South Africa How to account for land held for sale over a period longer than 12 months

May 16, 2016
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Hi People

How do you account for land that has been held for sale over a period longer than 12 months, my Company has huge land which is being sold, though the intention to sale is immediate but looking at the quantity of land it is not possible to sale it over one year?

So now what is the appropriate accounting treatment for the land? since it does not qualify as an investment property because there is no intention to hold the land for capital appreciation?

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