Modificaciones tras la concesión de la licencia

Requirements

Definition

An investment property is defined as ―a property (land or a building—or part of a building—or both) held to earn rentals or for capital appreciation or both, rather than for:

■ use in the production or supply of goods or services or for administrative purposes; or ■ sale in the ordinary course of business. (IAS 40. 5)

Recognition and measurement

Recognition criteria are the same as those for PPE defined by IAS 16 (existence of future economic benefits and cost measured reliably).

An investment property should be measured initially at its cost. The cost of a purchased investment property comprises its purchase price and any directly attributable expenditure (such as professional fees for legal services, property transfer taxes and so on). The initial cost of a property interest held under a financial lease is the lower of the fair value of the property and the present value of the minimum lease payments (as required in IAS 17).

IAS 40 permits an entity to choose as its accounting policy either the fair value model or the cost model. The chosen accounting policy is applied to all of its investment property.

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How starter kits meet IFRS requirements Version for SAP BusinessObjects Financial Consolidation, May 2010

Under the fair value model, investment property is measured at fair value, and changes in fair value are recognized in profit or loss. The fair value of investment property should reflect market conditions at the end of the reporting period.

Under the cost model, investment property is measured at depreciated cost less any accumulated impairment losses. Fair value of the investment property is disclosed.

Transfers

IAS 40 deals in detail with transfers to or from investment property. Transfers should be made when and only when there is a change of use.

If the entity uses the fair value model for investment property, the fair value at the date of transfer becomes the deemed cost for subsequent accounting under IAS 16 or IAS 2 when the investment property becomes owner-occupied property (reclassified to PPE) or is to be developed for sale (reclassified to inventories). Where an owner-occupied property becomes an investment property that will be carried at fair value, any difference at that date between the carrying amount of the property in accordance with IAS 16 and its fair value is treated in the same way as a revaluation in accordance with IAS 16.

For a transfer from inventories to investment property that will be carried at fair value, any difference between the fair value of the property at that date and its previous carrying amount should be recognized in profit or loss.

When an entity completes the construction or development of a self-constructed investment property that will be carried at fair value, any difference between the fair value of the property at that date and its previous carrying amount should be recognized in profit or loss.

Derecognition

An investment property should be derecognized (eliminated from the statement of financial position) on disposal or when the investment property is permanently withdrawn from use and no future economic benefits are expected from its disposal.

Gains or losses arising from the retirement or disposal of investment property are determined as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in profit or loss (unless IAS 17 requires otherwise on a sale and leaseback) in the period of the retirement or disposal.

In the starter kit

The starter kit includes three accounts for investment property: ■ A1210 for gross amount

■ A1211 for accumulated depreciation ■ A1212 for accumulated impairment losses The accounting schemes are described below.

Initial recognition

On acquisition of a new investment property, the flow F20 (acquisition) is used.

Subsequent measurement

The starter kit supports both methods: cost model and fair value model.

Depreciation and impairment

Depreciation charges are credited to the corresponding account (A1211) using flow F25. The P/L account to be used depends on the way depreciation charges are allocated (cost of sales, administrative expenses, and so on).

How starter kits meet IFRS requirements Version for SAP BusinessObjects Financial Consolidation, May 2010

The accounting scheme is the same for an impairment loss except that the account to be credited is the dedicated one (A1212). For reversals of impairment losses, the flow to be used is F35.

Fair value model

Changes in value are recorded using flow F55 for the asset side with a counterpart usually posted to account P1660 Operating fair value gains and losses.

Transfer

When an item is transferred from investment property to PPE or to inventories, the carrying amount is transferred from one account to the other using transfer flow F50.

When an item is transferred from PPE to investment property, it shall be first remeasured at fair value using flow F55 on the initial account (for example A1110 Lands and buildings), with the counterpart in the account E1510 Revaluation surplus using the same flow. Then, the new carrying amount is transferred from PPE to investment property using transfer flow F50.

When an item is transferred from inventories to investment property or from construction in progress to investment property, principles are the same as above except that remeasurement to fair value affects P&L (usually the account P1660 Operating fair value gains and losses) instead of other comprehensive income.

Derecognition

When an investment property is sold, the carrying amount is derecognized using flow F30. In the profit or loss, the gain or loss is recognized in the account P1611 Gain or loss on sale on investment property. When an investment property is written off, the flow to be used is flow F50 (no impact on P&L because the asset should have been fully depreciated or impaired before being derecognized).