Immovable property consists of land and buildings. This two-hour session will give a concise overview of all relevant considerations in connection with immovable property (contrasting between IFRS and GAPSME when suitable):
(1) Is the immovable property classified as property, plant and equipment, investment property, or inventory?
(2) How is immovable property measured following initial recognition? Are land and buildings accounted for alike? How are events such as changes in use and disposals treated?
(3) How are aspects such as impairment of immovable property, deferred tax and immovable property purchased in foreign currency treated?
Short, practical examples will be covered throughout the seminar.