Summary
IFRS 5 NON-CURRENT ASSETS HELD FOR SALE: Notes and Summary
- Institution
- University Of Cape Town (UCT)
Full summary for IFRS 5 presented in a clear and orderly manner
[Show more]
Content preview
IFRS 5: Non-Current Assets Held forSale
Classification
(:6-:8,:9-:13)
• Measurement of a non-current asset
(:15-:19)
Measurement
• Recognition of impairment losses
and reversals (:20-:22, :24-:25)
• Changes to a plan of sale/distribute
Presentation
and disclosure
• Presentation (:38, :40)
• Disclosure (:41-:42)
1. Classification
*make decision to sell an asset
• Available for immediate sale (in present condition), and
• Sale highly probable (actually, more likely than probable) i.e.
– Management committed to sale, and
– Active programme initiated, and
– Marketed at roughly FV (selling price), and
– Sale expected to be completed in 12 months from date classified as NCAHFS,
and
• Exception? :9
• Delay due to events beyond entity’s control; still committed to plan to
sell (See Appendix B)
• Appendix B(a): Others imposed conditions on the sale
Ä Actions to respond cannot be initiated until firm
purchase commit
Ä Highly probable that buyer will be found in 1 year
– Unlikely that the plan (to sell) will change significantly/be withdrawn.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller jrl. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R50,00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79373 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now