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IFRS05

Difference between revisions of "IFRS05"
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{{this}} (for Sale and Discontinued Operations) requires an entity to implement processes to ensure that:
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{{this}} (and Discontinued Operations) requires an entity to implement processes to ensure that:
 
* A non-current asset or disposal group is classified as held for sale if its carrying amount will be recovered principally through a sale transaction instead of through continuing use;
 
* A non-current asset or disposal group is classified as held for sale if its carrying amount will be recovered principally through a sale transaction instead of through continuing use;
 
* Assets held for sale are measured at the lower of the carrying amount and fair value less costs to sell;
 
* Assets held for sale are measured at the lower of the carrying amount and fair value less costs to sell;
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[[Category:Term]][[Category:Finance]]
 
[[Category:Term]][[Category:Finance]]
 
{{Object
 
{{Object
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|name=IFRS 5 Non-current Assets Held
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|name=IFRS 5 Non-current Assets Held for Sale
 
|parent=t:IFRS
 
|parent=t:IFRS
 
|sort=00005
 
|sort=00005

Revision as of 21:31, 19 August 2020

IFRS 5 Non-current Assets Held for Sale (and Discontinued Operations) requires an entity to implement processes to ensure that:

  • A non-current asset or disposal group is classified as held for sale if its carrying amount will be recovered principally through a sale transaction instead of through continuing use;
  • Assets held for sale are measured at the lower of the carrying amount and fair value less costs to sell;
  • Depreciation of an asset to cease when it is held for sale;
  • Separate presentation in the statement of financial position of an asset classified as held for sale and of the assets and liabilities included within a disposal group classified as held for sale; and
  • Separate presentation in the statement of comprehensive income of the results of discontinued operations.


IFRS 5 Non-current Assets Held for Sale is Copyright: IFRS Foundation Discuss Contract Custom Solution

Hierarchy

IDNameLevelx
IFRSInternational Financial Reporting Standards0IFRS
IFRS05IFRS 5 Non-current Assets Held for Sale1IFRS05
IFRS 5 Non-current Assets Held for Sale International Financial Reporting Standards 00005 1 IFRS, Standard, Financial, Reporting, GAAP, Non-current, Asset, Discontinued, Operations IFRS 5 requires processes to account for non-current assets held for sale and discontinued operations

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