Criteria met after the reporting period

Learning objectives

• Justify that criteria met after the reporting period do not permit classification at the end of the reporting period, and that the event is disclosed in the notes.L3

Normative references

• IFRS 5 §12Criteria met after the reporting period: no classification as held for sale in the financial statements for that period; if the criteria are met before the financial statements are authorised for issue, the information in para. 41(a), (b) and (d) is disclosed in the notes.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

1 question

• On 31 December, Sarlen is still using a workshop. On 15 February, before the accounts are finalised, its board approves a sale plan and all the classification criteria are then met. Which treatment is consistent with IFRS 5 for the 31 December accounts?L3