Question

can a vacant building owned by a parent company and to be leased out under an operating lease be recognized as intangible assets?​

Answer 1

Answer:

Good question

Explanation:

Think this way...not full details r given

IAS 40 Investment Property applies to the accounting for property (land and/or buildings) held to earn rentals or for capital appreciation (or both). Investment properties are initially measured at cost and, with some exceptions. may be subsequently measured using a cost model or fair value model, with changes in the fair value under the fair value model being recognised in profit or loss.

IAS 40 was reissued in December 2003 and applies to annual periods beginning on or after 1 January 2005.