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Tuesday 01 December 2015

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The Interpretations Committee decided to recommend that the Board should amend IAS 40

 04 November 2011

At the September 2011 meeting, the Interpretations Committee observed that IFRS 3 and IAS 40 Investment Property are not mutually exclusive. An entity acquiring an investment property should consider whether it meets the definition of a business as defined in Appendix A of IFRS 3. The Committee noted that the guidance in paragraphs 11-14 of IAS 40 on ancillary services is intended to delineate an investment property from owner-occupied property, and not to delineate a business combination from the acquisition of a single asset.

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