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Accounting for investment properties under construction

A practical guide


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Deloitte China Real Estate Industry Practice launched its Accounting for Investment Properties under Construction – A Practical Guide to serve as a useful and practical resource in understanding the amended standard.

This guide outlines the amendment to HKAS 40 Investment Property ("HKAS 40") in 2008 and provides preparers with guidance as to how to apply the new requirements on various aspects. The amendment has resulted in a significant change in the accounting for investment properties under construction. Before the amendment, properties under construction or development for future use as investment properties were within the scope of HKAS 16 Property, Plant and Equipment and were measured at cost less impairment, if any. After the amendment, such properties are required to be accounted for as investment properties under HKAS 40.

This guide is written in questions and responses approach to provide guidance on the following aspects:

  • Scope
  • Measurement
  • Recognition of fair value gains or losses and transitional provisions
  • Transfers
  • Disclosures
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