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How land held by a non real estate company for resale purpose value it?

asked Apr 10, 2018 in General IFRS Discussion by anonymous

Land held for resale but the company is not a real estate company. Will it use IAS 2 for valuation purpose?

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answered Apr 11, 2018 by MHAGIG Level 2 Member (4.3k points)

No! you can't inventory is current Asset while Land is a Non-current asset and should value under IAS 16.

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