Provide an analysis regarding financial accounting issues about the property, plant and equipment section. ABC follows IFRS.

ABC invested excess cash in raw land in 2014. ABC constructed its manufacturing plant, administrative office, research center on a part of this land. The rest of the land will be sold once market value increases further. The general policy is that property taxes and interest related to vacant land are capitalized as part of the cost of the land. During fiscal 2015, $245,000 was capitalized to land. Amortization for building and equipment uses rates and methods of amortization consistent with those permitted by taxing authorities.