CERTYNEX IFRS ACADEMY

An entity amortises a licence with a finite useful life on a straight-line basis. On 30 September 20X2, the licence is classified as held for sale under IFRS 5; it is sold and derecognised on 31 January 20X3. Until what date is it amortised?

Until 31 January 20X3, the date it is derecognised.

Until 30 September 20X2, the date of classification under IFRS 5.

Until 31 December 20X2, the end of the financial year in which the classification takes place.

Until the end of its initial useful life, as the sale has no effect on amortisation.