCA in SOFP
    ?? I’m a bit confused?

    Thank you.

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