CONTENTS

COMPILATION DETAILS

COMPARISON WITH IAS 40

Accounting Standard

AASB 140 Investment Property

Paragraphs

Objective 1

Application Aus1.1  Aus1.5

Reduced Disclosure Requirements Aus1.6 – Aus1.8

Scope 2  4

Definitions 5

Classification of Property as Investment Property or Owner-occupied Property 6  15

Recognition 16  19

Measurement at Recognition 20  29

Measurement after Recognition

Accounting Policy 30  32C

Fair Value Model 33  52

Inability to Measure Fair Value Reliably 53  55

Cost Model 56

Transfers 57  65

Disposals 66  73

Disclosure

Fair Value Model and Cost Model 74  75

Fair Value Model 76  78

Cost Model 79

Transitional Provisions

Business Combinations 84A

Effective Date 85B  85E

DELETED IAS 40 TEXT Page 18

BASIS FOR CONCLUSIONS ON IAS 40

(available on the AASB website)

Australian Accounting Standard AASB 140 Investment Property (as amended) is set out in paragraphs 1  85E. All the paragraphs have equal authority. Terms defined in this Standard are in italics the first time they appear in the Standard. AASB 140 is to be read in the context of other Australian Accounting Standards, including AASB 1048 Interpretation of Standards, which identifies the Australian Accounting Interpretations. In the absence of explicit guidance, AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies.