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An entity is required to disclose fair value of its investment properties even if it applies cost model for measurement.
The fair value is to be measured based on a valuation carried out by an independent valuer who holds a recognised and relevant professional qualification and has recent experience in the location and category of the investment property being valued. The name and qualification of the valuer is to be disclosed.
"Investment property is property held to earn rentals or for capital appreciation or both, rather than for:
(a) use in the production or supply of goods or services or for administrative purposes; or
(b) sale in the ordinary course of business."
KSA IFRS CONVERSIONHYPHEN POINTS TO KNOW (PTK) SERIES
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