About Land and Building

[eternaly]

Anyone familiar about GAAP? is there something like the Property that included Land & Building. Building cost will be recognize 2/3 of the total cost, and Land will be recognize 1/3?

If not mistaken, I did read something like this before. But just can't find out where is this standard falls under...S.O.S!!![(]

[eternaly]

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by eternaly</i>
<br />Anyone familliar about GAAP? is there something like the Property that included Land & Building. Building cost will be recognise 2/3 of the total cost, and Land will be recognise 1/3?

If no mistaken, I did read something like this before. But just can't find out where is this standard falls under...S.O.S!!![(]
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">

It's about the apportionment ratio of Land & Building cost in lum sum. anyone knows whether there is any standard provide the solution?? thanks!!!