企业会计准则投资性房地产英文财政部

Accounting Standard for Business Enterprises No.3—Investment Property

Chapter 1 General Provisions

Article 1 This standard is formulated in accordance with the “Accounting standard for Business Enterprises—Basic Standard”for the purpose of prescribing the recognition and measurement of investment property and the disclosure of related information.

Article 2 Investment property is property held to earn rentals or for capital appreciation or both.

Article 3 The following items of investment property are dealt with by this standard:

(a)a land use right that is leased out.

(b)a land use right held for transfer upon capital appreciation.

(c)a building that is leased out.

Article 4 The following items are not investment property:

(a)owner-occupied property, i.e.property held for use in the production or supply of goods or services or for administrative purposes.

(b)property held as inventories.

Article 5 the following items are dealt with under other appropriate Accounting Standards:

(a)property constructed on behalf of others, which are dealt with under “Accounting standard for Business Enterprises No.15—Construction Contracts”.

(b)rental income from, and sale and lease back of, investment property, which are dealt with under “Accounting standard for Business Enterprises No.21—Leases”.

Chapter 2 Recognition and Initial

Measurement

Article 6 Investment property shall be recognized as asset when, and only when both of the following conditions are satisfied:

(a)it is probable that the future economic benefits that are associated with the investment property will flow to the enterprise;

(b)the cost of the investment property can be measured reliably.

Article 7 An investment property shall be measured initially at its cost. (a)the cost of a purchased investment property comprises its purchase prise, related taxes and fee, and other directly attributable expenditures. (b)the cost of a self-constructed investment property is its cost at the date when the construction or development is complete.

(c)the cost of an investment property obtained in other ways shall be determined in accordance with the appropriate Specific Accounting Standard for Business Enterprises.

Article 8 Subsequent costs incurred for an investment property that meet the recognition criteria stipulated in Article 6 shall be included in the cost of the investment property. Subsequent costs that fail to meet the recognition criteria in Article 6 shall be recognized in profit or loss in the period in which they are incurred.

Chapter 3 Subsequent Measurement Article 9An enterprise shall use the cost model for subsequent measurement of investment property at the balance sheet date, except as stipulated in Article 10 of this Standard.

Subsequent measurement of buildings accounted for using the cost model is dealt with under “Accounting Standard for Business Enterprises No.4—Fixed Assets”.

Subsequent measurement of land use right accounted for using the cost model is dealt with under “Accounting Standard for Business Enterprises No.6—Intangible Assets”.

Article 10 If there is clear evidence that the fair value of an investment property can be reliably determinable on a continuing basis, the fair value model may be used for subsequent measurement of the investment property.

Both of the following conditions shall be met if the fair value model is to be used:

(a)there is a active property market in the location in which the investment property is situated;

(b)the enterprise can obtain the market price and other relevant information regarding the same type of or similar properties from the property market, so as to reasonably estiamte the fair value of the investment property.

Article 11 When the fair value model is used, no depreciation or amotization is provided for an investment property. The carrying amount of the investment property shall be adjusted to its fair value at the balance sheet date. The difference between the fair value and the original carrying amount is recognized in profit or loss for the current period.

Article 12 Once a measurement model for investment property is chosen, an enterprise shall not change the model arbitrarily. A change from the cost model to the fair value model shall be accounted for as a change in accounting policy and dealt with in accordance with “Accounting Standard for Business Enterprises No.28—Changes in Accounting policies and Accounting Estimates and Corrections of Errors” .

For investment property accounted for using the fair value model, a