A hospital owns a property that was originally acquired for 5m. The property is occupied by staff of the hospital providing services. The property is held at cost less accumulated depreciation and the current carrying value is 3.5m. There has recently been a significant decline in property prices in the rea. How should the property be treated in the financial statements of the hospital? The property should be treated as a non-cash-generating asset and subject to an impairment review under IPSAS 21 Impairment of Non-Cash-Generating Assets. The property should be treated as a cash generating asset and subject to an impairment review under IPSAS 26 Impairment of Cash-Generating Assets. The property should be revalued under IPSAS 17 Property. Plant and Equipment. The property should be held at its current market value.

A hospital owns a property that was originally acquired for 5m. The property is occupied by staff of the hospital providing services. The property is held at cost less accumulated depreciation and the current carrying value is 3.5m. There has recently been a significant decline in property prices in the rea. How should the property be treated in the financial statements of the hospital? The property should be treated as a non-cash-generating asset and subject to an impairment review under IPSAS 21 Impairment of Non-Cash-Generating Assets. The property should be treated as a cash generating asset and subject to an impairment review under IPSAS 26 Impairment of Cash-Generating Assets. The property should be revalued under IPSAS 17 Property, Plant and Equipment. The property should be held at its current market value