A company has built some flats, some they have sold and some they haven't they have rented these out.
The ones they are renting out we are moving into investment properties.
Under FRS102 i was going to do the follow enteries i would just like clarification that this is correct:
Credit cost of sales for the build costs
Debit investment properties
Then revalue the properties at fair value and either debit or credit investment properties and revaluation account in the p&l