This article refers to the March 2018 version of FRS 102 Financial Reporting Standard applicable in the UK and ROI, which includes the triennial review amendments published in December 2017. These are effective for accounting periods beginning on or after 1 January 2019 with early adoption possible, as FRS 102 (2018). References to the previous version of the standard are indicated by FRS 102 (2015).

What is an investment property?

The glossary of FRS 102 (2018) provides a relatively wide definition of ‘investment property’, which is important as classification of an asset as investment property can lead to a different accounting treatment compared to other fixed assets.