Citation:Chandrarathna, A.G.K. & Thilakarathna, P.M.C. 2016. Recognition of Investment Property. Case Studies in Accounting “Bridging the Gap”, 03: pp. 03-04. Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka.
Date:2016
Abstract:
ABC is one of the Manufacturing Companies in Sri Lanka and operating as the
market leader for roofing sheets in Sri Lanka. XYZ is a fully owned subsidiary of
ABC. ABC company acquired a land in 2010 for Rs:50,000,000/= and this land
was leased to XYZ on operating lease for 40 years lease term which has annual
lease value of Rs. 14,404,200/=.They have entered in to that lease agreement in
2013.
