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Discuss the accounting treatment for the investment property

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Question - On 1 January 2020, Samsin Bhd acquired an investment property at a cost of RM5,000,000. Legal and other expenses amounted to RM250,000 incurred in relation to the purchase of property. At the end of the second quarter, an independent assessor valued the property at RM6,000,000. The economic life of the property is 20 years.

Required - Discuss the accounting treatment for the investment property for the year ended 31 December 2020 if Samsin Bhd has adopted the fair value mode.

Reference no: EM133073653

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