外文翻译投资性房地产.docx

1、外文翻译投资性房地产外文翻译-投资性房地产本科毕业论文(设计) 外 文 翻 译 外文题目 IAS 40 Investment Property 外文出处 International Accounting Standards? 外文作者 International Accounting Standards Committee 原文: IAS 40 Investment Property Objective The objective of this Standard is to prescribe the accounting treatment for investment property

2、and related disclosure requirements. Scope 1. This Standard should be applied in the recognition, measurement and disclosure of investment property. 2. Among other things, this Standard deals with the measurement in a lessees financial statements of investment property held under a finance lease and

3、 with the measurement in a lessors financial statements of investment property leased out under an operating lease. This Standard does not deal with matters covered in IAS 17, Leases, including: a classification of leases as finance leases or operating leases; b recognition of lease income earned on

4、 investment property see also IAS 18, evenue ; c measurement in a lessees financial statements of property held under an operating lease; d measurement in a lessors financial statements of property leased out under a finance lease; e accounting for sale and leaseback transactions; and f disclosure a

5、bout finance leases and operating leases. 3. This Standard does not apply to: a biological assets attached to land related to agricultural activity see IAS 41, Agriculture ; and b mineral rights, the exploration for and extraction of minerals, oil, natural gas and similar non-regenerative resources.

6、 Definitions 4. The following terms are used in this Standard with the meanings specified: Investment property is property land or a building - or part of a building - or both held by the owner or by the lessee under a finance lease to earn rentals or for capital appreciation or both, rather than fo

7、r: a use in the production or supply of goods or services or for administrative purposes; or b sale in the ordinary course of business. Owner-occupied property is property held by the owner or by the lessee under a finance lease for use in the production or supply of goods or services or for adminis

8、trative purposes. Fair value is the amount for which an asset could be exchanged between knowledgeable, willing parties in an arms length transaction. Cost is the amount of cash or cash equivalents paid or the fair value of other consideration given to acquire an asset at the time of its acquisition

9、 or construction. Carrying amount is the amount at which an asset is recognised in the balance sheet. 5. Investment property is held to earn rentals or for capital appreciation or both.Therefore, an investment property generates cash flows largely independently of the other assets held by an enterpr

10、ise. This distinguishes investment property from owneroccupied property. The production or supply of goods or services or the use of property for administrative purposes generates cash flows that are attributable not merely to property, but also to other assets used in the production or supply proce

11、ss.IAS 16, Property, Plant and Equipment, applies to owner-occupied property. 6. The following are examples of investment property: a land held for long-term capital appreciation rather than for short-term sale in the ordinary course of business; b land held for a currently undetermined future use.

12、If an enterprise has not determined that it will use the land either as owner-occupied property or for short-term sale in the ordinary course of business, the land is considered to be held for capital appreciation ; c a building owned by the reporting enterprise or held by the reporting enterprise u

13、nder a finance lease and leased out under one or more operating leases; and d a building that is vacant but is held to be leased out under one or more operating leases. 7. The following are examples of items that are not investment property and therefore fall outside the scope of this Standard: a pr

14、operty held for sale in the ordinary course of business or in the process of construction or development for such sale see IAS 2, Inventories , for example property acquired exclusively with a view to subsequent disposal in the near future or for development and resale; b property being constructed

15、or developed on behalf of third parties see IAS 11,Construction Contracts ; c owner-occupied property see IAS 16, Property, Plant and Equipment , including among other things property held for future use as owner-occupied property, property held for future development and subsequent use as owner-occ

16、upied property, property occupied by employees whether or not the employees pay rent at market rates and owner-occupied property awaiting disposal; and d property that is being constructed or developed for future use as investment property. IAS 16 applies to such property until construction or devel

17、opment is complete, at which time the property becomes investment property and this Standard applies. However, this Standard does apply to existing investment property that is being redeveloped for continued future use as investment property see paragraph 52 . 8. Certain properties include a portion

18、 that is held to earn rentals or for capital appreciation and another portion that is held for use in the production or supply of goods or services or for administrative purposes. If these portions could be sold separately or leased out separately under a finance lease , an enterprise accounts for t

19、he portions separately. If the portions could not be sold separately, the property is investment property only if an insignificant portion is held for use in the production or supply of goods or services or for administrative purposes. 9. In certain cases, an enterprise provides ancillary services t

20、o the occupants of a property held by the enterprise. An enterprise treats such a property as investment property if the services are a relatively insignificant component of the arrangement as a whole. An example would be where the owner of an office building provides security and maintenance servic

21、es to the lessees who occupy the building. 10. In other cases, the services provided are a more significant component. For example, if an enterprise owns and manages a hotel, services provided to guests are a significant component of the arrangement as a whole. Therefore, an owner-managed hotel is o

22、wner-occupied property, rather than investment property. 11. It may be difficult to determine whether ancillary services are so significant that a property does not qualify as investment property. For example, the owner of a hotel sometimes transfers certain responsibilities to third parties under a

23、 management contract. The terms of such management contracts vary widely. At one end of the spectrum, the owners position may, in substance, be that of a passive investor. At the other end of the spectrum, the owner may simply have outsourced certain day-to-day functions while retaining significant

24、exposure to variation in the cash flows generated by the operations of the hotel. 12. Judgement is needed to determine whether a property qualifies as investment property. An enterprise develops criteria so that it can exercise that judgement consistently in accordance with the definition of investm

25、ent property and with the related guidance in paragraphs 5 to 11. Paragraph 66 a requires an enterprise to disclose these criteria when classification is difficult. 13. Under IAS 17, Leases, a lessee does not capitalise property held under an operating lease. Therefore, the lessee does not treat its

26、 interest in such property as investment property. 14. In some cases, an enterprise owns property that is leased to, and occupied by, its parent or another subsidiary. The property does not qualify as investment property in consolidated financial statements that include both enterprises, because the

27、 property is owner-occupied from the perspective of the group as a whole. However, from the perspective of the individual enterprise that owns it, the property is investment property if it meets the definition in paragraph 4. Therefore, the lessor treats the property as investment property in its in

28、dividual financial statements. Recognition 15. Investment property should be recognised as an asset when, and only when: a it is probable that the future economic benefits that are associated with the investment property will flow to the enterprise; and b the cost of the investment property can be m

29、easured reliably. 16. In determining whether an item satisfies the first criterion for recognition, an enterprise needs to assess the degree of certainty attaching to the flow of future economic benefits on the basis of the available evidence at the time of initial recognition. The second criterion

30、for recognition is usually readily satisfied because the exchange transaction evidencing the purchase of the asset identifies its cost. Initial Measurement 17. An investment property should be measured initially at its cost. Transaction costs should be included in the initial measurement. 18. The co

31、st of a purchased investment property comprises its purchase price, and any directly attributable expenditure. Directly attributable expenditure includes, for example, professional fees for legal services, property transfer taxes and other transaction costs. 19. The cost of a self-constructed invest

32、ment property is its cost at the date when the construction or development is complete. Until that date, an enterprise applies IAS 16, Property, Plant and Equipment. At that date, the property becomes investment property and this Standard applies see paragraphs 51 e and 59 below . 20. The cost of an investment property is not increased by start-up costs unless they are necessary to bring the property to its working condition , initial operating losses incurred before the investment property achieves the planned level of occupancy or abnormal amounts of wasted