The objective of IPSAS 16 is to prescribe the accounting treatment for investment property and related disclosure requirements.
IAS 40, Investment Property
Investment property is property (land or a building - or part of a building - or both) held to earn rentals or for capital appreciation or both, rather than for:
Investment property generates cash flows largely independently of the other assets held by an entity, distinguishing it from other land or buildings controlled by public sector entities, including owner-occupied property.
There are a number of circumstances in which public sector entities may hold property to earn rental and for capital appreciation. For example, a public sector entity (other than a GBE) may be established to manage a government's property portfolio on a commercial basis.
IPSAS 16 does not apply to