What is meant by Owner-occupied property in international accounting standards?
Owner-occupied property are such assets that are held by the entity for use in production or provision of services in the ordinary course of business. This is exactly those assets that are discussed under IAS 16 Property Plant and Equipment. For example, building that holds production machinery and machinery itself are both owner-occupied property. However, […]
What is Investment property?
Investment property is such asset that is acquired or constructed by the entity to earn profits instead of using the asset in the ordinary course of business. Intentions behind such assets are different from usual asset in a way that are not used to produce goods or provide services that are actual business of the […]
