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Forensic Accounting

Investment Property

Our group owns a number of real estate property which are held for rental as well as capital appreciation purposes. This is the only business line of our group and we do not have any other revenue stream. We follow the fair value method as provided in IAS-40 to value our investment properties in the balance sheet.

Following are my questions:

1. Can we record fair value gain as our revenue on the face of income statement instead of presenting it as OCI ( as this is our main business)
2. Upon sale of any of these properties, can we record gain from sale as revenue instead of other income on disposal of investment properties (again for the same reason that this is our main business).

Answers with reference are appreciated.

asked Apr 13 in IAS 40 - Investment Property by Mian Musawar Level 3 Member (7,160 points)

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