 Let us see another example. A limited acquired plot of land developed for industrial usage as a factory. In a business combination, a factory with similar size location and access has recently been sold for 100 million. The plot is located on the auscult of D.H.L.Hor. Similar site thereby has recently been developed for residential use. Now the thing is you acquired it for factory purpose. Now you are matching it with the another use of it that is the residential purpose. A limited determined the land could be developed as a site for residential use. The plot of land would then be worth 120 and currently its value is 100 million and when you develop it as a society for residential purpose, you will get a value of 120 million. So, clearly up till here there is an improvement and there is a fair value of 120. Following costs are associated with the conversion from industrial plot to residential plot. Everybody knows that if you want to convert your residential plot differently, so do you have to pay fee for the government? Cost of demolition or demolition of exacting building structure of 10 million and legal and processing fee for conversion 5 million. So, you have to incur 10 plus 5, 15 million if you want to shift from factory areas to commercial residential area. Requirement is compute the fair value of land being non-financial assets as required by the IAF 13 fair value measurement and explain the basis of your valuation. See the solution. IFR 13 fair value measurement distinguished between financial assets and non-financial assets based is on concept of high and best use. Now look here you got the plant and that plant now you want to make use the best use. The best use is instead of commercial you turn it to residential. Act is a residential any urban one. The highest and best use of the land would be determined by comparing the following. Value of land as currently developed based similar plot is 100 million. Value of land at vacant site of residential use 120. So, technically we should take 120 only but as I said earlier, if it has a cost then that cost must be considered. We have told you the balance figure but practically if you go there there is a lot of cost involved when you want to convert use of any asset you want to be converted. That will cost you a lot. Then the cost of demolition of existing building structure because the building structure of residential use is different. Then there is the fact that in a place where there is a corner or what do you call it? There is no problem if there is a corner then there will be a lot of price and if it is inside then the price will be different. That concept is in residential use but not in industrial use. So, to make use of it and to demolish it it will cost you 10 million. Similarly, you will have to give legal and professional fee for conversion of 5 million. As I said, this is not a simple figure. There is a lot of expense involved. You will have to go to many places and we add the cost of all of them and that becomes your legal and professional fee. Legals become more and professional and if you add all of them then you will get 5 million. That will cost you a total of 15 million. The fair value of land being non-financial asset is 105 million based on the valuation of premise of the highest and best use. Now, the thing is clearly that if you are going to convert it then the three things that I had told you that economically it is feasible, possible, legally it is possible and financially it is possible or not. If these three things are complete, you can see that if there is a restriction from the government that you cannot convert the factory place in residential so that will not be possible that you can use it in the highest and best use. Now, if these three things exist then the highest use will be done otherwise. This is not the end of this chapter let me tell you because these fair value things are going to come across many other standards because it is a part of the standard of others. Next time you will see we will come up with let us say investment properties. So, the investment property is very clearly fair valuation. So, how we look into it next time inshallah. Thank you very much.