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Ask the Tutor ACCA SBR

IFRS 16

Aaccastudent7y ago
When we have classifed right to use asset as Investment Property, what is the accounting treatment when the lease term ends ? Because we have not depreciated it , how we will account for its derecognition ?
P2-D2P2-D2Tutor7y ago#1
You would follow the usual rules as per IAS 40. Thanks
Aaccastudent7y ago#2
Can you guide me through the journal entries please because i'm getting confused When we derecognise Investment property we are effectively selling it and we receive cash in exchange But here we are not getting any considerarion in return so what will be the debit entry ? Thanks
P2-D2P2-D2Tutor7y ago#3
I presume that it would go through profit or loss. Thanks
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