国际会计准则40外文翻译文档格式.docx
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国际会计准则40外文翻译文档格式.docx
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InternationalAccountingStandard40
InvestmentPropertyScope
1ThisStandardshallbeappliedintherecognition,measurementanddisclosureofinvestmentproperty.
2Investmentpropertyisheldtoearnrentalsorforcapitalappreciationorboth.Therefore,aninvestmentpropertygeneratescashflowslargelyindependentlyoftheotherassetsheldbyanentity.Thisdistinguishesinvestmentpropertyfromowner-occupiedproperty.Theproductionorsupplyofgoodsorservices(ortheuseofpropertyforadministrativepurposes)generatescashflowsthatareattributablenotonlytoproperty,butalsotootherassetsusedintheproductionorsupplyprocess.IAS3Property,PlantandEquipmentappliestoowner-occupiedproperty.
Recognition
15Investmentpropertyshallberecognisedasanassetwhen,andonlywhen:
(a)itisprobablethatthefutureeconomicbenefitsthatareassociatedwiththeinvestmentpropertywillflowtotheentity;
and
(b)thecostoftheinvestmentpropertycanbemeasuredreliably.
Measurementatrecognition
4Aninvestmentpropertyshallbemeasuredinitiallyatitscost.Transactioncostsshallbeincludedintheinitialmeasurement.
5Thecostofapurchasedinvestmentpropertycomprisesitspurchasepriceandanydirectlyattributableexpenditure.Directlyattributableexpenditureincludes,forexample,professionalfeesforlegalservices,propertytransfertaxesandothertransactioncosts.
Measurementafterrecognition
6ThisStandardrequiresallentitiestodeterminethefairvalueofinvestmentproperty,forthepurposeofeithermeasurement(iftheentityusesthefairvaluemodel)ordisclosure(ifitusesthecostmodel).Anentityisencouraged,butnotrequired,todeterminethefairvalueofinvestmentpropertyonthebasisofavaluationbyanindependentvaluerwhoholdsarecognisedandrelevantprofessionalqualificationandhasrecentexperienceinthelocationandcategoryoftheinvestmentpropertybeingvalued.
Fairvaluemodel
7Afterinitialrecognition,anentitythatchoosesthefairvaluemodelshallmeasureallofitsinvestmentpropertyatfairvalue,exceptinthecasesdescribedinparagraph47.
8Againorlossarisingfromachangeinthefairvalueofinvestmentpropertyshallberecognisedinprofitorlossfortheperiodinwhichitarises.
9Thefairvalueofinvestmentpropertyisthepriceatwhichthepropertycouldbeexchangedbetweenknowledgeable,willingpartiesinanarm’slengthtransaction(seeparagraph5).Fairvaluespecificallyexcludesanestimatedpriceinflatedordeflatedbyspecialtermsorcircumstancessuchasatypicalfinancing,saleandleasebackarrangements,specialconsiderationsorconcessionsgrantedbyanyoneassociatedwiththesale.
10Anentitydeterminesfairvaluewithoutanydeductionfortransactioncostsitmayincuronsaleorotherdisposal.
11Thefairvalueofinvestmentpropertyshallreflectmarketconditionsattheendofthereportingperiod.ECstaffconsolidatedversionasof16September2009,EN–EUIAS40FORINFORMATIONPURPOSESONLY
12Fairvalueistime-specificasofagivendate.Becausemarketconditionsmaychange,theamountreportedasfairvaluemaybeincorrectorinappropriateifestimatedasofanothertime.Thedefinitionoffairvaluealsoassumessimultaneousexchangeandcompletionofthecontractforsalewithoutanyvariationinpricethatmightbemadeinanarm’slengthtransactionbetweenknowledgeable,willingpartiesifexchangeandcompletionarenotsimultaneous.
13Thefairvalueofinvestmentpropertyreflects,amongotherthings,rentalincomefromcurrentleasesandreasonableandsupportableassumptionsthatrepresentwhatknowledgeable,willingpartieswouldassumeaboutrentalincomefromfutureleasesinthelightofcurrentconditions.Italsoreflects,onasimilarbasis,anycashoutflows(includingrentalpaymentsandotheroutflows)thatcouldbeexpectedinrespectoftheproperty.Someofthoseoutflowsarereflectedintheliabilitywhereasothersrelatetooutflowsthatarenotrecognisedinthefinancialstatementsuntilalaterdate(egperiodicpaymentssuchascontingentrents).
14Thedefinitionoffairvaluerefersto‘knowledgeable,willingparties’.Inthiscontext,‘knowledgeable’meansthatboththewillingbuyerandthewillingsellerarereasonablyinformedaboutthenatureandcharacteristicsoftheinvestmentproperty,itsactualandpotentialuses,andmarketconditionsattheendofthereportingperiod.Awillingbuyerismotivated,butnotcompelled,tobuy.Thisbuyerisneitherover-eagernordeterminedtobuyatanyprice.Theassumedbuyerwouldnotpayahigherpricethanamarketcomprisingknowledgeable,willingbuyersandsellerswouldrequire.tosellatanyprice,noronepreparedtoholdoutforapricenotconsideredreasonableincurrentmarketconditions.Thewillingsellerismotivatedtoselltheinvestmentpropertyatmarkettermsforthebestpriceobtainable.Thefactualcircumstancesoftheactualinvestmentpropertyownerarenotapartofthisconsiderationbecausethewillingsellerisahypotheticalowner(egawillingsellerwouldnottakeintoaccounttheparticulartaxcircumstancesoftheactualinvestmentpropertyowner).
15Thedefinitionoffairvaluereferstoanarm’slengthtransaction.Anarm’slengthtransactionisonebetweenpartiesthatdonothaveaparticularorspecialrelationshipthatmakespricesoftransactionsuncharacteristicofmarketconditions.Thetransactionispresumedtobebetweenunrelatedparties,eachactingindependently.
16Thebestevidenceoffairvalueisgivenbycurrentpricesinanactivemarketforsimilarpropertyinthesamelocationandconditionandsubjecttosimilarleaseandothercontracts.Anentitytakescaretoidentifyanydifferencesinthenature,locationorconditionoftheproperty,orinthecontractualtermsoftheleasesandothercontractsrelatingtotheproperty.
17Intheabsenceofcurrentpricesinanactivemarketofthekinddescribedinparagraph45,anentityconsidersinformationfromavarietyofsources,including:
(a)currentpricesinanactivemarketforpropertiesofdifferentnature,conditionorlocation(orsubjecttodifferentleaseorothercontracts),adjustedtoreflectthosedifferences;
(b)recentpricesofsimilarpropertiesonlessactivemarkets,withadjustmentstoreflectanychangesineconomicconditionssincethedateofthetransactionsthatoccurredatthoseprices;
(c)discountedcashflowprojectionsbasedonreliableestimatesoffuturecashflows,supportedbythetermsofanyexistingleaseandothercontractsand(whenpossible)byexternalevidencesuchas
currentmarketrentsforsimilarpropertiesinthesamelocationandcondition,andusingdiscountratesthatreflectcurrentmarketassessmentsoftheuncertaintyintheamountandtimingofthecash
flows.
18Insomecases,thevarioussourceslistedinthepreviousparagraphmaysuggestdifferentconclusionsaboutthefairvalueofaninvestmentproperty.Anentityconsidersthereasonsforthosedifferences,inordertoarriveatthemostreliableestimateoffairvaluewithinarangeofreasonablefairvalueestimates.ECstaffconsolidatedversionasof16September2009,EN–EUIAS40FORINFORMATIONPURPOSESONLY
19Inexceptionalcases,thereisclearevidencewhenanentityfirstacquiresaninvestmentproperty(orwhenanexistingpropertyfirstbecomesinvestmentpropertyafterachangeinuse)thatthevariabilityintherangeofreasonablefairvalueestimateswillbesogreat,andtheprobabilitiesofthevariousoutcomessodifficulttoassess,thattheusefulnessofasingleestimateoffairvalueisnegated.Thismayindicatethatthefairvalueofthepropertywillnotbereliablydeterminableonacontinuingbasis(seeparagraph47).
20Fairvaluediffersfromvalueinuse,asdefinedinIAS36ImpairmentofAssets.Fairvaluereflectstheknowledgeandestimatesofknowledgeable,willingbuyersandsellers.Incontrast,valueinusereflectstheentity’sestimates,includingtheeffectsoffactorsthatmaybespecifictotheentityandnotapplicabletoentitiesingeneral.Forexample,fairvaluedoesnotreflectanyofthefollowingfactorstotheextentthattheywouldnotbegenerallyavailabletoknowledgeable,willingbuyersandsellers:
(a)additionalvaluederivedfromthecreationofaportfolioofpropertiesindifferentlocations;
(b)synergiesbetweeninvestmentpropertyandotherassets;
(c)legalrightsorlegalrestrictionsthatarespecificonlytothecurrentowner;
(d)taxbenefitsortaxburdensthatarespecifictothecurrentowner.
21Indeterminingthecarryingamountofinvestmentpropertyunderthefairvaluemodel,anentitydoesnotdouble-countassetsorliabilitiesthatarerecognisedasseparateassetsorliabilities.Forexample:
(a)equipmentsuchasliftsorair-conditioningisoftenanintegralpartofabuildingandisgenerallyincludedinthefairvalueoftheinvestmentproperty,ratherthanrecognisedseparatelyasproperty,plantandequipment.
(b)ifanofficeisleasedonafurnishedbasis,thefairvalueoftheofficegenerallyincludesthefairvalueofthefurniture,becausetherentalincomerelatestothefurnishedoffice.Whenfurnitureisincludedinthefairvalueofinvestmentproperty,anentitydoesnotrecognisethatfurnitureasaseparateasset.
(c)thefairvalueofinvestmentpropertyexcludesprepaidoraccruedoperatingleaseincome,becausetheentityrecognisesitasaseparateliabilityorasset.
22Thefairvalueofinvestmentpropertydoesnotreflectfuturecapitalexpenditurethatwillimproveorenhancethepropertyanddoesnotreflecttherelatedfuturebenefitsfromthisfutureexpen
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