A practical guide to amended IAS 40

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Accounting for investment properties under construction

This publication addresses the questions arising when applying the amended IAS 40, ‘Investment property’.

The amended standard, published in May 2008, revised the scope and introduced new requirements for accounting for properties under construction or development for future use as investment properties. It applies prospectively for annual periods beginning on or after 1 January 2009, with early adoption permitted from before 1 January 2009 (provided the fair values of investment properties under construction were determined at the adoption date).

This 12-page guidance in question and answer format, looks at the scope and transition requirements, measurement provisions, recognition of fair value gains and losses, impairment of investment properties and provisions for onerous contracts, disclosure and other issues. It is available in PDF format only.