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CHAPTER 9 PFRS 5 - NON-CURRENT ASSETS HELD FOR SALE AND DISCONTINUED…
CHAPTER 9 PFRS 5 - NON-CURRENT ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS
Non-current Assets Held for Sale
Committed plan to sell
: The entity is committed to a plan to sell the asset.
Available for immediate sale
: The asset is available for immediate sale in its present condition.
Active search for a buyer
: The entity actively seeks a buyer.
Probable sale within one year
: The sale of the asset is probable within one year from the date of classification.
Accounting Treatment of Assets Held for Sale
Measurement: Measured at the lower of its carrying amount and fair value less costs to sell.
Recognition of impairment loss: If the carrying amount exceeds the fair value less costs to sell, an impairment loss is recognized.
Subsequent measurement: No depreciation or amortization is recognized.
Presentation: Presented separately in the statement of financial position.
Accounting Treatment of Discontinued Operations
Separate presentation
: Results from discontinued operations are presented separately in the income statement.
Post-tax profit or loss
: The post-tax profit or loss of the discontinued operation is reported.
Gain or loss on disposal:
The post-tax gain or loss on the disposal of the discontinued operation is also reported.
Discontinued Operations
A discontinued operation is a component of an entity that either has been disposed of or is classified as held for sale and:
Represents a separate major line of business or geographical area of operations.
Is part of a single coordinated plan to dispose of a separate major line of business or geographical area of operations.
Is a subsidiary acquired exclusively with a view to resale.
MENGER SIMON PINO
GROUP 7
9:00 - 10:30
BSA 1