Regis has flagged to the market that it will write down the $223.8 million value of its bed licences over the next three years ahead of the removal of the Aged Care Approvals Rounds (ACAR), reducing its net assets as aged care places are deregulated. (Brown, 2022) Required:

Part 1: Provide a context to explain why your company has made the announcement regarding the write down of their bed licences.