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is this the fine line which distinguish a property held for sale or property held for capital appreciation is that investment property is for long term capital appreciation and HFS is for short term(1 year ) ?
IAS 40 is held for investment potential (either for return on investment or for capital appreciation or both)
IFRS 5 property is either acquired for sale or has been classified as held for sale having previously been used. Under IFRS 5, the asset must be being actively marketed at a price the owner is willing to sell at. Asset must be available for immediate sale and the owner must be committed to the sale. The sale should be highly likely within the next twelve months
So, if it’s an IFRS 5 property, it cannot be an IAS 40 property and vice versa.
Keyboard, your answer / response is singularly unhelpful – “no …not possible..and never write that in answer copy” is of a value which ranges from quite useless to totally useless
Whereas contributions to the site are generally encouraged, if you cannot do better than that, then please stay away from the “Ask the tutor” page. Thanks 🙂
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