The accounting for investment properties is not of such narrow interest as it may first appear. Many groups that do not make money directly from holding properties do still have periods when some of their properties are not in use; when these are rented out or held for capital appreciation, they may qualify as investment properties. Crucially, the change in definition of an investment property means that any entity holding properties that are not owner-occupied needs to review the new requirements carefully to be sure whether or not the properties are in the scope of section 16 of FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.