Accounting and valuation of investment property: IAS 40 and FSA 6/2020

The article discusses the problems of applying the requirements of the federal accounting standard FSA 6/2020 “Fixed Assets” in relation to investment real estate in Russian organizations, a category that was not previously provided for by regulations. In the IFRS system, IAS 40 is devoted to this issue, which is not a specialized industry standard, so the assignment of an object to investment property depends only on how it is used by the organization, and not on the type of main activity of the organization that owns this object. Investment real estate, which means only land and buildings intended to receive rental payments or income from the increase in their value. Cash flows generated by investment real estate, as a rule, are not related to the rest of the company’s assets. This distinguishes investment property from owner-occupied real estate. The similarities and differences in national accounting, the procedure for initial and subsequent evaluation of investment real estate in comparison with the current international financial reporting standards are analyzed. The assessment of the practical application of innovations in the separate accounting of investment real estate, starting with the financial statements for 2022.