Question

Which of the following investments are covered under the scope of Ind AS -40?

Q: Answer- Which of the following investments are covered under the scope of Ind AS -40?

Ind AS 40, Investment Property, covers land or buildings or parts thereof held by the owner or by the lessee as a right-of-use asset to earn rentals, for capital appreciation, or both. AS- 13 covers the following investments o assets that have no physical existence and are represented merely by certificates or similar documents e.g., shares o assets that exist in a physical form e.g., buildings The new IFRS compliant Ind AS 40 deals only in investment Property, whereas investments in financial instruments is covered under o Ind AS109 relating to recognition, measurement, o Ind AS 107 relating to disclosures o Ind AS113 relating to fair value measurements.