Yakub02
Banned
A non-current asset that is scoped out of IFRS 5 for measurement purposes may fall within the classification and presentation rules.
Such a non-current asset might be part of a disposal group. In this case the measurement rules of IFRS 5 apply to the disposal group as a whole but not to the scoped out assets within the group which are measured individually according to the rules set out in their own standards.
Abandonment of non-current assets Non-current assets (or disposal groups) to be abandoned include non-current assets (or disposal groups) that are to be: used to the end of their economic life; or closed rather than sold.
A non-current asset (or disposal group) that is to be abandoned must not be classified as held for sale.
A non-current asset (or disposal group) must be classified as held for sale when its carrying amount will be recovered principally through a sale transaction rather than through continuing use.
Criteria The following conditions must apply at the reporting date for an asset (or disposal group) to be classified as held for sale:
it must be available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets (or disposal groups);
the sale must be highly probable, that is: the appropriate level of management must be committed to a plan to sell the asset (or disposal group);
an active programme to locate a buyer and complete the plan must have been initiated;
Such a non-current asset might be part of a disposal group. In this case the measurement rules of IFRS 5 apply to the disposal group as a whole but not to the scoped out assets within the group which are measured individually according to the rules set out in their own standards.
Abandonment of non-current assets Non-current assets (or disposal groups) to be abandoned include non-current assets (or disposal groups) that are to be: used to the end of their economic life; or closed rather than sold.
A non-current asset (or disposal group) that is to be abandoned must not be classified as held for sale.
A non-current asset (or disposal group) must be classified as held for sale when its carrying amount will be recovered principally through a sale transaction rather than through continuing use.
Criteria The following conditions must apply at the reporting date for an asset (or disposal group) to be classified as held for sale:
it must be available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets (or disposal groups);
the sale must be highly probable, that is: the appropriate level of management must be committed to a plan to sell the asset (or disposal group);
an active programme to locate a buyer and complete the plan must have been initiated;
