International GAAP 2012: Generally Accepted Accounting Practice under International Financial Reporting Standards

Chapter 4

Non-current assets held for sale and discontinued operations

1 Introduction

1.1 Background to IFRS 5

1.2 Objective and scope of IFRS 5

2 Non-Current Assets (and Disposal Groups) Held for Sale

2.1 Classification of non-current assets (and disposal groups) held for sale or held for distribution to owners

2.1.1 The concept of a disposal group

2.1.2 Classification as held for sale or as held for distribution to owners

2.1.2.A Meaning of available for immediate sale

2.1.2.B Meaning of highly probable

2.1.2.C Abandonment

2.1.3 Partial disposals of operations

2.1.3.A Loss of control of a subsidiary

2.1.3.B Partial disposal of an associate or joint venture

2.2 Measurement of non-current assets (and disposal groups) held for sale

2.2.1 Scope of the measurement requirements

2.2.2 Measurement of non-current assets and disposal groups held for sale

2.2.2.A Measurement on initial classification as held for sale

2.2.2.B Subsequent remeasurement

2.2.3 Impairments and reversals of impairment

2.2.4 Balance sheet presentation of non-current assets and disposal groups held for sale

2.2.5 Changes to a plan of sale

3 Discontinued Operations

3.1 Definition of a discontinued operation

3.2 Presentation of discontinued operations

3.3 Trading between continuing and discontinued operations

4 Comparative Information

4.1 Treatment of comparative information on initial classification as held for sale

4.1.1 The income statement (or combined statement of comprehensive income)

4.1.2 The balance sheet ...