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The current thesis deals with tangible assets and as how they are treated, in accordance with International Financial Reporting Standards. Initially, there is a brief historical review and a brief record and analysis of International Financial Reporting Standards. This includes a more extensive and more detailed reference to IAS 16 "Property, Plant and Equipment", IAS 17 "Leases" and IAS 40 "Investment Property". A summary breakdown of tangible assets is recorded, followed by a detailed breakdown of IAS 16 and the treatment of tangible assets. IAS 17 and lease accounting are then dealt with, while IAS 40 analyzes how an entity handles investment properties. Also, a small reference is made to Lamda Development SA and how it treats tangible assets in practice, using International Accounting Standards, through its financial statements. Finally, the conclusions drawn from this dissertation and the bibliography used for its elaboration, are recorded.