Investment Properties FRS102

Do these qualify as investment properties?

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Do these qualify as investment properties for the purposes of FRS 102?

1. A client buys properties, renovates and sells.  Usually there is a property in stocks and the sale occurs the following year.

2. A client built a warehouse, used it for business purposes and has recently sold it (in the year that he would have to prepare his first FRS accounts)

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By Yalnif
20th Apr 2017 14:17

Neither would be Investment Properties.

1. Should be classed as stock / wip at the year end.
2. This would be freehold property and subject to appropriate depreciation.

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