The production or supply of goods or services (or STANDARD 16 INVESTMENT PROPERTY (PBE IPSAS 16) Issued May 2013 . In late 2003, the IPSASBs predecessor, the Public Sector Committee (PSC),2 actioned an IPSAS improvements project to converge, where appropriate, IPSASs with the improved IASs issued in December 2003. 16: Investment Property Diese Standards sind als Emp- fehlungen zum Rechnungswesen und zur Rechnungslegung explizit für den öffentlichen Sektor entwickelt worden. h�b```f``Rb`2�x�(������ �-��ץ�7���0F�S^rk���ے�%��� IPSAS 16—INVESTMENT PROPERTY Objective The objective of this International Public Sector Accounting Standard is to prescribe the accounting treatment for investment property and related disclosure requirements. 13. The UN IPSAS Policy Framework The UN IPSAS Implementation Project Page 1 of 216 United Nations Policy Framework for International Public Sector PBE IPSAS 16: INVESTMENT PROPERTY Effective Periods Beginning Version 1: 2014 1 April 2015 CLASSIFICATION Property held under an operating lease A property interest that is held by a lessee under an operating lease may be classified and accounted for as investment property on the fair value model provided that: The rest of the definition of investment property is met. IPSAS 21: Impairment of Non-Cash-Generating Assets 175. The objective of this Standard is to prescribe the accounting treatment for property, plant and equipment so that users of financial statements can discern information about an entity’s investment in its property, plant and equipment and the changes in such investment. This Standard does not apply to investment property. 163 0 obj <>/Filter/FlateDecode/ID[<2822AD47BB710DCE65CC9C469B99BE24>]/Index[157 17]/Info 156 0 R/Length 52/Prev 134466/Root 158 0 R/Size 174/Type/XRef/W[1 2 1]>>stream An entity which prepares and presents financial statements under the accrual basis of accounting should apply this Standard in accounting for investment property. Terms of service • Privacy policy • Editorial independence. This Standard is a Regulation for the purpose of the Regulations (Disallowance) Act 1989. IPSAS No. Definitions 8. Net changes in cash pool investments . Objective: To prescribe the accounting treatment for investment property and related disclosures. �^ ��`��3�0}���J�كSL �&ѓ@�@����z�g�0 �X} IPSAS 19 Provisions, Contingent Liabilities, Contingent Assets. It also includes the Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities. IPSAS 16 Investment Property IAS 40 IPSAS 17 Property, Plant and Equipment IAS 16 IPSAS 18 Segment Reporting IAS 14 IPSAS 19 Provisions, Contingent Liabilities and Contingent Assets IAS 37 IPSAS 20 Related Party Disclosures IAS 24 IPSAS 21 Impairment of Non-Cash-Generating Assets IAS 36 . The operating lease is accounted for as if it were a finance lease in accordance with PBE IPSAS 13-Leases; AND The lessee uses the fair value model set out in PBE IPSAS 16 for all investment properties. IPSAS 16 – Investment Property; IPSAS 17 – Property, Plant and Equipment; IPSAS 18 – Segment Reporting; IPSAS 19 – Provisions, Contingent Liabilities and Contingent Assets; IPSAS 20 – Related Party Disclosures; Articles; Other Courses; Ask an Expert; Contact Us; Login. 15 . However, IAS 16 is dedicated to treating non-current assets used for business operations whereas IAS 40 is predominantly concerned with non-current assets held for rental, capital appreciation or for both. 173 0 obj <>stream Net changes in cash pool investments . IPSAS 16 Investment Property . investment property (IPSAS ® 16) impairment of cash generating assets (IPSAS® 26) impairment of non-cash generating assets (IPSAS® 21) borrowing costs (IPSAS® 5) inventories (IPSAS® 12) consolidation under the cash basisleases (IPSAS® 13) ®financial instruments (IPSAS 28, 29, 30) provisions contingent liabilities and contingent assets (IPSAS® 19) events after the reporting date (IPSAS … The UN IPSAS Policy Framework The UN IPSAS Implementation Project Page 1 of 216 United Nations Policy Framework for International Public Sector Principal definitions. IPSAS 12 applies to the obligations for dismantling, removing and restoring that are incurred during the period of using the item to produce inventories. 15, 26 . %%EOF IAS 40, Investment Property. Sync all your devices and never lose your place. This Handbook contains the complete International Public Sector Accounting Standards, published as of January 31, 2019. 157 0 obj <> endobj Transfer to Investment IPSAS-16 provides for the following accounting recognition on transfer of an owner occupied property valued under IPSAS-17 to investment property: 72. [Not used] 10. Get IPSAS Explained: A Summary of International Public Sector Accounting Standards, 2nd Edition now with O’Reilly online learning. Instruments: Presentation; IPSAS 29, Financial Instruments: Recognition and Measurement; and IPSAS 30, Financial Instruments: Disclosures. These Standards apply for annual financial statements covering periods beginning on or after January 1, 2013. Investment property is held to earn rentals or for capital appreciation, or both. Get unlimited access to books, videos, and. O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers. The requirements are very similar to the current guidance in IPSAS 7, Investment in Associates. About This Course. 16: Investment Property Objective: To prescribe the accounting treatment for investment property and related disclosures. Investment property (IPSAS 16) Impairment of cash generating assets (IPSAS 26) Impairment of non-cash generating assets (IPSAS 21) Borrowing costs (IPSAS 5) Inventories (IPSAS 12) Leases (IPSAS 13) Financial instruments (IPSAS 28, 29, 30) Agriculture (IPSAS 27) Accounting for Liabilities.