| 16.1 | This section applies to investment property and property interests held by a lessee under an operating lease that are classified as investment property (see paragraph 16.3). |
| 16.1A | This section does not apply to investment property rented to another group entity and transferred to property, plant and equipment (see paragraph 16.4A). [AMD 376] |
| AMD 376 Amendment Paragraph 16.1 amended and renumbered as 16.1A by Amendments to FRS 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland – Triennial review 2017 – Incremental improvements and clarifications (issued December 2017) Effective date 01/01/2019 Previous text 16.1 This section applies to accounting for investments in land or buildings that meet the definition of investment property in paragraph 16.2 and some property interests held by a lessee under an operating lease (see paragraph 16.3) that are treated like investment property. Only investment property whose fair value can be measured reliably without undue cost or effort on an on-going basis is accounted for in accordance with this section at fair value through profit or loss. All other investment property is accounted for as property, plant and equipment using the cost model in Section 17 Property, Plant and Equipment and remains within the scope of Section 17 unless a reliable measure of fair value becomes available and it is expected that fair value will be reliably measurable on an on-going basis. |
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