Hi Everyone.
I am working in the real estate development company. Apart from developing villas and apartments for the customers, we have developed a 18 hole golf course and a club house. Both are available for the residents and non residents of a society by paying a membership fee. I just to confirm whether IAS 16 or IAS 40 would apply on the classification of these properties?
Regards,
Classification of Golf Course
Re: Classification of Golf Course
Do you let it out the golf facilities someone else to operate for a period of time, or operate them yourself?
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- Posts: 21
- Joined: 21 Nov 2019, 10:52
Re: Classification of Golf Course
Currently we are operating our self, but may be in future we outsource it to third party.
Re: Classification of Golf Course
Seems like PPE to me.
Re: Classification of Golf Course
IAS 16 for sure, you're running a golf course business