CERTYNEX IFRS ACADEMY

Gavane leased a building to a third party. The lease ended; on 1 March, Gavane sets up its own offices in it and assigns its staff there (case facts). It measures its investment property under the cost model. Which reasoning is consistent with the rule?

The transfer is made on the date of the board meeting that mentioned the project, before any fact.

The transfer is made at the reporting date, whatever the date of occupation.

A transfer is never possible: an investment property remains one until it is sold.

The start of occupation by Gavane evidences a change in use: the transfer to owner-occupied property is made on that date.