Property not initial classified as investment property cannot be classified as investment property at a future date.

Question

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According to accounting standards such as IFRS (International Financial Reporting Standards), a property that was not initially classified as investment property can be reclassified as investment property at a future date if it meets the definition of investment property (i.e., held to earn rentals or for capital appreciation, or both) and the criteria for reclassification are met.

Property Not Initial Classified as Investment Property Cannot Be Classified