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I had another question. Whenever there is a transfer from investment property to PPE or vice versa, what matters is the model at which the asset will prospectively be measured, is that right?
Like if Investment property is currently held at FV model, but it will be used by owner from today onwards at cost model, so then we don’t have to revalue the investment property before transfer, we will transfer the investmeptnet property at carrying amount.
Thank you in advance:)
Realistically in the exam any transfer would be between PPE (cost model) and IP (FV model).