ResearchBib Share Your Research, Maximize Your Social Impacts
Sign for Notice Everyday Sign up >> Login

Accounting for Investment Property in the Transition to IFRS

Journal: Oblik i finansi (Vol.1, No. 82)

Publication Date:

Authors : ;

Page : 5-10

Keywords : investment property; accounting; international financial reporting standards; transition; adjustments; reclassification; disclosure of information;

Source : Downloadexternal Find it from : Google Scholarexternal


The use of International Financial Reporting Standards (IFRS) in Ukraine determine the relevance of the study of transition procedures to IFRS. This fully applies to investment property because the investment property is a relatively new accounting category in our country. Besides the changes made in IAS 40 "Investment Property" in connection with the release of IAS 16 "Leases" are very ponderable. The purpose of the article is to determine the procedures related to the application of International Financial Reporting Standards to the accounting of investment property, taking into account the recent changes made in IAS 40 "Investment Property". To achieve this goal, the methods of induction and deduction, the monographic method, the methods of theoretical generalization and comparison were used. It was established that the differences between national and international investment property accounting standards make it necessary to apply appropriate adjustment procedures during the transition to IFRS. These procedures include clarification of the composition and value of investment property, its retraining, determination of the content and form of disclosure of information in the notes to the financial statements. The options for the reclassification of real estate and its reflection in the accounting system, taking into account the chosen model of investment property valuation, are investigated The analysis of the proposals of scientists on the construction of an analytical accounting of investment property was carry out. The algorithm for determining the approach to real estate accounting under IFRS and a method of forming notes to the financial statements in order to disclose logically-related information about investment property were proposed. Provided in the article proposals contribute the transition of domestic enterprises to international financial reporting standards.

Last modified: 2019-01-23 21:27:37