Investment property accounting through the lens of convergence of the international standards
Keywords:
property, accounting, National AccountingRegulations (Standards), IFRS, lease, right of possession.Abstract
Modern condition of the investment property accounting methodological basis was assessed hereby. It was found that the existing methods do not comply with provisions of the property rights theory, as well as requirements of the international standards. The comparative analysis was performed with regard to the international and national statutory provisions, whereby issues of the investment property operations reporting in accounts are regulated. The Author’s methodology was proposed for reporting of the investment property operations in the accounting system, whereby fairness, completeness and accuracy of the accounting information reporting in the financial statements are improved.
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