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Operation of Non current assets disposal
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[QUOTE="Yakub02, post: 309723, member: 94426"] IFRS 5 sets out requirements that specify the accounting treatment for assets held for sale, and the presentation and disclosure of discontinued operations. IFRS 5 requires assets that meet the criteria to be classified as held for sale are: measured at the lower of carrying amount and fair value less costs to sell; not depreciated; and presented separately on the face of the statement of financial position. Additionally, the results of discontinued operations must be presented separately in the statement of profit or loss. IFRS 5 identifies three classes of item that might be described as held for sale. These classes are of an increasing level of sophistication: non-current assets; disposal groups; and discontinued operations. Disposal group – a group of assets to be disposed of in a single transaction, and any liabilities directly associated with those assets that will be transferred in the transaction. A disposal group may be a group of cash-generating units, a single cash generating unit, or part of a cash-generating unit. Some disposal groups might fall into the definition of a discontinued operation. Classification and presentation The classification and presentation requirements of IFRS 5 apply to all recognised non-current assets and to all disposal groups. [/QUOTE]
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