Scope exclusions

Learning objectives

• Distinguish the items excluded from the scope (biological assets, mineral rights) from investment property.L1, L2

Normative references

• IAS 40 §4Scope exclusions: biological assets (agriculture Standard) and mineral rights and mineral reserves fall within other Standards.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

1 question

• An entity reviews its real-estate assets. Which of these items fall outside the scope of the standard on investment property? (More than one answer possible.)L2