I want to know about the flow of transaction in this sector.
1. How to record the transactions for REIT and which IFRS are applicable.
2. Which IFRS are applicable on REITs?
3. Whether IFRS 9 will be applicable on the investment properties or on the units issued to investors?
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Accounting for REITs
Replies (1)
REIT is classified as a puttable instrument and is classified through IFRS 9.
This means you have to give it an FVTPL investment treatment in the balance sheet.
IFRS 9 prescribes measurement and recognition for this instrument where you can find entries similar to mutual funds in my previous posts in my profile.
Investment properties fall under different standards namely: IAS 40, IAS 16 and IFRS 16 leases only.
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